#CEXvsDEX101 Here's a breakdown of centralized (CEX) and decentralized (DEX) cryptocurrency exchanges:

Centralized Exchanges (CEX):

* Pros: User-friendly interfaces, high liquidity for faster trades, easier fiat-to-crypto conversions, customer support, and often more advanced trading features (e.g., margin trading).

* Cons: Require users to give up control of their funds (custodial), vulnerable to hacks and censorship, require KYC/AML (Know Your Customer/Anti-Money Laundering) leading to less privacy, and can have higher fees.

Decentralized Exchanges (DEX):

* Pros: Users retain control of their funds (non-custodial), enhanced privacy (often no KYC), less susceptible to central hacks or censorship, and access to a wider range of new tokens.

* Cons: Can be less user-friendly, generally lower liquidity leading to potential slippage, slower transaction speeds (due to blockchain confirmations), and limited fiat on-ramps.

Choosing between CEX and DEX depends on individual priorities regarding security, convenience, and privacy.