#CEXvsDEX101 You're diving into the world of cryptocurrency exchanges!

*CEX (Centralized Exchange)*:

- Operated by a central authority

- Users deposit funds into the exchange's custody

- Often provides better liquidity and user experience

- Examples: Binance, Coinbase

*DEX (Decentralized Exchange)*:

- Operates on a blockchain, allowing peer-to-peer transactions

- Users retain control of their funds

- Offers greater security and decentralization

- Examples: Uniswap, PancakeSwap

Key differences:

- *Custody*: CEX holds user funds, while DEX users manage their own.

- *Security*: DEX is generally considered more secure due to decentralization.

- *Liquidity*: CEX often has better liquidity due to larger user bases.

Which one do you prefer? Or do you have specific questions about CEX vs DEX?