#CEXvsDEX101 Centralized exchanges (CEX) and decentralized exchanges (DEX) are two fundamentally different approaches to cryptocurrency trading. CEX, such as Binance or Coinbase, offer high liquidity, user-friendly interfaces, and support. However, they require identity verification and store users' funds in their wallets. DEX, such as Uniswap or PancakeSwap, operate on the blockchain, allowing users to trade directly from their wallets and providing a high level of privacy. However, DEX have higher fees during network congestion and limited functionality for newcomers. The choice between CEX and DEX depends on your priorities: convenience or decentralization?