#CEXvsDEX101 Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs) serve as platforms for cryptocurrency trading but differ significantly. CEXs, like Coinbase and Binance, are managed by a central entity, offering user-friendly interfaces, high liquidity, fiat currency support, and customer service. However, they hold users’ funds and private keys, posing security risks like hacks. DEXs, such as Uniswap, operate on blockchain with smart contracts, enabling peer-to-peer trading without intermediaries. They provide user control, privacy, and censorship resistance but often face lower liquidity, slower transactions, and complex interfaces. Choosing between them depends on trading needs, security preferences, and technical expertise.