#CEXvsDEX101

💡 CEX vs DEX 101: Understanding the Key Differences 💡

When it comes to trading crypto, you’ve probably heard of Centralized Exchanges (CEX) and Decentralized Exchanges (DEX), but what’s the difference? Let’s break it down:

🔹 CEX (Centralized Exchanges):

These are platforms like Binance, Coinbase, and Kraken, where a central entity controls all operations.

They provide high liquidity, easy-to-use interfaces, and customer support.

However, you have to trust them with your funds, and your assets can be at risk if the exchange gets hacked.

🔹 DEX (Decentralized Exchanges):

Think Uniswap, SushiSwap, and PancakeSwap – no central authority.

They let you trade directly from your wallet, maintaining control over your funds.

Lower liquidity and often more complex, but greater privacy and security.

💥 Which one should you choose?

CEX is great for beginners and traders looking for convenience and speed.

DEX is ideal for privacy-focused users and those seeking more control over their assets.

What’s your preference? Drop your thoughts below!

#CryptoBasics #Blockchain #Cryptocurrency