#CEXvsDEX101 ✅ Centralized Exchanges (CEX)
Examples: Binance, Coinbase, Kraken
How it works: Operated by companies that act as intermediaries
Pros:
User-friendly interface
Higher liquidity
Faster trades and customer support
Cons:
Requires KYC (identity verification)
You don’t hold your private keys
More vulnerable to hacks
✅ Decentralized Exchanges (DEX)
Examples: Uniswap, PancakeSwap, dYdX
How it works: Peer-to-peer trading with smart contracts, no central authority
Pros:
No KYC required
You control your private keys
Censorship-resistant
Cons:
Can be harder for beginners
Lower liquidity
Slower and costlier on certain networks
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🔑 Quick Tip:
> “Not your keys, not your crypto.”
If you want full control over your assets, DEX is the way.
If you prefer convenience and support, CEX might be your pick.
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