#CEXvsDEX101 Centralized exchanges (CEX) and decentralized exchanges (DEX) are platforms for trading cryptocurrencies, but with key differences. CEXs, like Binance or Coinbase, are managed by a central entity that facilitates transactions, offers liquidity, and complies with regulations. However, they require KYC and store user funds, which can be a risk. DEXs, like Uniswap or PancakeSwap, operate without intermediaries using smart contracts on blockchains like Ethereum. This ensures greater privacy and control over funds, but may have lower liquidity and a more complex interface. The choice between CEX and DEX depends on the needs: security and ease vs. decentralization and autonomy. Both models are essential in the crypto ecosystem.