#CEXvsDEX101 Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs) are platforms for trading cryptocurrencies, but they differ significantly. CEXs, like Binance or Coinbase, are managed by a central authority, offering user-friendly interfaces, high liquidity, and fast transactions. However, they require users to trust the platform with funds, making them vulnerable to hacks or mismanagement. DEXs, like Uniswap or PancakeSwap, operate on blockchain without intermediaries, giving users control over their assets via smart contracts. While DEXs prioritize security and privacy, they often face lower liquidity, higher fees, and complex interfaces. Choosing between them depends on priorities: convenience and speed (CEX) or autonomy and security (DEX).