*CEX (Centralized Exchange)*:
1. *Third-party management*: A central authority manages transactions.
2. *User-friendly interface*: Easy to navigate for beginners.
3. *Higher liquidity*: More traders and assets.
*DEX (Decentralized Exchange)*:
1. *Peer-to-peer transactions*: No central authority.
2. *Increased security*: Users control assets.
3. *Greater autonomy*: Decentralized governance.
*Key differences:*
1. *Control*: CEX - centralized, DEX - decentralized.
2. *Security*: DEX prioritizes user asset control.
3. *Liquidity*: CEX often has higher liquidity.
