CEX and DEX are two different types of cryptocurrency exchanges:
CEX (Centralized Exchange) is a traditional cryptocurrency exchange that is owned and operated by a centralized entity. These exchanges are centralized in the sense that they are controlled by a single authority, which manages the platform and handles trading activities. Users of CEX must register and create an account, and then they can deposit, trade, and withdraw cryptocurrencies using the platform. CEX usually charges trading fees for their services.
DEX (Decentralized Exchange) is a type of cryptocurrency exchange that operates on a decentralized network, without the need for a central authority to manage the platform. DEX is built on top of blockchain technology and allows users to trade cryptocurrencies directly with each other using smart contracts. Users do not need to create an account or provide personal information, as they can trade directly from their own wallets. DEX fees are generally lower than CEX fees, but the liquidity and trading volume may be lower as well.
In summary, CEX and DEX are two different types of cryptocurrency exchanges that offer different benefits and drawbacks depending on the user's preferences and needs. CEX is centralized, requires registration and KYC, and has higher fees, while DEX is decentralized, does not require registration, and has lower fees but lower liquidity.
