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List of Centralised Crypto Exchanges (CEX)

A centralised crypto exchange, or CEX for short, is an exchange that is owned and operated by a business entity. When using a centralised exchange you will transfer ownership of your crypto private keys to the centralised platform. Centralised exchanges normally offer customer support and may offer some level of insurance.
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Platform Reviews Rate Coverage Fees Rate
CeFi
United States
94%
12 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickThe largest crypto exchange in the US
tickSimple, easy to understand interface
tickFully regulated in the US
518
Cryptos
614
Markets
Cheapest
Checking rate
Rate Not Currently Available
CeFi
United States
94%
12 years old
Compare
Cheapest
tickHigh liquidity professional exchange
tickDeposits insured up to $100,000 USD
tickReduced trading fees for high volume traders
518
Cryptos
616
Markets
0.5%
Maker fee
0.5%
Taker fee
Cheapest
CeFi
Lithuania
94%
7 years old
Compare
Cheapest
tickThe biggest crypto platform in the world
tickHuge array of innovative crypto related services
tickHigh liquidity exchange offers competitive rates
518
Cryptos
95,109
Markets
0.1%
Maker fee
0.1%
Taker fee
Cheapest
CeFi
Hong Kong
90%
8 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickFully comprehensive suite of crypto services.
tickAutomatically buy cryptos on a fixed schedule - great for dollar cost averaging.
tickRegulated & trustworthy.
518
Cryptos
549
Markets
0.4%
Maker fee
0.4%
Taker fee
Cheapest
Checking rate
Rate Not Currently Available
CeFi
United States
89%
13 years old
Compare
Cheapest
tickOne of the biggest crypto exchanges in the world
tickLarge selection of supported cryptocurrencies
tickVery competitive maker and taker fees
518
Cryptos
683
Markets
0.16%
Maker fee
0.26%
Taker fee
Cheapest
CeFi
United Kingdom
78%
12 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickEasy to use mobile and web apps
tickGreat for beginners
tickStrong support in a number of developing countries
518
Cryptos
61
Markets
0%
Maker fee
0.1%
Taker fee
Cheapest
Checking rate
Rate Not Currently Available
CeFi
Liechtenstein
87%
10 years old
Compare
Cheapest
tickFast, professional exchange
tickLow competitive fees
tickWide selection of cryptos
518
Cryptos
724
Markets
0.35%
Maker fee
0.35%
Taker fee
Cheapest
CeFi
Bulgaria
78%
6 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickVery simple & easy to use
tickNo hidden fees
tickInterest paid daily
518
Cryptos
0%
Exchange fee
Cheapest
Checking rate
Rate Not Currently Available
CeFi
Singapore
76%
5 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickVery simple easy to understand interface
tickInterest accrued daily and paid out weekly
tickEnhanced interest rates available for big depositors (over 100 BTC)
518
Cryptos
0%
Exchange fees
Cheapest
Checking rate
Rate Not Currently Available
CeFi
Switzerland
87%
7 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickVery high LTV up to 90% available on loans
tickInnovative Multi-HODL product allows market speculation with savings funds
tickTurbocharge allows highly leveraged speculation on crypto assets with multiple loans on one deposit of collateral
518
Cryptos
0%
Exchange fees
Cheapest
Checking rate
Rate Not Currently Available
CeFi
Canada
54%
6 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickUltra simple model
tickNo hidden fees
tickOnly one interest payment at end of 12 month term required on loans
518
Cryptos
0%
Exchange fees
Cheapest
Checking rate
Rate Not Currently Available
CeFi
United Kingdom
80%
3 years old
Compare
Cheapest
Checking rate
Rate Not Currently Available
tickSimple, easy to use interface.
tickCompetitive exchange rates.
tickCompetitive interest rates for large deposits.
518
Cryptos
0.35% flat rate
Cheapest
Checking rate
Rate Not Currently Available
CeFi
7 years old
Compare
Cheapest
tick$14,790,080 USD currently invested (TVL)
tickInvestments in 8 coin pairs available
tickSupports protocols including Arbitrum, Ethereum and Polygon
518
Cryptos
54
Markets
Cheapest
Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

What Are Centralised Crypto Exchanges?

Centralised crypto exchanges (CEXs) have become increasingly popular in recent years, as they provide a convenient way for users to buy, sell, and trade cryptocurrencies. These exchanges are run by a central authority, and they act as intermediaries between buyers and sellers.

CEXs operate by holding users' funds in centralized wallets, which are controlled by the exchange. This means that users do not have direct control over their funds and must rely on the exchange to manage and secure their assets. While CEXs provide a simple and user-friendly experience for buying and selling cryptocurrencies, they also come with some risks.

One of the main risks associated with CEXs is security. Since centralised exchanges hold a large amount of funds, they are attractive targets for hackers. In the past, several major exchanges have been hacked, resulting in the loss of millions of dollars worth of cryptocurrency. While exchanges have taken steps to improve their security measures, the risk of hacks remains.

Another risk associated with CEXs is the potential for fraud. Centralised exchanges can be vulnerable to insider trading, market manipulation, and other fraudulent activities. This is because the exchange has control over the trading process and can potentially manipulate the market to its advantage.

Furthermore, CEXs are subject to government regulations, which can limit their operations in certain jurisdictions. This can affect the availability of certain cryptocurrencies on the exchange or restrict the ability of users to withdraw their funds.

Despite these risks, centralised exchanges continue to be popular due to their convenience and ease of use. They offer a user-friendly interface and support a wide range of cryptocurrencies. Additionally, CEXs often provide advanced trading features, such as margin trading and derivatives, that are not available on decentralised exchanges (DEXs).

In conclusion, while centralised crypto exchanges provide a convenient way for users to buy, sell, and trade cryptocurrencies, they also come with some risks. Users must trust the exchange to manage and secure their funds, which can be vulnerable to hacks and fraud. Nevertheless, CEXs continue to be popular due to their user-friendly interface, advanced trading features, and support for a wide range of cryptocurrencies. It is important for users to be aware of the risks associated with CEXs and to take precautions to protect their funds.

What Are the Advantages of Centralised Exchanges?

Centralized crypto exchanges (CEXs) offer several advantages to users who want to buy, sell, and trade cryptocurrencies. Some of the main advantages of CEXs include:

  1. User-friendly interface: CEXs often provide a user-friendly interface that is easy to navigate, making it simple for even new users to buy and sell cryptocurrencies.

  2. Wide range of cryptocurrencies: CEXs support a wide range of cryptocurrencies, making it easy for users to trade in different assets without having to switch between different exchanges.

  3. High liquidity: CEXs typically have high trading volumes, which means that there is a high level of liquidity. This makes it easy for users to buy and sell cryptocurrencies quickly without affecting the price.

  4. Advanced trading features: CEXs often provide advanced trading features, such as margin trading, futures trading, and options trading. These features allow users to take advantage of market volatility and potentially increase their profits.

  5. Customer support: CEXs typically provide customer support, which can help users resolve issues or answer questions about their accounts.

  6. Regulations: CEXs are often subject to government regulations, which can help to ensure that the exchange operates in a transparent and secure manner. This can provide users with a greater level of trust and confidence in the exchange.

  7. Fiat currency support: Many CEXs support fiat currency deposits and withdrawals, which makes it easier for users to buy and sell cryptocurrencies using their local currency.

In summary, CEXs offer a user-friendly interface, a wide range of cryptocurrencies, high liquidity, advanced trading features, customer support, regulatory oversight, and fiat currency support. These advantages make CEXs a popular choice for users who want to trade cryptocurrencies.

 

What Are the Disadvantages of Centralised Exchanges?

While centralized crypto exchanges (CEXs) offer many advantages, they also come with several disadvantages that users should be aware of. Some of the main disadvantages of CEXs include:

  1. Security risks: CEXs store users' funds in centralized wallets, making them attractive targets for hackers. Several major exchanges have been hacked in the past, resulting in the loss of millions of dollars worth of cryptocurrency.

  2. Centralization: CEXs are controlled by a central authority, which means that users do not have direct control over their funds. This can make users vulnerable to fraud, insider trading, and other fraudulent activities.

  3. Dependence on the exchange: Users must rely on the exchange to manage and secure their funds, which can be a risk if the exchange is not properly managed or if it goes out of business.

  4. Lack of anonymity: CEXs often require users to provide personal information and verify their identity before they can trade on the platform. This can be a disadvantage for users who value anonymity and privacy.

  5. Limited availability: CEXs may be limited in terms of the number of jurisdictions they can operate in, which can limit the availability of certain cryptocurrencies or restrict the ability of users to withdraw their funds.

  6. Fees: CEXs often charge fees for trading and withdrawing funds, which can reduce profits and increase costs for users.

In summary, the disadvantages of CEXs include security risks, centralization, dependence on the exchange, lack of anonymity, limited availability, and fees. While CEXs offer many advantages, users should be aware of these risks and take steps to protect their funds and minimize their exposure to these risks.

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Article by Matt
11 November 2022 (Updated 17 March 2024)

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