In crypto, like in "Game of Thrones", the main question is — who do you trust your power to? That is your tokens. You have two options: centralized exchange (CEX) — convenient, like a banking app, but with an admin who has a button "freeze account"…
Or a decentralized exchange (DEX) — wild, like nighttime DeFi, but without a watchdog.
Let's go through everything, not hiding behind abbreviations.
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🔐 CEX — "All inclusive", but with a bracelet on your wrist
You come to Binance, KuCoin or OKX — everything is clear there.
Your USDT is stored in the account, not in Metamask. The interface is smooth, orders fly like lightning, buying Shiba Inu — 2 clicks. Everything is great… until the first KYC check.
Sometimes you just want to withdraw cash, and they say: "Please, take a selfie with ID, confirm the address and tell us why you need USDC."
📌 Pros:
💳 fiat → crypto? Easy.
🛡️ high level of security (for beginners).
🧪 Launchpads, Launchpools, various activities = countless ways to farm and catch new tokens.
💬 Support 24/7 — want to complain, not just scream on Twitter? Here you can.
📌 Cons:
👁️ KYC = they know who you are, where you live and how much BTC you have.
❄️ frozen funds: your account can be blocked for "suspicious activity".
🧷 Not your keys — not your crypto. The exchange will burn, like FTX — your funds go to hell with it.
⛔ Country restriction. Living in the wrong region — goodbye.
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🕸️ DEX — "You are your own exchange, your own support"
Uniswap, STON.fi, PancakeSwap — this is no longer a service. This is a protocol. A contract.
No one will say you didn't pass KYC. No one will block you. But no one will save you if you accidentally approve the script of some next Fake Pepe ShitToken 9000.
📌 Pros:
👤 Anonymity. Complete.
🔐 Own the private key — own everything.
🧬 Tokens appear here first. Farming something new? Go to DEX.
🧙♂️ Everything that doesn't make it to Binance — you will find here. If you know where to look.
📌 Cons:
🧠 UX often like in Windows 98: you need to understand what you are doing.
🕳️ Anyone can drop a fake token disguised as SHIBAIPE.
🧼 Skills needed: how to connect a wallet, check a contract, calculate gas fee.
🚫 No support. There’s Twitter and Reddit.
🎯 How do I use it?
I withdraw fiat to CEX
I trade altcoins on DEX
I farm launchpads on CEX
I loot airdrops on DEX
I live in both worlds, like Neo, because I know: who controls the keys — controls the game.
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🧠 Tips for beginners:
🛡️ If you're not sure — start with CEX
🪖 Want to learn — create a Metamask, throw in $50, and play around
🧊 Use aggregators like 1inch or STON.fi — convenient and more profitable
🔍 Check everything on DEXTools, CoinTool, and always Google the contract
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🧨 And the main thing — it's not about "what's better"
This is a question of freedom vs convenience
🔐 CEX — comfort, but control
🧙♂️ DEX — freedom, but risk
Today you are a novice on Binance, tomorrow — you are encrypting on zkSync and sending tokens across 4 bridges.
Both exchanges are needed. But only you decide who manages your portfolio.