Centralized exchanges (CEX) offer speed, high liquidity, and user-friendly interfaces—perfect for beginners. However, they hold your keys, which means less control over your assets. Decentralized exchanges (DEX), on the other hand, provide greater privacy, control, and security by allowing peer-to-peer trading without intermediaries. But they can be slower, less liquid, and more complex to use. Both have advantages and disadvantages depending on your goals and experience. Want control and privacy? Choose a DEX. Prefer simplicity and speed? Try a CEX. Know your options before trading.