#CEXvsDEX101 CEX (Centralized Exchange):

* Advantages: Easy to use, high liquidity, supports fiat currency, many features.

* Disadvantages: No control over assets (exchange holds them), centralized hacking risk, requires KYC (identity verification).

DEX (Decentralized Exchange):

* Advantages: Self-custody of assets (personal wallet), privacy (no KYC), censorship-resistant.

* Disadvantages: Harder to use, liquidity may be low, high and volatile gas fees, fewer advanced features.