The difference between a CEX (Centralized Exchange) and a DEX (Decentralized Exchange) is key in the crypto world. In a CEX, such as Binance or Kraken, an entity controls the platform, which facilitates use but carries risks such as hacks or freezing of funds. In contrast, a DEX like Uniswap or PancakeSwap allows trading without intermediaries, increasing privacy and control over assets. However, DEXs usually have lower liquidity and can be more complex for beginners. Both have pros and cons, and knowing which to use depends on your level of experience and your priorities in security and ease of use.
