# CEX

> A centralised exchange. A regulated platform where you buy and sell crypto using an account.

Canonical URL: https://fudfomo.co/glossary/cex
Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co.

## Definition

CEX stands for centralised exchange. It is the kind of crypto platform most people start with: you sign up, pass identity checks, deposit money, and trade.

The exchange holds your funds while they are on the platform, the same way a broker does. That is convenient, but it also means you are trusting the company. The phrase 'not your keys, not your coins' is a reminder of that trade-off.

## Related terms

- [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account.
- [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does.
- [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade.
- [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto.

## See the full catalogue

What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co