#OrderTypes101 Centralized Exchanges (CEX) like Binance offer user-friendly interfaces, high liquidity, and fast transactions, making them ideal for both beginners and advanced traders. They act as intermediaries, managing order books, custody, and security. In contrast, Decentralized Exchanges (DEX) operate without intermediaries, allowing peer-to-peer trading through smart contracts. While DEXs offer more privacy and control, they often lack the speed, liquidity, and customer support found on CEX platforms.