#CEXvsDEX101 Absolutely! Here's a clear and simple explanation of CEX vs DEX to go with the image:
🏛 CEX (Centralized Exchange)
✅ How it Works:
A centralized exchange is run by a company. It acts as a middleman between buyers and sellers. You deposit your funds into their platform and they manage your trades.
🔐 Features:
User-friendly and beginner-friendly
Fast trades and high liquidity
Customer support available
Requires KYC/ID verification
Funds are held by the exchange (you don’t control your private keys)
📌 Examples:
Binance
Coinbase
Kraken
Bybit
🌐 DEX (Decentralized Exchange)
✅ How it Works:
A decentralized exchange operates without a central authority. You trade directly from your own crypto wallet using smart contracts — no middleman involved.
🔐 Features:
No registration or KYC needed
You control your own private keys
Usually lower fees (but higher gas costs)
Trades are peer-to-peer and slower
Less liquidity than CEXs
📌 Examples:
Uniswap
