#中心化与去中心化交易所 Analysis of Centralized and Decentralized Exchanges (CEX vs DEX)

Centralized exchanges (CEX) like Binance and Coinbase manage assets and facilitate trading through the platform. They have 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, which poses risks of hacking or fund freezing.

In contrast, decentralized exchanges (DEX) like Uniswap and PancakeSwap facilitate trading directly on-chain through smart contracts, allowing users to control their assets without third-party custody, which is relatively safer and more transparent. The downside is that the operational threshold is higher, transaction speeds are slower, and some lesser-known tokens may have insufficient liquidity.