Centralized vs Decentralized Exchanges
Definition:
Centralized Exchange (CEX): A platform managed by a company that handles your crypto transactions.
Decentralized Exchange (DEX): A platform where you trade directly with others, without a middleman.
Example:
CEX: Binance, Coinbase
DEX: Uniswap, PancakeSwap
Why it matters:
Choosing the right exchange affects security, control, and fees. CEX is easier for beginners, DEX gives you full control over your crypto.
3 Tips:
1. Security first: Use CEX for convenience, DEX for more control.
2. Check fees: CEX may charge withdrawal fees; DEX may have network fees.
3. Start small: Try both types to understand which fits your style.
