If you don't know about them, I'll give you a brief overview. ✔️👇
There are two types of platforms, each one works differently.
● DEX platforms
● CEX Platforms
◇ What is the difference between them⁉️
🔅Centralized exchanges (CEX)
◇ A centralized platform that acts as an intermediary between buyers and sellers, ensuring fast and convenient trading, much like a bank.
◇ When using CEX, your assets (coins) are stored on the exchange 《platform》.
Example Binance platform is considered within CEX
🔅Decentralized exchanges (DEX)
◇ A decentralized platform that operates without an intermediary, where trades are executed using smart contracts 👌 .
◇ When using a DEX, your assets stay with you in your wallet.
like :
PancakeSwap - Trust - Phantom…ets
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