#CEXvsDEX101 CEX (Centralized Exchange) and DEX (Decentralized Exchange) are two types of platforms for cryptocurrency trading. CEXs like Binance or Coinbase are managed by a central authority, providing high liquidity, fast trading, and customer support, but require users to trust the platform and complete KYC. DEXs, such as Uniswap or PancakeSwap, allow peer-to-peer trading without intermediaries. Users maintain complete control over their funds and do not need to register, which enhances privacy. However, DEXs often have lower liquidity and can be more complex for beginners. Each type has its own advantages and disadvantages, and the choice between them depends on the user's preferences and risk tolerance.