#CEXvsDEX101

Understanding the Difference

CEX (Centralized Exchange) platforms like Binance or Coinbase offer high liquidity, fast transaction speeds, and good customer support. However, users must trust and relinquish control of their assets to a third party. In contrast, DEX (Decentralized Exchange) platforms like Uniswap or PancakeSwap allow direct trading between users' wallets, enhancing privacy and control. However, DEXs often have higher fees and are less user-friendly for newcomers. Understanding the pros and cons helps you choose the right platform that suits your needs.