##CEXvsDEX101

Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs) are platforms for trading cryptocurrencies. CEXs, like Binance or binance wallet, are operated by companies that facilitate trades, provide liquidity, and manage user accounts. They offer user-friendly interfaces and high-speed transactions but require users to trust the platform with their funds. In contrast, DEXs, such as Uniswap or PancakeSwap, allow peer-to-peer trading using smart contracts. They enhance privacy and control, as users retain custody of their assets. However, DEXs may suffer from lower liquidity, slower execution, and complex interfaces. Both have pros and cons depending on user needs, experience, and security preferences.