#CEXvsDEX101 Centralized exchanges (CEXs) and decentralized exchanges (DEXs) serve as platforms for trading cryptocurrencies, but they operate differently. CEXs are managed by centralized organizations that facilitate trades, offering features like high liquidity, user-friendly interfaces, and customer support. However, they require users to trust the platform and their funds are often held by the exchange. In contrast, DEXs operate without a central authority, allowing peer-to-peer trading directly on the blockchain. They prioritize user privacy and control over funds but often come with lower liquidity and more complex interfaces. Ultimately, the choice between CEXs and DEXs depends on individual preferences for convenience versus control.