CEX or DEX? The Difference Explained Simply 😅
📌 Centralized Exchanges (CEX):
Managed by companies like Binance and Coinbase.
Advantages:
1️⃣ Easy to use
2️⃣ Technical support
3️⃣ High liquidity
Disadvantages:
1️⃣ They control your money
2️⃣ Vulnerable to hacking
3️⃣ Require identity verification (KYC)
🔓 Decentralized Exchanges (DEX):
Operate through smart contracts without an intermediary.
Advantages:
1️⃣ Full control over your money
2️⃣ High privacy
3️⃣ Resistant to censorship
Disadvantages:
1️⃣ Difficult for beginners
2️⃣ Lower liquidity
3️⃣ No technical support
💡 Conclusion:
If you prefer convenience and are willing to take risks, a centralized exchange is for you. However, if you value privacy and complete control, a decentralized exchange is your choice. Just remember: "Not your keys? Not your coins!" 😄
