DEX/CEX

A DEX is a decentralized exchange and a CEX is a centralized exchange and you can buy and sell cryptocurrencies and tokens on both.

Just like the difference between DeFi and CeFi , a DEX is autonomous and run by algorithms and smart contracts, while a CEX is run by a company with human management.

Big name examples of DEXs include Uniswap and Kyber, while well-known CEXs include Coinbase and Binance.

CEXs can be cheaper than DEXs, but users don’t get any say in how they are run as they do with some DEXs.