#CEXvsDEX101

Here’s a brief report comparing *CEX (Centralized Exchange)* and *DEX (Decentralized Exchange)* in crypto:

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*CEX vs DEX: Overview*

| Feature | *Centralized Exchange (CEX)* | *Decentralized Exchange (DEX)* |

|----------------------|--------------------------------------------------|--------------------------------------------------|

| *Control* | Controlled by a company (e.g., Binance, Coinbase) | User-controlled, no central authority (e.g., Uniswap, PancakeSwap) |

| *User Experience* | User-friendly, fast, with customer support | May require technical knowledge, wallet setup |

| *Security* | Custodial – risk of hacks or mismanagement | Non-custodial – user holds private keys |

| *Liquidity* | High, due to large user base | Can be lower or vary by token |

| *Fees* | Usually lower for big trades, can vary | Often higher due to gas fees |

| *Speed* | Fast, off-chain matching | Slower, on-chain settlement |

| *Regulation* | Subject to KYC/AML regulations | Mostly anonymous and permissionless