#中心化与去中心化交易所

Centralized exchanges (CEX) such as Binance and Coinbase, where the platform manages assets and facilitates trading, 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 carries the risk of being hacked or having funds frozen.

In contrast, decentralized exchanges (DEX) such as Uniswap and PancakeSwap facilitate direct on-chain matching 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 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.