#CEXvsDEX101 DEX (Decentralized Exchanges) like Uniswap or PancakeSwap enable direct peer-to-peer trading via smart contracts. Pros: users retain control of funds (non-custodial), no KYC (more privacy), censorship-resistant, wider token availability (especially new ones). Cons: steeper learning curve, potentially lower liquidity, higher network (gas) fees, limited customer support.
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