#CEXvsDEX101🔥 Centralized exchanges (CEXs) are platforms like Binance or Coinbase that offer user-friendly interfaces and high liquidity but require users to trust a third party with their funds. Decentralized exchanges (DEXs), such as Uniswap or PancakeSwap, allow peer-to-peer trading without intermediaries, promoting privacy and control. However, they may have lower liquidity and steeper learning curves. Security varies: CEXs can be hacked, while DEXs may have smart contract risks. CEXs often comply with regulations, while DEXs operate more freely. Choosing between them depends on priorities like ease of use, control, fees, and security. Both have unique strengths, serving different user needs effectively.