#CEXvsDEX101 : Where Should You Trade Crypto? ⚖️
Choosing where to trade crypto boils down to two main types: Centralized Exchanges (CEX) and Decentralized Exchanges (DEX).
CEX (Centralized Exchange): Think Binance or Coinbase.
Pros: User-friendly, high liquidity, fiat support, customer service.
Cons: They hold your crypto (not your keys!), KYC required, central target for hackers.
Best for: Beginners, large trades, buying with regular money.
DEX (Decentralized Exchange): Think Uniswap or PancakeSwap.
Pros: You control your keys, more privacy (often no KYC), wider token access.
Cons: Can be less user-friendly, higher network fees, no customer support.
Best for: Experienced users, privacy, new/niche tokens.
Your Takeaway: Start with a CEX to learn the ropes. As you get comfy, a DEX offers more control. Many traders use both! Which fits your style? 👇