Centralized exchanges (CEX) such as Binance and Coinbase are more commonly used due to their user-friendly interface and customer support, but they rely on a third party to hold assets, which may expose them to hacking or downtime. In contrast, decentralized exchanges (DEX) like Uniswap allow users to trade assets directly from their wallets, enhancing security and control, but they are less user-friendly and may require more technical knowledge. Some prefer CEX for speed and liquidity, while others prefer DEX for privacy and decentralization. Each type has its advantages, and the best choice depends on the user's needs and goals.