#OrderTypes101 #CEXvsDEX101 There are two main types of crypto exchanges: centralized exchanges (CEXs) and decentralized exchanges (DEXs). CEXs like Binance or Coinbase act as middlemen, holding your funds and processing trades for you. They are easy to use, have high liquidity, and often let you deposit or withdraw regular money (fiat). However, you don’t control your private keys, so if the exchange faces problems, your funds might be at risk. Plus, you need to provide personal information for KYC.

On the other hand, DEXs such as Uniswap let you trade directly from your own wallet without giving up control of your coins. They don’t require sign-ups or KYC and offer access to many tokens, especially new ones. But DEXs are harder for beginners, can have higher fees due to blockchain gas costs, and mistakes can’t be reversed because there’s no customer support.

In my experience, both have uses. For big trades or cashing out, I prefer CEXs because of convenience and safety. For quick swaps or exploring new tokens, I use DEXs. When choosing, consider security, fees, liquidity, and speed. For first-time DEX users, start small, double-check everything, and keep your wallet’s seed phrase safe.

In short, CEXs are easier but less private, while DEXs offer freedom with more responsibility.