🖥Centralized Exchange (CEX)

It is a cryptocurrency trading platform that operates like a traditional stock exchange or bank.

​It is managed by a single company (like Binance or Coinbase) that acts as a trusted middleman between buyers and sellers.
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➖Custodian: The Exchange holds your private keys and assets.(They're serving as custodial wallets)

➖Trade Execution: Handled by the company's internal servers.

➖Privacy: Requires KYC (Know Your Customer) and personal data.

➖Primary Risk: The exchange being hacked, collapsing, or freezing your funds.


🖥Decentralized Exchange (DEX)

it is a peer-to-peer marketplace where you can trade cryptocurrencies directly with others, without a bank, broker, or a large central company (like Binance or Coinbase) or middleman to hold your funds.

➖Custodian: You hold your private keys (non-custodial).

➖Trade Execution: Handled automatically by Smart Contracts.

➖Privacy: Requires only your crypto wallet address.

➖Primary Risk: Smart contract bugs or user error (like signing a bad approval).

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