#CEXvsDEX101 $BTC

In the world of cryptocurrency, there are two most common types of platforms – CEX (centralized exchanges) and DEX (decentralized exchanges). But what is the difference?

CEXs, such as Binance, Coinbase, or Bybit, are centralized platforms managed by companies. Their advantages include a user-friendly interface, customer support, and transaction speed. However, users need to relinquish control over their assets to this platform.

Meanwhile, DEXs, such as Uniswap or PancakeSwap, allow users to trade directly from their personal wallets. Privacy is better preserved, but higher technical knowledge is required.