#CEXvsDEX101 CEX (Centralized Exchanges) are traditional crypto exchanges like Coinbase or Binance. They act as intermediaries, holding user funds (custodial) and managing transactions. Pros: user-friendly, high liquidity, fiat-to-crypto options, customer support. Cons: security risks (centralized target for hacks), require KYC/AML (less privacy), less control over funds.

DEX (Decentralized Exchanges) like Uniswap