CEX (Centralized Exchanges) are cryptocurrency trading platforms that operate as intermediaries, holding users' funds and offering ease of use, high liquidity, and support for fiat currencies. However, users do not have full control over their funds, and there are risks related to security and privacy.
DEX (Decentralized Exchanges) allow direct trading between users through smart contracts, providing self-custody, greater privacy, and resistance to censorship. Disadvantages include a steeper learning curve, lower liquidity on some platforms, and greater responsibility for the user in managing their assets.
The choice between CEX and DEX depends on the user's priorities, with CEXs being more suitable for beginners and DEXs for those seeking greater control and privacy, although many experienced users utilize both.