#CEXvsDEX101 ๐: Know the Exchange Before You Trade
Not all exchanges are created equal. Hereโs a quick cheat sheet:
๐ก CEX (Centralized Exchange):
User-friendly interface โ
Higher liquidity ๐ง
Requires KYC ๐ชช
You donโt control your private keys ๐
๐ฃ DEX (Decentralized Exchange):
Full control of your funds ๐ผ
Anonymous (no KYC) ๐ต๏ธ
Slower, network-dependent โ๏ธ
Requires more knowledge โ๏ธ
๐ Bottom line:
โก๏ธ CEX = Convenience & Speed
โก๏ธ DEX = Privacy & Control
Which one do you trust more with your crypto? Drop your thoughts ๐