#CEXvsDEX101 Before you trade crypto, understand where you're trading. Letâs break down the key differences between CEX (Centralized Exchange) and DEX (Decentralized Exchange). đ
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đŠ CEX â Centralized Exchange
Examples: Binance, Coinbase, Kraken
âïž Pros:
High liquidity
Fast execution
Easy for beginners
â ïž Cons:
Controlled by third parties
Requires KYC
Risk of hacks or censorship
đ§ Think of it like a bank â convenient but someone else holds your keys.
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đ DEX â Decentralized Exchange
Examples: Uniswap, PancakeSwap, dYdX
âïž Pros:
You control your funds
No KYC (usually)
Open & permissionless
â ïž Cons:
Lower liquidity
Slower, sometimes costlier transactions
More complex UI
đ "Not your keys, not your coins" â DEX puts the power in your hands.
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đĄ Final Thought:
Use CEX for ease, DEX for freedom. Many smart traders use both, depending on the goal.
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đŹ Comment: Are you Team CEX or Team DEX?
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