#CEXvsDEX101 CEX vs DEX: Key Differences

FeatureCentralized Exchange (CEX)Decentralized Exchange (DEX)ControlControlled by a central authorityUsers control their own fundsCustodyPlatform holds user fundsNon-custodial (user keeps keys)Ease of UseUser-friendly, easier for beginnersRequires more technical knowledgeSpeedFast transactionsMay be slower (depending on network)LiquidityHigh liquidityCan be lower, depending on usageSecurityProne to hacks if platform is compromisedSafer if smart contracts are secureKYC/AMLOften requiredUsually not