#CEXvsDEX101
Centralized vs. Decentralized Exchanges ๐ #CEXvsDEX101
๐ CEX (Centralized Exchange)
Examples: Binance, Coinbase
โ
Pros:
High liquidity
Faster trade execution
User-friendly interfaces
Customer support available
โ Cons:
Requires KYC
Funds are held by the exchange
Prone to hacks if security is breached
๐ DEX (Decentralized Exchange)
Examples: Uniswap, PancakeSwap
โ
Pros:
Full control of your assets
No KYC (more privacy)
Transparent and trustless via smart contracts
โ Cons:
Lower liquidity (for some pairs)
Slower transactions
More complex UI for beginners
๐ง My Take:
I use CEXs for quick trades, fiat on-ramps, and access to major tokens. I prefer DEXs when privacy matters or for exploring new DeFi gems early.
๐ก Both have their placeโchoose based on your needs and risk appetite!
