#CEXvsDEX101
The difference between a centralized exchange (CEX) and a decentralized exchange (DEX) lies mainly in how transactions are managed.
📌 Centralized Exchange (CEX)
Examples: Binance, KuCoin, Coinbase.
Pros:
Easier to use, ideal for beginners.
High liquidity — buying and selling is faster.
Customer support is available.
Allows the use of bank cards, transfers, etc.
Cons:
You depend on the platform — if it's hacked or blocks your account, you may lose access to your funds.
Requires KYC (document verification).
You don’t have full control over your crypto (it's not stored in your personal wallet).