Centralized Exchange (CEX) such as Binance and Coinbase offer user-friendly interfaces, high liquidity, and customer support. However, they require users to verify their identity and relinquish control of assets to the platform. In contrast, Decentralized Exchange (DEX) such as Uniswap and PancakeSwap give users full control over their assets and transactions occur peer-to-peer without third parties. However, DEXs usually have lower liquidity and can be confusing for beginners. Understanding the advantages and disadvantages of each can help you choose the right platform.
