#CEXvsDEX101 – Here's a quick breakdown of Centralized Exchanges (CEX) vs. Decentralized Exchanges (DEX):
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🔐 Centralized Exchange (CEX)
Examples: Binance, Coinbase, Kraken
Pros:
Easy to use & beginner-friendly
High liquidity & fast transactions
Customer support available
Advanced trading features (margin, futures, etc.)
Cons:
Requires KYC (Know Your Customer)
You're trusting a third party with your funds
Vulnerable to hacks and government regulation
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🌐 Decentralized Exchange (DEX)
Examples: Uniswap, PancakeSwap, dYdX
Pros:
You control your private keys (non-custodial)
Typically no KYC required
Open-source and permissionless
Greater privacy and censorship resistance
Cons:
Can have lower liquidity and slower transactions
More complex to use for beginners
Limited fiat on-ramps
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🚀 Summary
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