Good day to all steemians, it feels good to participate in the week two of this engagement contest and I want to specially welcome everyone to my blog. In this article I will be discussing and reviewing centralized exchanges. ![Copy of Sunday Church ONLINE Event Flyer Template - Made with PosterMyWall.jpg](https://cdn.steemitimages.com/DQmaJs34cRZwuTtsLcUeyv7XPo1cfw4BD3vwGw68a93tPCV/Copy%20of%20Sunday%20Church%20ONLINE%20Event%20Flyer%20Template%20-%20Made%20with%20PosterMyWall.jpg) IMAGE DESIGNED ON POSTERMYWALL.COM ![9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png](https://cdn.steemitimages.com/DQmcZanrXSLKM9CprGp3tSsZ9i9GPsjLskqY8rTGgX2yD6a/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png) **

DISCUSS BRIEFLY CENTRALIZED EXCHANGES AND ITS BENEFITS TO CRYPTO USERS

** ![9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png](https://cdn.steemitimages.com/DQmcZanrXSLKM9CprGp3tSsZ9i9GPsjLskqY8rTGgX2yD6a/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png) Centralized exchanges (CEXs) are platforms that coordinates the transactions of various cryptocurrencies I.e this platform permits the trading (buying and selling) of various crypto coins. CEXs are actually mostly used by investors to trade cryptocurrency. Centralized exchanges first came up in 2010 and ever since then, we've had them in numbers now and they are now widely accepted and recognized to trade cryptocurrency. CEXs works with regulators and tightening security, hence their users have trust in them due to the safety and security it has. ![images - 2022-05-05T175427.988.jpeg](https://cdn.steemitimages.com/DQmTyXuv1oaFdttqczihkDzgBNnr1v5mR1s4yTtAo9KfjGx/images%20-%202022-05-05T175427.988.jpeg) _{[Image source](https://digitallycool.com/crypto-guide/what-is-cex-and-top-5-cex-platforms/)} The main idea behind centralized exchanges is that they make use of a middle man known as the intermediary to help execute trades. CEXs platform keeps digital order books, this books usually consist of open buy and sell orders and as well as volumes and prices. The system automatically match up buyers and sellers and state the current market price that an asset sells for. It is also required that a user deposit his/her crypto asset at the exchange before he can trade on the platform. *** #### BENEFITS OF CEXs TO CRYPTO USERS *** 1. Centralized exchanges permits users to trade their fiat for cryptocurrencies. On the CEX platform, you will see the pairing of fiat currencies like USD with some crypto asset like BTC, ETH, TRX etc 2. Customers that uses centralized exchanges enjoy the privilege of putting money into crypto investment opportunities like farming, staking, savings and even NFTs. 3. Another good thing about centralized exchanges is that they provide optimum security for every transactions or trading that is carried out on the platform and this give more confidence to the users of the platform. 3. CEXs also have friendly user interface that makes it easy for users to explore and navigate through the platform. ![9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png](https://cdn.steemitimages.com/DQmcZanrXSLKM9CprGp3tSsZ9i9GPsjLskqY8rTGgX2yD6a/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png) **

WHAT DO YOU LOOK OUT FOR WHEN YOU ARE CHOOSING AN EXCHANGE TO TRADE YOUR CRYPTO ASSETS ?

MY FAVORITE CEX PLATFORM AND IT'S UNIQUE FEATURES

** ![9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png](https://cdn.steemitimages.com/DQmcZanrXSLKM9CprGp3tSsZ9i9GPsjLskqY8rTGgX2yD6a/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png) No doubts, my favorite CEX platform still remains Binance and I will be discussing briefly about it ![unnamed (6).png](https://cdn.steemitimages.com/DQmYgJ4DEZpwrJLPMPz6ZE76C8p37uWPcpD8HNES1rXySx4/unnamed%20(6).png) _{[Image source](https://www.heaven32.com/download/downloads/download-binance-bitcoin-marketplace-crypto-wallet-apk-free-app-last-version/)} * Binance is currently the world's largest crypto trading platform and it was founded in 2017 by the CEO changpeng Zhao * It is the fastest platform in the crypto market and also it has the largest trading volume, averages about 2 billion daily volume of transactions which is quite incredible * BNB is the native cryptocurrency of the Binance exchange platform. * Binance also provides a crypto wallet for its users and traders to keep or store their crypto assets and funds. * Another interesting review of the Binance exchange platform is that it has one of the lowest transaction fees in the crypto space. * The name 'BINANCE' actually was coined from the combination of two words namely 'BITCOIN' and 'FINANCE' * Lastly, the Binance platform has a multi-level security and safety and not only that it delivers a high processing throughput of which is about 1.4 million orders per second. ![Screenshot_20220506-081458.png](https://cdn.steemitimages.com/DQmYw7Litr9exJXqgfq3tHoZLHgaSpTHyEzYGzeKznTgtiA/Screenshot_20220506-081458.png) _{[Image source](https://binance.com)} *** #### UNIQUE FEATURES OF THE BINANCE EXCHANGE PLATFORM *** 1. The Binance exchange is very easy to navigate both for newbies and advanced traders. 2. The Binance platform offers users with different types of wallet to store their respective crypto and fiat currencies on the exchange platform. 3. Binance is compatible with mobile phone (IOS and Android), the App can be downloaded on Google play, Android Apk and Apple store. 4. Binance exchange has a very wide range of platforms for trading and investment, these includes : Basic, classic, advance, margin, OTC and p2p. 5. Another important feature of Binance is the launchpad which enables users to review new crypto project details which also includes the whitepaper 6. Binance supports both deposit and withdrawal of cryptocurrency and fiat currencies 7. Binance offers 24/7 round the clock customer support which I think is very good. ![9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png](https://cdn.steemitimages.com/DQmcZanrXSLKM9CprGp3tSsZ9i9GPsjLskqY8rTGgX2yD6a/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Cy4u1QM7UjQQeNe8uuqFnUavyrz9xqYWWEAcTUePaGnrJqDjoZoWeKa8fXsmp5FvAJScjciHcUorZQwnGpmFZdGSqxpo7q5CrES.png) **

IS THERE ANYTHING ABOUT ABOUT YOUR FAVORITE EXCHANGE YOU WILL LIKE TO BE CHANGED ?

WHAT SHORTCOMING DO YOU SEE ON CENTRALIZED EXCHANGES AND HOW DO YOU THINK USER FUNDS CAN BE PROTECTED SINCE WE DON'T HAVE ACCESS TO OUR WALLET PRIVATE KEYS

CONCLUSION