#CEXvsDEX101 Binance operates both a CEX (Centralized Exchange) and a DEX (Decentralized Exchange). The CEX is the main Binance.com platform, offering high liquidity, advanced trading tools, and customer support, but requires KYC and you don't control your private keys. Binance DEX, built on BNB Chain, allows peer-to-peer trading directly from your wallet, offering greater privacy and self-custody, but often with lower liquidity and a less user-friendly interface. Choose based on your priorities: convenience/features vs. decentralization/control.