#CEXvsDEX101 ##Like a traditional brokerage: Think Binance, Coinbase, Kraken. A company manages the platform, holding user funds and facilitating trades.

Pros: User-friendly interfaces, high liquidity (easy to buy/sell quickly), often offer advanced trading features (margin, futures), and generally have better customer support.

Cons: Require KYC (Know Your Customer) verification, meaning less privacy. Your funds are held by the exchange, making them a target for hackers. They can also freeze accounts or restrict withdrawals.