Centralized cryptocurrency exchanges are managed by one organization. It makes it a bit easier to get started, particularly for beginners. They act as a third-party between a buyer and a seller. Since they are operated and controlled by one company, centralized exchanges offer more reliability. However, because it is centralized, this means that your assets are managed by someone else other than yourself. They are operated by companies that are responsible for the holdings of their users. A few leading centralized cryptocurrency exchanges include Coinbase, Binance, Gemini, Crypto.com, and BlockFi.