#CEXvsDEX101
๐ #CEXvsDEX101 โ Know Your Exchange!
Before you trade crypto, understand where you're trading. Letโs break down the key differences between CEX (Centralized Exchange) and DEX (Decentralized Exchange). ๐
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๐ฆ CEX โ Centralized Exchange
Examples: Binance, Coinbase, Kraken
โ๏ธ Pros:
High liquidity
Fast execution
Easy for beginners
โ ๏ธ Cons:
Controlled by third parties
Requires KYC
Risk of hacks or censorship
๐ง Think of it like a bank โ convenient but someone else holds your keys.
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๐ DEX โ Decentralized Exchange
Examples: Uniswap, PancakeSwap, dYdX
โ๏ธ Pros:
You control your funds
No KYC (usually)
Open & permissionless
โ ๏ธ Cons:
Lower liquidity
Slower, sometimes costlier transactions
More complex UI
๐ "Not your keys, not your coins" โ DEX puts the power in your hands.
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๐ก Final Thought:
Use CEX for ease, DEX for freedom. Many smart traders use both, depending on the goal.
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โค๏ธ Like if it helped
๐ฌ Comment: Are you Team CEX or Team DEX?
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