Centralized exchanges (CEX) and decentralized exchanges (DEX) offer very different experiences for users. CEXs like Binance or Bybit provide high liquidity, intuitive interfaces, and customer support, but require identity verification and custody of your funds. In contrast, DEXs like Uniswap or PancakeSwap allow trading without intermediaries, giving users total control over their assets, but with less liquidity and greater complexity. Both models have advantages and risks: security, privacy, speed, and regulations are factors that must be evaluated before deciding where to trade. Choosing between a CEX and a DEX depends on your priorities as a trader.
