In the early days of crypto, you had to use Centralized Exchanges (CEXs) like Coinbase or Binance. Today, Decentralized Exchanges (DEXs) like Uniswap and PancakeSwap are taking over.
The main difference is custody. On a CEX, the exchange holds your private keys (and your money). On a DEX, you trade directly from your own wallet. This “peer-to-peer” model means there is no central authority that can freeze your account or block your transactions. As long as you have an internet connection and a wallet, you have access to a global marketplace, making financial inclusion a reality for millions who are “unbanked.”