#CEXvsDEX101
Here’s a clean and easy-to-read breakdown for #CEXvsDEX101
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CEXvsDEX101
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1 Definition
CEX Centralized exchange run by a company
DEX Decentralized exchange run by smart contracts
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2 Control
CEX Platform holds user funds
DEX User retains full control of assets
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3 KYC Requirements
CEX Requires identity verification
DEX Usually no KYC needed
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4 Custody
CEX Custodial users do not hold private keys
DEX Non custodial users hold their own keys
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5 Speed and Liquidity
CEX Faster with higher liquidity
DEX May be slower with lower liquidity
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6 Trading Pairs
CEX Often supports fiat and crypto pairs
DEX Mostly crypto to crypto pairs
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7 User Experience
CEX Easy to use with customer support
DEX May require more technical knowledge
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8 Security Risks
CEX Target for hacks due to centralization
DEX Safer from central point failures but still risks exist
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9 Fees
CEX May have higher trading and withdrawal fees
DEX Usually lower fees but includes gas costs
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10 Examples
CEX Binance Coinbase Kraken
DEX Uniswap PancakeSwap SushiSwap
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