#中心化与去中心化交易所 **Comparison between centralized and decentralized exchanges**

Centralized exchanges (CEX) such as Binance are managed by third-party institutions and provide high liquidity, fast transactions and fiat currency channels, but users need to custody assets, which poses security risks. Decentralized exchanges (DEX) such as Uniswap and PancakeSwap are based on blockchain smart contracts. Users hold their own private keys, and assets are safer, but liquidity is low, transaction speed is slow, and there is a lack of fiat currency support. CEX is suitable for novices and efficient transactions, while DEX is suitable for users who focus on privacy and security. Both have their own advantages and disadvantages, and jointly promote the development of the crypto market.