Classroom
CEX vs DEX
A CEX is a centralized exchange (Binance, Coinbase) with custody and KYC. A DEX is a decentralized exchange where you trade straight from your own wallet.
Category: ExchangesWhere you see this on charliedesk
Related terms
KYC
Know Your Customer: verifying a user's identity. Regulated exchanges require it for anti-money-laundering rules and tax reporting.
DeFi
Decentralized finance: lending, swaps and yield via smart contracts, with no bank in the middle. It all runs on-chain and is publicly verifiable.
Order book
The list of all buy and sell orders on an exchange. It shows supply, demand and market depth at each price.