Decentralized Exchanges (DEX): like Uniswap and PancakeSwap, allow you to trade directly from your own wallet, giving you complete control over your assets. There is no central authority, which enhances privacy and reduces hacking risks. However, they may be less user-friendly, provide variable liquidity, and typically have higher gas fees.

The choice between CEX and DEX depends on your priorities: convenience and security in CEX, or sovereignty and decentralization in DEX.