> For the complete documentation index, see [llms.txt](https://docs.cwifwiki.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cwifwiki.com/about-catwifhat/centralized-exchanges-cexes.md).

# Centralized Exchanges (CEXes)

Make sure to double check verified links on [CoinMarketCap](https://catwifhatsolana.com/coinmarketcap) or [CoinGecko](https://catwifhatsolana.com/coingecko) before trading $CWIF on an exchange. 

## Burns on CEX Trading

There is typically no 4% burn fee while buying and selling $CWIF on a CEX. This is because the CEX usually keeps the $CWIF in one wallet (their spot wallet) during the trade. However, centralized exchanges may have their own individual policies, so it is always best to check with the exchange's policies.

## Burns on CEX Deposits and Withdrawals

Typically, there are three 4% burns when completing a CEX deposit and CEX withdrawal of $CWIF on a CEX. 

The typical burn fees for $CWIF on most CEXes include a 4% burn fee for deposit, a second 4% burn fee for transfer to the spot wallet, and a third 4% burn fee on withdrawal. 

Some CEXes might have different policies, such as a double burn fee (two 4% burns) on withdrawals. It is essential to do your own research on an exchange's individual policies before depositing or withdrawing $CWIF so that you know what fees to expect.

## Important Considerations

* **Research**: Always do research on the policies of a centralized exchange you use.
* **Security Risks**: Using centralized exchanges can present extra security risks, as the funds on an exchange are never fully yours until you withdraw them.

*(page last updated January 10, 2025)*