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What is the difference between a DEX and a CEX?

By the FOMOEgg CTO team · Updated October 16, 2026 · Lesson 28 of 48
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The FOMOEgg egg in the studio, illustrating: What is the difference between a DEX and a CEX?
Short answer

A CEX is a company order book; a DEX swaps from pools using your own wallet. DEXs often have thinner liquidity and gas costs.

How to check it yourself

  1. Check whether the app uses your own wallet (DEX) or an account with a login (CEX).
  2. On a DEX, look at the pool's liquidity. On a CEX, look at the order book depth.
  3. Note who holds the funds: on a CEX the company does, on a DEX your wallet does.

Sources

  • blofin.comhttps://blofin.com/academy/education/trading/dex-and-cex
  • moonpay.comhttps://www.moonpay.com/learn/web3/vocabulary-for-beginners

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