#CEXvsDEX101 CEX (Centralized Exchange):

* Advantages: Easy to use, high liquidity, supports fiat currency, many features.

* Disadvantages: No asset control (the exchange holds assets), centralized hack risks, requires KYC (identity verification).

DEX (Decentralized Exchange):

* Advantages: Self-control of assets (private wallet), privacy (no KYC), censorship-resistant.

* Disadvantages: More difficult to use, liquidity may be low, high and volatile gas fees, fewer advanced features.

In summary: CEX is convenient for beginners, DEX is safer and more private but requires knowledge.