CEX vs. DEX
In short
CEX = centralized exchange with account, custody and KYC; DEX = smart-contract trading straight from your wallet. Convenience versus self-responsibility.
CEX pros: fiat on-ramp, liquidity, support. DEX pros: self-custody, no account, any token. Many use both: CEX as ramp, DEX for on-chain — with each risk profile in mind.
What is the right start for beginners?
A large regulated CEX — while practicing your own wallet with tiny amounts in parallel.
Information, not investment advice. More of this? The newsletter.