#CEXvsDEX101 Centralized exchanges (CEX), such as Binance or Coinbase, are managed by companies that handle users' funds and offer high liquidity, user-friendly interfaces, and fast transactions. However, they require KYC and can be vulnerable to hacks. Decentralized exchanges (DEX), such as Uniswap or PancakeSwap, allow peer-to-peer trading through smart contracts without intermediaries, offering greater privacy and control. However, they often have lower liquidity, higher slippage, and a steeper learning curve.