$ETH When I started trading crypto, one of my biggest questions was whether to use a centralized exchange (CEX) or a decentralized exchange (DEX).

Each has its own pros and cons. Centralized exchanges like Binance offer higher liquidity, easy fiat on-ramps, and faster trade execution. They’re great for beginners who need a simple interface and customer support. However, they also require KYC (know-your-customer) processes, and you’re trusting them to hold your funds—meaning hacks or freezes are possible.

On the other hand, DEXs like give you full custody of your funds and more privacy. Trades are peer-to-peer, and there’s no single point of failure.

But DEXs often have lower liquidity, higher slippage, and can be trickier to use, especially for newcomers.