#交易流动性 Analysis of Centralized and Decentralized Exchanges (CEX vs DEX)

Centralized exchanges (CEX) such as Binance and Coinbase, where the platform manages assets and matches trades, offer user-friendly interfaces, high liquidity, and fast transaction speeds, making them suitable for beginners and high-frequency traders. However, assets must be stored on the platform, exposing users to risks of hacking or fund freezing.

In contrast, decentralized exchanges (DEX) like Uniswap and PancakeSwap match trades directly on-chain through smart contracts, allowing users to control their assets without third-party custody, which is generally safer and more transparent. The downside is that the operational threshold is higher, transaction 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 based on their needs.