DeFi Fundamentals · question
Q.04 of 28
How do DEXs differ from centralized exchanges (CEXs)?
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DEXs (Decentralized Exchanges):
- Non-custodial: Users control private keys
- Smart contract-based matching
- Typically higher fees due to gas costs
- Limited trading pairs
- No KYC requirements
- Resistant to censorship
CEXs (Centralized Exchanges):
- Custodial: Exchange controls user funds
- Order book matching engines
- Lower trading fees
- Extensive trading pairs and features
- KYC/AML compliance required
- Subject to regulatory oversight and potential shutdowns
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