#CEXvsDEX101 A CEX (centralized exchange) is a platform managed by a company that acts as an intermediary, where you need to register and trust them with your funds; it is easy to use, has high liquidity, and customer support. Examples: Binance, Coinbase.

A DEX (decentralized exchange) operates without intermediaries, using smart contracts so you maintain full control of your funds in your wallet, without the need for registration. It offers more privacy and access to more tokens, but it can be more complex and have less support. Examples: Uniswap, Sushiswap.

In summary:

• CEX = simpler, reliable, but central control

• DEX = freer, private, but more technical and with user risks