$BTC ### **#CEXvsDEX101 – Centralized vs. Decentralized Exchanges**
When trading crypto, you’ll mainly use **Centralized Exchanges (CEXs)** or **Decentralized Exchanges (DEXs)**. Here’s a quick breakdown:
| Feature | **CEX (e.g., Binance, Coinbase)** | **DEX (e.g., Uniswap, dYdX)** |
|-----------------|----------------------------------|--------------------------------|
| **Control** | Controlled by a company | Runs on smart contracts (no central authority) |
| **Custody** | You don’t own private keys | You control your wallet (self-custody) |
| **Liquidity**
#slm