### 🏦 **CEX (Centralized Exchange)** vs 🌐 **DEX (Decentralized Exchange)**

| Feature | **CEX** (e.g., Binance, Coinbase) | **DEX** (e.g., Uniswap, PancakeSwap) |

| -------------------- | ------------------------------------------- | -------------------------------------------------------- |

| **Control** | Controlled by a company | User-controlled, no central authority |

| **Custody** | Platform holds your crypto (custodial) | You hold your crypto (non-custodial) |

| **Ease of Use** | Beginner-friendly, simple interface | Requires more crypto knowledge |

| **Speed** | Fast transactions via centralized servers | Can be slower due to blockchain processing |

| **KYC/Verification** | Often required (ID, documents) | Usually not required |

| **Trading Pairs** | Wide variety with high liquidity | Depends on protocol and liquidity pools |

| **Security Risk** | Vulnerable to hacks & platform shutdown | Less prone to mass hacks, but smart contract risk exists |

| **Fees** | May have higher trading and withdrawal fees | Usually lower, but includes gas fees |

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### 🧠 **In short:**

* **Use CEX** if you want ease, speed, and support.

* **Use DEX** if you want privacy, control, and decentralization.