#CEXvsDEX101

**CEX (Centralized Exchange):**

- Controlled by a company (e.g., Binance, Coinbase).

- Faster, user-friendly, with fiat support.

- Requires KYC; risks hacks or shutdowns.

**DEX (Decentralized Exchange):**

- Runs on blockchain (e.g., Uniswap, PancakeSwap).

- No middleman; users trade peer-to-peer via smart contracts.

- Non-custodial (you own your keys), but slower & complex.

**Key Difference:**

CEX = Convenience but less privacy.

DEX = Freedom but higher responsibility.

Choose CEX for ease, DEX for true decentralization.