In the world of cryptocurrencies, there are two main types of platforms to buy, sell, or exchange assets: centralized exchanges (CEXs) and decentralized exchanges (DEXs). Each has its advantages, and the choice depends on your profile and priorities.
๐๏ธ Centralized Exchange (CEX)
These are platforms managed by companies like Binance. They are easy to use, with an intuitive interface, available customer service, and high liquidity, which means orders are executed quickly and at competitive prices.
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Ideal for: beginners, those looking for speed and ease
๐ Security: the exchange holds the funds for you
โก๏ธ Advantage: fast order execution
๐ Limitation: less direct control over private keys
๐ Decentralized Exchange (DEX)
These platforms allow peer-to-peer exchanges, without intermediaries. You maintain full control of your assets through your own wallet.
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Ideal for: those who prioritize control and privacy
๐ Security: you hold your own private keys
๐ Advantage: no deposit required on a platform
โ ๏ธ Limitation: interface can be complex at times, less liquidity
๐งฎ Comparison table: CEX vs DEX
๐ And in practice, what do you have to do?
๐ On a CEX (like Binance), you create an account, deposit crypto or money (via card or transfer) as you wish, and then you can buy or sell crypto in just a few clicks. The interface is designed to guide the user step by step.
๐ On a DEX, you connect your wallet (like Trust Wallet), choose the crypto you want to exchange, and sign the transaction. No need to create an account, but you need to understand a bit more about how it works.
๐ Some practical tips
Before choosing between a CEX and a DEX, ask yourself these questions:
Do I need customer support or am I comfortable with technical tools?
Do I prefer the security offered by a company or personal control of my keys?
You can also use both types of platforms according to your needs.
๐ง So, are you still wondering what to choose?
Understanding the difference between CEX and DEX allows you to be more strategic in your choices. The ideal? To learn gradually, choose the ideal platform for your needs and skill level, and keep in mind that your security also depends on your vigilance.
There is no universal "best" platform.
๐ If you are a beginner or want to move quickly, a CEX can offer you more comfort.
๐ If you want to maintain complete control over your assets, a DEX may suit you better.
But above all, educate yourself and remain cautious.
๐จ Note!!
Always use reliable platforms with high liquidity to limit risks related to market volatility:
๐ Start on Binance here
