#CEXvsDEX101

My first steps on Binance were to Binance Academy, where I learned about the essence of blockchain. And also in comparison with blockchain, one can provide characteristics of CEX (centralized exchange) and DEX (decentralized exchange).

So:

Blockchain:

-decentralization;

-transparency;

-user control

CEX (Centralized Exchange)

-company control;

-keys are held by the exchange;

-less transparency

DEX (Decentralized Exchange)

-keys are with you;

-smart contracts process transactions;

-all transactions on the blockchain.

That is, CEX is convenient, but not independent.

DEX is more complex, but blockchain-based.

In my opinion, one should try both formats and choose what aligns more with your values.

And what is your opinion?