#CEXvsDEX101 Centralized exchanges (CEXs) and decentralized exchanges (DEXs) each have their pros and cons. CEXs like Binance or Coinbase are run by companies, offer high liquidity, and are user-friendly. They’re great for beginners, but they require KYC and you don’t control your private keys. DEXs like Uniswap or PancakeSwap are decentralized and allow users to trade peer-to-peer using smart contracts. You keep full control over your crypto but may face issues like higher gas fees or lower liquidity. DEXs also offer better privacy. Knowing when to use a CEX vs a DEX is key for successful and secure trading.