#中心化与去中心化交易所

1. What is a centralized exchange (CEX)?

A centralized exchange is a platform operated by a company or team, similar to a traditional bank, that helps you custody assets, process transactions, and provide customer service.

Common examples:

• Binance

• OKX

• Bybit

• Coinbase

• Bitget

Advantages:

✅ Easy to operate, suitable for beginners

✅ Customer support available

✅ Supports fiat deposits (such as credit cards, bank transfers)

✅ Has a complete interface with APP, candlestick charts, limit/market trading, etc.

✅ High trading depth and fast speed

Disadvantages:

❌ Requires registration and KYC (identity verification)

❌ Assets are held by the exchange, which carries risk (e.g., FTX collapse)

❌ Accounts may sometimes be frozen or withdrawals restricted

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2. What is a decentralized exchange (DEX)?

A decentralized exchange is an application built on the blockchain, not controlled by a single company, that conducts buy and sell transactions through smart contracts, with assets fully under your control.

Common examples:

• Uniswap

• PancakeSwap

• dYdX, GMX (decentralized derivatives exchanges)

Advantages:

✅ No registration required, no KYC, high anonymity

✅ Assets are self-custodied, high security (provided you manage your private keys well)

✅ Accounts are rarely frozen

✅ Often has newly listed tokens, providing great early trading opportunities

Disadvantages:

❌ High operational threshold, needs to connect a wallet (e.g., MetaMask)

❌ Requires payment of on-chain fees (Gas)

❌ More fraudulent tokens and scams, difficult to control risks

❌ Lower liquidity, small tokens can easily slip in price

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3. Which type of exchange should beginners choose?

✅ If you are a complete beginner, it is recommended to start with CEX:

• The reason is simple: user-friendly, has Chinese support, allows deposits in New Taiwan Dollars, and has low learning costs

• Recommended platforms: Binance, Bybit, OKX, Bitget (these all have complete APPs and spot/contract functionalities)

✅ If you are already familiar with the basics of blockchain and want to explore early projects:

• You can gradually learn to use DEX, such as Uniswap or PancakeSwap

• The premise is that you need to learn how to use a wallet (like MetaMask) and how to avoid scam projects

Beginners do not necessarily have to go decentralized, but they should "understand its existence."