CEX vs. DEX: Choosing a Platform for Cryptocurrency Trading! ⚖️
When trading cryptocurrency, you encounter two main types of exchanges:
Centralized Exchanges (CEX): Binance, Coinbase, etc. Managed by a company, they offer a user-friendly interface, customer support, and fiat gateways. Your funds are stored on the exchange.
Decentralized Exchanges (DEX): Uniswap, PancakeSwap, etc. Operate on the blockchain through smart contracts, allowing direct trading between users, without intermediaries. You have full control over your funds.
The choice between CEX and DEX depends on your priorities: convenience and support (CEX) or complete control and decentralization (DEX).