#CEXvsDEX101

A Centralized Exchange (CEX) is managed by a company (like Binance or Coinbase) that controls users' funds and facilitates crypto trading. It offers high liquidity, fast transactions, and customer support but requires trust in the platform.

A Decentralized Exchange (DEX), like Uniswap or PancakeSwap, operates without intermediaries, allowing users to trade directly from their wallets. It offers more privacy and control, but usually has lower liquidity and may be less user-friendly.

In short, CEX is easier and faster but needs trust; DEX is more private and secure but may be slower and complex for beginners.