#CEXvsDEX101 Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) are platforms for trading cryptocurrencies. CEXs, like Binance or Coinbase, are managed by companies that control user funds and handle transactions. They offer high liquidity, speed, and customer support but require users to trust the platform. DEXs, such as Uniswap or PancakeSwap, operate without intermediaries, allowing users to trade directly from their wallets using smart contracts. They provide greater privacy and control but may have lower liquidity and a steeper learning curve. Choosing between CEX and DEX depends on user preference for convenience, security, and decentralization. Each has unique benefits and risks.