#交易流动性

### **Decentralized Exchange (DEX)**

- **Non-Custodial Model**: Users hold private keys and trade directly on-chain (e.g., Uniswap).

- **Trading Method**: Automated Market Maker (AMM) or peer-to-peer matching, with no central server.

- **Advantages**: Censorship-resistant, asset autonomy, transparent and verifiable chain.

- **Risks**: Smart contract vulnerabilities, liquidity fragmentation, gas fee fluctuations.

**Key Difference**: **CEX = Efficiency first but sacrifices control, DEX = Security and autonomy but sacrifices usability**. New users are advised to start with CEX, but be sure to transfer assets to a cold wallet!