#CEXvsDEX101
In the world of cryptocurrency trading, there are two main types of platforms: centralized exchanges (CEX) and decentralized exchanges (DEX)📌 Centralized exchanges (CEX) like Binance# or Coinbase rely on a single operating entity that controls the transactions. They provide a seamless user experience, high liquidity, and support services, but they require trust in the intermediary and the storage of funds in the platform's wallets.
📌 Decentralized exchanges (DEX) like Uniswap or PancakeSwap operate without a central intermediary, giving users complete control over their funds through personal wallets. However, they may be less user-friendly for beginners and sometimes suffer from a lack of liquidity.
Each type has its advantages and challenges, and your choice depends on your need for privacy, security, and ease of use.
Which one do you prefer? 🤔