The main differences between centralized exchanges and decentralized exchanges are as follows: centralized exchanges are managed and operated by a central institution, offering high trading efficiency, good asset liquidity, and a great user experience; decentralized exchanges, on the other hand, are based on blockchain technology, have no central institution, emphasize user control over assets, and ensure transparent and secure transactions.

The advantages of centralized exchanges are convenience and a wide range of features, while the disadvantages include trust risks and the potential for asset theft. The advantages of decentralized exchanges are security and transparency, protecting user privacy; however, the disadvantages include slower transaction speeds, relatively poor liquidity, and higher barriers to entry.

I think most people would prefer decentralized exchanges 🥹🥹🥹