Exchange Centralizado (CEX)

Una plataforma de intercambio de criptomonedas operada por una empresa que custodia los fondos y empareja órdenes mediante un libro de órdenes central.

Principales CEX: Binance, Coinbase, Kraken, OKX. Ingresos: comisiones de trading (0,1–0,5%), spread, comisiones de listado. CEX vs DEX: CEX — alta liquidez, soporte fiat, pero riesgo de custodia.

        graph LR
  Center["Exchange Centralizado (CEX)"]:::main
  Rel_cex["cex"]:::related -.-> Center
  click Rel_cex "/terms/cex"
  Rel_proof_of_stake["proof-of-stake"]:::related -.-> Center
  click Rel_proof_of_stake "/terms/proof-of-stake"
  Rel_singularitynet["singularitynet"]:::related -.-> Center
  click Rel_singularitynet "/terms/singularitynet"
  classDef main fill:#7c3aed,stroke:#8b5cf6,stroke-width:2px,color:white,font-weight:bold,rx:5,ry:5;
  classDef pre fill:#0f172a,stroke:#3b82f6,color:#94a3b8,rx:5,ry:5;
  classDef child fill:#0f172a,stroke:#10b981,color:#94a3b8,rx:5,ry:5;
  classDef related fill:#0f172a,stroke:#8b5cf6,stroke-dasharray: 5 5,color:#94a3b8,rx:5,ry:5;
  linkStyle default stroke:#4b5563,stroke-width:2px;

      

🧒 Explícalo como si tuviera 5 años

Un [CEX](/es/terms/cex) es como un banco y una bolsa combinados, pero para cripto. Depositas tu [Bitcoin](/es/terms/bitcoin) con ellos (lo guardan por ti). Si el 'banco' quiebra, tu dinero puede desaparecer — exactamente lo que ocurrió con FTX en 2022.

🤓 Expert Deep Dive

Los CEX usan un libro de órdenes limitadas central (CLOB). Los makers añaden liquidez (comisiones más bajas), los takers la retiran. Tras FTX, las bolsas publican Proof-of-Reserves basadas en árboles Merkle. Los CEX deben cumplir con AML/KYC.

❓ Preguntas frecuentes

What is the main risk of using a CEX?

Custodial risk: you do not control your private keys. If the exchange is hacked, goes bankrupt (like FTX in 2022), or freezes withdrawals, you may lose access to your funds.

What is Proof-of-Reserves?

A Proof-of-Reserves (PoR) is a cryptographic attestation that a CEX actually holds the assets it claims to hold for users. After FTX collapsed, it became a standard practice for exchanges to publish Merkle-tree-based PoR reports. However, PoR only proves assets, not liabilities.

What is the difference between a maker and a taker on a CEX?

A market maker places a limit order that sits on the order book, adding liquidity. A taker executes against an existing order, removing liquidity. Makers typically pay lower fees than takers.

📚 Fuentes