#CEXvsDEX101 **CEX** (Centralized Exchange):

- Controlled by a company

- Stores user funds

- Example: Binance, Coinbase

**DEX** (Decentralized Exchange):

- Controlled by open source \n- Users hold their own funds

- Example: Uniswap, PancakeSwap

CEX offers liquidity and speed, DEX offers security and autonomy. CEX requires verification, DEX does not. XRP is listed on both.