Cryptocurrency Q&A
Is Coinbase CEX?
Is Coinbase CEX?
KpopHarmony
Sun Aug 25 2024
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5 answers
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Could you please clarify whether Coinbase is a Centralized Exchange (CEX) or not? I've heard differing opinions on this matter, and I'm curious to know the definitive answer. As a platform for buying, selling, and trading cryptocurrencies, Coinbase is widely used, but it's essential to understand the nature of its exchange structure for investors to make informed decisions. Could you elaborate on this point and provide any relevant details?
5 answers
Giulia
Tue Aug 27 2024
Centralized Exchanges (CEX) are platforms that serve as intermediaries in cryptocurrency transactions. They maintain their own order books, which record and approve each trade order.
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Silvia
Mon Aug 26 2024
CEXs also employ centralized security protocols to safeguard user data and funds. These measures include encryption, authentication, and regular security audits.
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FireflySoul
Mon Aug 26 2024
Popular CEXs include Binance, Coinbase, Kraken, and Huobi. These exchanges have gained widespread recognition due to their reliability and security measures.
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Daniele
Mon Aug 26 2024
The order book system in CEXs ensures that all transactions are recorded and processed accurately. This minimizes the risk of errors or fraud.
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Lucia
Mon Aug 26 2024
Data sharing within CEXs occurs via dedicated servers, ensuring that information is securely transmitted between users and the exchange.
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