📢🔍 CEX or DEX: Which cryptocurrency exchange to choose? 🚀🌕

🔹 The centralized CEX ( exchanges are controlled by private companies where we have to deposit our money or cryptos into accounts that they manage. And they certainly manage it as they please!

🔸 For example: the big dinosaurs of the sector, those that I will not name but that we all know.

🔹 DEX ) decentralized exchanges ( operate with smart contracts on the blockchain, and we operate directly from our wallet. Finally, we are truly owners!

🔸 For example: Uniswap, 1inch, PancakeSwap, GMX, dYdX

👍 Advantages of CEX:

• They accept cash deposits ) to monitor us better? (
• Low fees, fast transactions
• Multiple types of orders
• They allow trading with coins from different blockchains

👎 Disadvantages of CEX:

• We must trust them ) and we already know how the FTX situation ended...(
• Opaque trading system
• They require your personal data )¡hello KYC!(

👍 Advantages of DEX:

• Total control of your funds )¡not your keys, not your coins!(
• You don't need to provide your personal information
• Transparent trading system

👎 Disadvantages of DEX:

• They do not accept cash
• High commissions, slow operations
• Less convenience, you must be responsible for your wallet

💡 My opinion: CEXs are like traditional banks - convenient but controlling. DEXs are pure freedom but with responsibility. Newbie? Maybe a CEX, but don't stay there forever. Decentralization is the future. What do you think? Share your experience!