#中心化与去中心化交易所 Core Differences:

1. Control

- CEX: Exchange custodian assets (Risk: running away/freezing)

- DEX: Users hold private keys (Assets completely controlled)

2. Mechanism

- CEX: Order book matching, requires KYC real-name verification, fiat currency deposit and withdrawal

- DEX: AMM liquidity pool trading, anonymous operation, only supports cryptocurrencies

3. Applicable Scenarios

- Large amounts/beginners → CEX; Privacy/anti-censorship → DEX

> Key Choice: Trust third parties (CEX) vs Trust code (DEX).