#Centralizedand decentralized exchanges] I made my first pot of gold in CEX, and learned freedom and risk in DEX
When I first entered the cryptocurrency circle, I chose Binance as my first CEX because it has a simple interface, high security, customer service, and supports fiat currency deposits.
📌 Advantages of centralized exchanges (CEX):
✔ High liquidity
✔ Fast transaction speed
✔ User-friendly experience
✔ Risk control, customer service, hot wallet and cold wallet layered protection
But later I started to get involved in the DeFi field, and then I got to know DEX (decentralized exchanges) such as Uniswap and PancakeSwap.
📌 Advantages of DEX:
✔ Fully self-controlled assets, no need for custody
✔ Open and no KYC required, free entry and exit
✔ Free access to new projects and new currencies
✔ Participate in LP mining and earn handling fees
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🔁 My own habit is this:
✅ Large assets and stable operations stay in CEX (low risk + fast speed)
✅ Small investments, participation in new currencies or DeFi ecosystem, use DEX (flexible and free)
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🎯 Newbie suggestions:
1. Start with CEX to get familiar with the operation
2. Be sure to learn how to use a wallet (like MetaMask) before entering DEX
3. Don't be tempted by high APY, always remember: DEX is free, but you bear the risk yourself!
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💬 Leave a message to interact: Where did you fall when you first used DEX? Have you ever forgotten to back up your mnemonic?
