#CEXvsDEX101 CEX (centralized exchanges), like Binance or Coinbase, offer convenience, high liquidity, and user support. They require verification (KYC) and hold users' funds.
DEX (decentralized exchanges), like Uniswap or PancakeSwap, operate without intermediaries, do not require KYC, and allow users to maintain control over their wallet. However, they have lower liquidity and a more complex interface.
CEX is better suited for beginners, while DEX is for those who value privacy and independence.
The choice depends on the priority: convenience and support (CEX) or decentralization and control (DEX).
