#CEXvsDEX101 Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) are platforms for exchanging cryptocurrencies, but they operate differently. CEXs, like Binance or Coinbase, are managed by a centralized company that acts as an intermediary, offering greater liquidity, speed, and ease of use, although with less privacy and control for the user. In contrast, DEXs, like Uniswap or PancakeSwap, allow direct trading between users through smart contracts, without intermediaries. They offer greater anonymity and control over funds, but can be more complex and have lower liquidity. The choice between CEX and DEX depends on the user's priorities: convenience and support or autonomy and decentralization.