#CEXvxDEX101
cex and dex refer to types of cryptocurrency exchanges
stands for centralized exchange examples include binance coinbase and kraken
they are run by companies and require users to deposit funds into the platform
trading happens off chain which makes it faster and usually cheaper
users often need to go through kyc which means sharing personal information
cex platforms are more user friendly but carry higher risk if the exchange gets hacked
stands for decentralized exchange examples include uniswap pancakeswap and sushiswap
they run on smart contracts and let users trade directly from their wallets
there is no central authority and usually no kyc
you control your own funds which adds security but also responsibility
dex platforms can have slower trades higher fees and less support
cex is better for beginners or those needing advanced features
dex is better for privacy and control over your own assets
