#CEXvsDEX101 ๐๏ธ #CEXvsDEX101: Which Side Are You On?
CEX or DEX? Both have their pros โ but only one fits your style. Letโs break it down ๐
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1๏ธโฃ Centralized Exchanges (CEX) ๐
Examples: Binance, Coinbase, OKX
โ Pros:
High liquidity & fast execution โก
Easy-to-use UI ๐ฅ๏ธ
Fiat support ๐ต
Customer support available ๐ฉโ๐ผ
โ Cons:
Requires KYC ๐
You donโt fully control your assets ๐งณ
Can be subject to downtime or restrictions ๐
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2๏ธโฃ Decentralized Exchanges (DEX) ๐
Examples: Uniswap, PancakeSwap, dYdX
โ Pros:
You hold your own keys ๐
No KYC or registration ๐ซ
Permissionless & borderless ๐
Access to new/early tokens ๐
โ Cons:
Slower transactions โณ
Higher risk of impermanent loss or scam tokens โ ๏ธ
No formal support if you mess up ๐ โโ๏ธ
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Which one do YOU prefer for trading?
Comment โTeam CEXโ or โTeam DEXโ โ and tell us why! ๐ง ๐
