Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs) are two primary ways to trade crypto. CEXs like Binance or Coinbase act as intermediaries, offering user-friendly interfaces, fast transactions, and customer support. However, users must trust the platform with their funds and personal data.
DEXs like Uniswap or PancakeSwap operate without intermediaries, allowing peer-to-peer trades via smart contracts. They offer greater privacy and control over funds, but typically have a steeper learning curve, lower liquidity, and slower speeds.
CEXs are ideal for beginners and active traders wanting speed and ease. DEXs suit users prioritizing privacy, decentralization, and self-custody. Understanding the strengths and trade-offs of each helps you choose the right platform for your crypto journey.
