Josemendez
Verified member
Most of us can be hearing about DEX and CEX ,but do not know what they really mean.
DEX is an acronym for decentralized exchange , while CEX is centralised exchange.
The difference between the two exchange method is as follows ;
In DEX , The user have fully control over his funds and account ,and is characterized with what is known as private keys , here hacking is not likely because of it's decentralized nature ,while in CEX , the user has limit control over his account, he can only have his email and login details as his security measure ,and when the exchange site is hacked , his funds can be stolen without his consent.
In DEX ,third party is eliminated through P2P transaction thus making the transaction easier and safer ,while in CEX there is third party transaction which provides the liquidity .
The fees in CEX are very high ,while in DEx , the fees are quite very low .
DEX is an acronym for decentralized exchange , while CEX is centralised exchange.
The difference between the two exchange method is as follows ;
In DEX , The user have fully control over his funds and account ,and is characterized with what is known as private keys , here hacking is not likely because of it's decentralized nature ,while in CEX , the user has limit control over his account, he can only have his email and login details as his security measure ,and when the exchange site is hacked , his funds can be stolen without his consent.
In DEX ,third party is eliminated through P2P transaction thus making the transaction easier and safer ,while in CEX there is third party transaction which provides the liquidity .
The fees in CEX are very high ,while in DEx , the fees are quite very low .
