DEX vs CEX

[Suba]

DecenDecentralized exchange or DEX is a crypto exchange that brings together buyers and sellers, so DEX is like a market that brings together many buyers and sellers on a P2P (peer to peer) basis. Examples of DEX crypt exchanges are Sushiwap, Uniswap, dYdXCurve Finance etc.

Centralized Exchange or CEX which means that this crypto exchange is regulated by a center that acts as a third party that stores crypto/users' funds, and determines transaction fees. Examples of CEX are Binance, Coinbase Exchange, Bybit, Kraken, KuCoin etc.

 

[Chibson]

Yeah, decentralized exchange just like the name suggests, decentralised are not regulated. that means you can carry out any kind of transaction without going through kyc. But centralised exchanges requires kyc before you make some transactions.

 

[nomad]

Well, I have never used DEX, I have only used CEX. I use CEX for a couple of reasons despite CEX being very risky compared to DEX. I use CEX because we can do a lot of things from staking to earning rewards.

 

[Chibson]

It is also possible for you to stake on decentralized exchanges. But the truth is that cryptocurrency generally is very risky whether centralised or decentralized.

 

[riberet19]

It is also possible for you to stake on decentralized exchanges. But the truth is that cryptocurrency generally is very risky whether centralised or decentralized.

In general I do not like to stake in the exchanges I like to do it in decentralized wallet where I have the possession of my tokens in addition the staking profits in the dex can be diminished by the high commissions that they usually have