Jumping Into The World Of Crypto Exchanges A cryptocurrency exchange can be categorized as either centralized or decentralized, depending on how it functions. So, it is time to examine the highlights of each class. Jumping Into the world of Crypto Exchanges blockchainfirm Crazy Centralized Exchanges! A centralized crypto exchange (CEX) is an exchange platform governed by a central authority. People use these marketplaces to buy and sell their cryptos. An account on the platform, a wallet, and some funds are the three main requirements for trading. Also, users will be given a private key for protection and transaction purposes. In terms of CEX, a private key backup will be with authority. Highlights Of CEX! These are marketplaces where cryptocurrency buyers and sellers carry out deals with the help of a middleman. Since there is the involvement of third parties, users should be cautious about the transaction and other details. Before using a centralized exchange, users must first create an account using personally identifiable information, such as names, email addresses, etc. Centralized exchanges are frequently governed and must abide by the laws of the nations in which they conduct business. Also, centralized exchanges are not limited to any specific blockchain. They can facilitate the exchange of any blockchain’s cryptocurrency assets. In case of any blockchain exchange development service, connect with us! https://www.blockchainfirm.io/blockchain-exchange-development-company