#CEXvsDEX101 Centralization vs. Decentralization in #Crypto and Binance

Cryptocurrencies like #Bitcoin and #Ethereum were born with the promise of decentralization, eliminating intermediaries like banks through blockchain, where transactions are validated by distributed nodes 🌐. This empowers users, but exchanges like Binance introduce a degree of centralization. Binance, as a centralized platform, controls users' funds, offering speed and ease to trade #BNB or #ETH 🚀. However, this implies trusting their security, unlike decentralized wallets where you control your private keys 🔐. Although Binance offers efficient trading, the pure decentralization of #Crypto fosters autonomy, while centralized exchanges prioritize convenience. The choice depends on your priorities: total security or practicality? 🌟