👉🏻 When it comes to trading crypto, you’ve probably heard of CEXs and DEXs. But what do these terms mean, and which one should you use?
A CEX, or Centralized Exchange, like Binance, is a platform where a company manages the exchange of cryptocurrencies. They’re popular because they’re easy to use, support many crypto options, and provide customer support. CEXs also handle the security of your funds, though this means you’re trusting them to keep your assets safe.
A DEX, or Decentralized Exchange, is a platform where trades happen directly between users, without a central authority. You control your own assets and private keys, which many users love for privacy and security. However, DEXs can be harder to use and might not have as many trading pairs as a CEX.
In simple terms, CEXs are great for beginners who want convenience and support, while DEXs are perfect for those who prefer more control and privacy.
Before choosing, think about your needs. Do you value ease of use or total control?
Both CEXs and DEXs are shaping the future of crypto. Why not explore both?