#CEXvsDEX101 Centralized exchanges (CEX) and decentralized exchanges (DEX) are platforms for trading cryptocurrencies, but they differ in structure and control. CEXs, like Binance or Coinbase, are managed by companies that handle user funds and offer high liquidity, user-friendly interfaces, and fast transactions. However, they require KYC and can be vulnerable to hacks. DEXs, like Uniswap or PancakeSwap, allow person-to-person trading through smart contracts without intermediaries, offering greater privacy and control. However, they often have lower liquidity, higher slippage, and a steeper learning curve. Ultimately, CEXs are suitable for beginners and fast traders, while DEXs attract users who value decentralization, security, and autonomy over convenience.