#CEXvsDEX101

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### 🚩 What is the difference between them?

* **CEX (Centralized Exchange):**

An exchange like Binance or Coinbase or Kraken operated by a central authority that controls trading, user funds, and security.

* **DEX (Decentralized Exchange):**

A marketplace between individuals like Uniswap or PancakeSwap or dYdX that allows users to trade currencies directly from their wallets using smart contracts.

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### ⚙️ Key Differences

| Feature | CEX (Centralized Exchange) | DEX (Decentralized Exchange)

| **Asset Custody** | The exchange holds user funds | The user holds their own funds |

| **Identity Verification (KYC)** | Often required | Often not required |

| **Speed** | Fast (Centralized servers) | Slower (Depending on blockchain confirmations) |

| **Liquidity** | Usually higher | Relatively lower but improving |

| **Ease of Use** | User-friendly and simple interface | May require more technical knowledge |

| **Security Risks** | Prone to hacks or data leaks | Risks in smart contracts only |

| **Listing Control** | The exchange decides what gets listed | Community-driven or automatic without permission |

### ✅ Pros and ❌ Cons

**Pros of CEX**

✅ High liquidity

✅ User-friendly interface

✅ Fast trade execution

✅ Direct technical support