#CEXvsDEX101

Here's a short #CEXvsDEX101 summary in exactly 100 words:

**Centralized Exchanges (CEX):**

* **Like Banks:** You deposit funds; they hold custody.

* **Pros:** Easy to use, fast trades, high liquidity, fiat on/off ramps (USD, EUR), customer support.

* **Cons:** Requires KYC (ID verification), vulnerable to hacks/theft, control relinquished.

* **Examples:** Binance, Coinbase, Kraken.

**Decentralized Exchanges (DEX):**

* **Peer-to-Peer:** Trade directly from your wallet; **you hold custody.**

* **Pros:** No KYC (pseudonymous), resistant to single-point hacks, permissionless.

* **Cons:** Steeper learning curve, slower, relies on liquidity pools, gas fees, limited fiat access.

* **Examples:** Uniswap, PancakeSwap, dYdX.

**Choose CEX for ease/fiat, DEX for control/privacy. Understand the trade-offs!**