What Is a Centralized Exchange CEX? Definition, Pros & Cons
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You’re unlikely to get your crypto back if you have crypto in an exchange and someone robs the exchange. Users concerned with privacy and anonymity can consider using P2P services that allow you to trade crypto directly with others. And some exchanges might follow the KYC protocol, which requires users to share personal information and identification, similar to traditional exchanges. A DEX might have some drawbacks compared to their centralized counterparts.
U.S.-based crypto traders could access FTX US—a registered money services business with FinCEN. In October 2021 FTX US completed its acquisition of LedgerX, rebranding it as FTX US Derivatives. FTX US Derivatives is licensed as Derivatives Clearing Organization, Swap Execution Facility and Designated Contract Market by the U.S. In the beginning, FTX’s wide range of products and easy-to-use …
