#CEXvsDEX101

In the world of cryptocurrencies, the choice between a centralized exchange (CEX) and a decentralized exchange (DEX) depends on your priorities.

CEXs (e.g. Binance) are easier to use, offer high liquidity and faster transaction speeds, as well as customer support. However, with a CEX, you do not have full control of your funds, as the platform holds them, and they require KYC (know your customer) processes that compromise your privacy.

On the other hand, DEXs (e.g. Uniswap) give you full control of your assets (your private keys are yours), greater privacy as they do not require KYC, and are less vulnerable to large-scale hacks. However, they tend to be more complex for beginners, liquidity may be lower, and transactions can be slower with variable "gas" fees.