#CEXvsDEX101

CEX (Centralized Exchange):

A centralized platform managed by a company, such as Binance or Coinbase. User-friendly, offers high liquidity, but you rely on them to hold your funds (non-private wallet).

DEX (Decentralized Exchange):

A decentralized platform that operates without a central authority, such as Uniswap or PancakeSwap. You always own your funds (private wallet), but it has lower liquidity and can sometimes be complex for beginners.