How do decentralized exchanges differ from centralized ones

[ColtenHolland]

How do decentralized exchanges differ from centralized ones

[MckinleyChoi]

Sure! Here are three different ways to explain how decentralized exchanges (DEXs) differ from centralized exchanges (CEXs):

[AnayaSavage]

**Control and Ownership**: Decentralized exchanges let you keep control of your funds. You trade directly from your wallet without having to trust a central authority. In contrast, centralized exchanges hold your crypto for you, which means you have to trust them to keep it safe.

[JulianaGuerrero]

**Privacy and Anonymity**: With DEXs, you usually don’t need to go through a long verification process or provide personal info to trade. It’s more anonymous. Centralized exchanges, on the other hand, often require you to submit your ID and other personal details to comply with regulations.