#CEXvsDEX101
Centralized Exchanges (CEX):
Such as: Binance, Coinbase, Kraken
✅ Advantages:
Ease of use: User-friendly interface for beginners.
High liquidity: Fast order execution.
Customer support: Availability of customer service for assistance.
Ability to deposit in local currencies: Such as USD or EUR.
❌ Disadvantages:
Requires registration: KYC (Know Your Customer).
Holding assets on the platform: Means you don't own your private keys.
Vulnerability to hacks: Many platforms have been hacked historically.
---
🌐 Decentralized Exchanges (DEX):
Such as: Uniswap, PancakeSwap, dYdX
✅ Advantages:
No registration: No need for an account or identity verification.
Full control of your funds: Private keys remain with you.
Higher security and privacy: The platform does not control your funds.
