Centralized exchanges (CEXs) and decentralized exchanges (DEXs) serve the same purpose — enabling crypto trading — but work very differently. CEXs like Binance or Coinbase offer high liquidity, fast transactions, and customer support but require users to trust the platform with their funds. DEXs like Uniswap or PancakeSwap allow peer-to-peer trading directly from wallets, offering more privacy and control but often come with lower liquidity and slower speeds. Security, custody, and user experience are key differences. As a trader, understanding both can help you make smarter moves depending on your goals and risk tolerance.
