#CEXvsDEX101

Pros and Cons of CEX (Centralized Exchanges, e.g., Binance, Bybit, OKX)

✅ Pros:

- High Liquidity – Large trading volumes, narrow spreads, fast transactions.

- User-friendly Interface – Suitable for beginners, features market orders, stop losses, futures.

- Fiat Payments – You can buy crypto with rubles/dollars via cards or P2P.

- Customer Support – If something goes wrong, you can contact support.

❌ Cons:

- Risk of Hacking or Bankruptcy – The history of Mt. Gox and FTX shows that CEX are not always safe.

- KYC (Verification) – Personal data must be provided, which not everyone likes.

Pros and Cons of DEX (Decentralized Exchanges, e.g., Uniswap, PancakeSwap, dYdX)

✅ Pros:

- Anonymity – No KYC required, you can trade without a passport.

- Control over Funds – Crypto is stored in your wallet (MetaMask, etc.), not on the exchange.

- Access to New Tokens – Many projects are launched on DEX first.

- Resilience to Censorship – No one can block your account.

❌ Cons:

- High Fees.

- Complexity for Beginners – You need to understand wallets, slippage, MEV attacks.

- Lower Liquidity – Large trades may lack sufficient volume.