#CEXvsDEX101 In the crypto ecosystem, there are two types of exchanges: centralized (CEX) and decentralized (DEX). CEXs, such as Binance or Coinbase, operate with a central authority that facilitates transactions. They are known for their liquidity, speed, and support, but require KYC and hold the user's funds. In contrast, DEXs allow trading without intermediaries or registrations, using smart contracts. Popular examples include Uniswap or PancakeSwap. While they offer greater privacy and control, they can be more complex to use and may have lower liquidity. Choosing between CEX and DEX depends on your priorities: convenience and support vs decentralization and control.