In the cryptocurrency market, there are two types of exchanges: centralized (CEX) and decentralized (DEX). Centralized exchanges, such as Binance, control assets and require identity verification (KYC), providing a high level of security and excellent liquidity. Decentralized exchanges, such as Uniswap, allow trading directly from your wallet without an intermediary, ensuring complete privacy and control over your funds. The key difference lies in who controls your funds. Do you prefer security and liquidity or privacy and self-control? An example of a common trading pair for both types is BTC/USDT. Choose the platform that best suits your goals and trading style.