#CEXvsDEX101 Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) are two different ways to trade cryptocurrencies, each with its own advantages and drawbacks.

- **CEX (Centralized Exchange)**: These are platforms like Binance, Coinbase, and Kraken, where transactions are managed by a central authority. They offer high liquidity, user-friendly interfaces, and security measures, but require users to trust the platform with their funds[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.coinrank.io/learn/choosing-the-right-cryptocurrency-exchange-cex-vs-dex/?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "1").

- **DEX (Decentralized Exchange)**: These operate without a central authority, using smart contracts to facilitate trades directly between users. They provide more privacy and control over assets but can be less user-friendly and have lower liquidity[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.bitget.com/academy/CEX-VS-DEX?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "2").

If you're looking for a deeper dive into the differences, you can check out this [article](https://www.bitget.com/academy/CEX-VS-DEX) or this [guide](https://www.coinrank.io/learn/choosing-the-right-cryptocurrency-exchange-cex-vs-dex/). Are you considering trading on one of these platforms?