#CEXvsDEX101 👻 DECENTRALIZED EXCHANGES (DEX):

* What are they? P2P platforms that operate directly on the blockchain. You always have control of your funds.

* Advantages: No KYC (privacy), your funds are always in your wallet (non-custodial), censorship resistance, access to very new or niche tokens.

* Disadvantages: They can be more complex to use, lower liquidity in some pairs, gas fees (network) that can be high, no direct fiat conversion, less customer support.

* When to use them? For experienced traders, if you value privacy, if you want to access low-cap tokens, or if you want to avoid third-party custody.