#CEXvsDEX101
๐ #CEXvsDEX101 | Learn about the difference between trading on centralized and decentralized platforms ๐ก
In the crypto world, there are two main ways to trade digital assets:
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๐ข Centralized Platforms (CEX)
โ๏ธ Simplified user experience
โ๏ธ Fast execution of trades
โ๏ธ Advanced tools for analysis and trading
โ ๏ธ Requires account creation and identity verification (KYC)
โ ๏ธ Assets are managed through the platform's infrastructure
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๐ Decentralized Platforms (DEX)
โ๏ธ Trade directly from your wallet
โ๏ธ No need to create an account
โ๏ธ Higher privacy for the user
โ ๏ธ Requires a good understanding of how wallets and smart contracts work
โ ๏ธ Liquidity and speed may vary depending on the protocol
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๐ Remember: Your choice depends on your level of experience, your trading goals, and how much you rely on security and support tools.