#中心化与去中心化交易所 Decentralized Exchanges (DEX) are based on blockchain technology, allowing users to control their private keys and assets, with transactions completed on the chain, such as Uniswap and PancakeSwap. Although they are safer and more transparent, transaction speeds are slower and liquidity is limited.

Both have their pros and cons; centralized exchanges are suitable for beginners and high-frequency trading, while decentralized exchanges are better for users who prioritize privacy and asset control. In the future, there may be a trend towards integration, forming a hybrid trading model.