Centralized Crypto Exchange: What It Is, How It Works, and Which Ones to Avoid
When you buy Bitcoin or trade altcoins on a platform like centralized crypto exchange, a company-controlled platform that holds your crypto and handles trades on your behalf. Also known as CEX, it’s the most common way people enter crypto—but it’s also where most losses happen. Unlike decentralized platforms, these exchanges act like banks: you deposit funds, they manage the ledger, and they decide when you can withdraw. That convenience comes at a cost: you don’t own your keys, and if the exchange gets hacked, frozen, or shuts down, your crypto could vanish overnight.
Many popular platforms like Binance, the world’s largest centralized exchange, offering trading, staking, and derivatives, and KuCoin, a global exchange known for listing new tokens quickly dominate the market. But not all are trustworthy. Platforms like BiKing, an unregulated exchange with a history of theft and zero user protections and Wavelength, a fake exchange with no audit records or verified users are red flags you can’t ignore. These aren’t just risky—they’re dangerous. The difference between a safe exchange and a scam often comes down to transparency, regulation, and whether they’ve ever lost user funds.
Regulation plays a huge role. In the EU, MiCA, a comprehensive crypto regulation requiring exchanges to get official authorization is forcing platforms to prove they’re secure. In India, exchanges must comply with local laws to accept UPI payments. That’s why some platforms work there and others don’t. Even if a site looks professional, if it doesn’t mention compliance or has no clear legal presence, treat it like a lottery ticket—don’t put money in unless you’re ready to lose it.
Most people use centralized exchanges because they’re easy. But ease shouldn’t mean blind trust. The posts below cover real cases: which exchanges actually serve Indian users, which ones got hacked, which ones are just fake, and how to spot the difference before you deposit a single dollar. You’ll find reviews of platforms you’ve heard of, warnings about ones you shouldn’t touch, and clarity on what makes a crypto exchange worth using—or worth avoiding entirely.
Tsunami Crypto Exchange Review: Is Tsunami.cash or Tsunami.exchange Safe to Use?
Tsunami crypto exchange refers to two separate platforms: Tsunami.cash (risky centralized service) and Tsunami.exchange (new decentralized DEX). Learn why one is dangerous and the other is unproven - and what to use instead.
- January 11 2025
- Terri DeLange
- 21 Comments