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A centralized exchange (CEX) is a platform that facilitates the buying, selling, and trading of cryptocurrencies by acting as an intermediary between buyers and sellers. Users create accounts on these exchanges and deposit their funds, which the exchange manages, providing liquidity and ensuring transaction security. CEXs typically offer a user-friendly interface and various trading features, but they require users to trust the exchange with their assets. Examples include Binance, Coinbase, and Kraken.

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