#CEXvsDEX101 Centralized vs Decentralized Exchanges – What’s the Difference?

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When it comes to trading crypto, you’ve probably heard about CEXs and DEXs. But what’s the real difference?

Centralized Exchange (CEX):

> Run by a company (e.g., Binance, Coinbase)

> Holds your funds (you don’t own private keys)

> Fast, supports fiat, requires KYC

> Easier for beginners

> Can be hacked – trust is key

Decentralized Exchange (DEX):

>No middleman – trade wallet-to-wallet (e.g., Uniswap, PancakeSwap)

> You keep your keys and funds

> No KYC, but no fiat either

> Lower risk of exchange hacks

> Can be harder to use & slower