#CEXvsDEX101 Centralized Exchange (CEX) like Binance or Coinbase is operated by companies acting as intermediaries, offering a user-friendly interface, high liquidity, and customer support. However, they require KYC and hold your funds.

Decentralized Exchange (DEX) like Uniswap or PancakeSwap operates without intermediaries. You trade directly from your wallet, maintaining control over your assets. DEX offers greater privacy and is resistant to censorship, but may have less liquidity and can be complex for beginners.

Choosing between CEX and DEX depends on your priorities: convenience and support, or control and privacy.