# Crypto Exchange

*Crypto & Digital Assets — Finicade finance glossary*

A centralised crypto exchange matches buyers and sellers on its own order book and typically holds customer assets. It offers deep liquidity, fiat on-ramps and a familiar interface, in exchange for being a custodian, a counterparty and a single point of failure. Proof-of-reserves attestations emerged after FTX and prove assets exist without proving liabilities don't exceed them.

**Also known as:** CEX, centralized exchange, Coinbase, Binance

**Related terms:** [Decentralized Exchange (DEX)](https://finicade.com/glossary/decentralized-exchange), [Custodial vs Non-Custodial Wallet](https://finicade.com/glossary/custodial-vs-non-custodial-wallet), [Know Your Customer (KYC)](https://finicade.com/glossary/know-your-customer), [Liquidity](https://finicade.com/glossary/liquidity), [Counterparty Risk](https://finicade.com/glossary/counterparty-risk)

Source: https://finicade.com/glossary/crypto-exchange