#中心化与去中心化交易所 Centralized and Decentralized Exchanges

Analysis of Centralized and Decentralized Exchanges (CEX vs DEX)

Centralized exchanges (CEX) such as Binance and Coinbase are platforms that custody assets and facilitate trading. They have user-friendly interfaces, high liquidity, and fast trading speeds, making them suitable for beginners and high-frequency traders. However, assets must be stored on the platform, which carries the risk of hacking or fund freezing.

In contrast, decentralized exchanges (DEX) such as Uniswap and PancakeSwap match trades directly on-chain through smart contracts, allowing users to control their assets without third-party custody, making them safer and more transparent. The downside is that the operational threshold is higher, trading speeds are slower, and some smaller tokens may have insufficient liquidity.

Overall, CEX is suitable for stable operations, while DEX emphasizes trustlessness and autonomy, allowing users to choose flexibly according to their needs.