#CEXvsDEX101 

CEX vs DEX: A 100-Word Overview

Centralized Exchanges (CEXs) are platforms like Binance and Coinbase where users trade cryptocurrencies through an intermediary. They offer user-friendly interfaces, fiat support, and fast transactions but require KYC verification and hold users' funds, making them potential targets for hacks. (Investopedia, CoinMarketCap)

Decentralized Exchanges (DEXs) operate on blockchain protocols, allowing peer-to-peer trading without intermediaries. Users retain control over their private keys and funds, enhancing security. However, DEXs may have lower liquidity, higher transaction fees due to gas costs, and lack fiat support. (Investopedia, CoinMarketCap)

Choosing between CEX and DEX depends on factors like user experience, control over funds, and desired features.