#CEXvsDEX101

CEX (Centralized Exchange)

VS

DEX (Decentralized Exchange):

CEX (like Binance.com) is a centralized exchange where Binance holds your funds. It is user-friendly, has high liquidity, fast transactions, and customer support. But you need to complete KYC and it is more exposed to regulations and hacks.

DEX (like PancakeSwap on BSC) is decentralized, meaning 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, and may have lower liquidity and higher risks. Watch out for your $BTC and $ETH.