#CEXvsDEX101

CEX (Centralized Exchange)

VS

DEX (Decentralized Exchange):

CEX (like Binance.com) is a centralized exchange where Binance holds your funds. It is easy to use, has high liquidity, fast trades, and customer support. But you have to undergo KYC and it is more exposed to regulations and hacks.

DEX (like PancakeSwap on BSC) is decentralized, which means you control your own wallet and keys. It offers more privacy and does not require KYC, but has less technical support, or none, lower control, slower speeds, and may have lower liquidity and higher risks. Watch out for your $BTC a $ETH .