Someone asked: What’s the difference between a CEX and a DEX?
I usually answer like this: PancakeSwap is one of the commonly used DEXs on BNB Smart Chain, and $CAKE is its platform token. The most fundamental difference is who holds the assets: on a CEX, the platform holds them for you; on a DEX, users hold their own private keys.
$BNB 743.17 (+1.06%)
What’s your take on this? Join the discussion in the comments.
I usually answer like this: PancakeSwap is one of the commonly used DEXs on BNB Smart Chain, and $CAKE is its platform token. The most fundamental difference is who holds the assets: on a CEX, the platform holds them for you; on a DEX, users hold their own private keys.
$BNB 743.17 (+1.06%)
What’s your take on this? Join the discussion in the comments.