#CEXvsDEX101
Centralized Exchanges (CEXs) like Binance offer user-friendliness, high liquidity, and often fiat on-ramps. However, you surrender custody of your assets, making them vulnerable to hacks or regulatory issues. KYC is mandatory.
Decentralized Exchanges (DEXs) like Uniswap provide self-custody and enhanced privacy, as trades occur directly from your wallet via smart contracts. This eliminates intermediaries and KYC. However, DEXs can have lower liquidity, higher gas fees, and a steeper learning curve. Choosing between them depends on your priorities: convenience and features (CEX) versus control and anonymity (DEX)
