#CEXvsDEX101 Centralized exchanges (CEXs) and decentralized exchanges (DEXs) are platforms for trading cryptocurrencies. CEXs, like Binance or Coinbase, are operated by companies that manage user accounts and hold funds, offering ease of use, high liquidity, and customer support. However, they require users to trust the platform with their assets and personal information. DEXs, such as Uniswap or PancakeSwap, operate without intermediaries, allowing peer-to-peer trading through smart contracts. They offer greater privacy and control over funds but may have lower liquidity, slower transactions, and a steeper learning curve. Both serve different needs depending on users’ priorities for security, control, and convenience.