Beginner
CEX vs DEX vs wallet apps — Hands-on lab
Page 4 of 6 — Section 4 of 6
User Beginner
4/6 — CEX vs DEX vs wallet apps — Hands-on lab
Do two mini-flows back-to-back so you can feel the difference. Use tiny amounts or testnet where possible. Say the checks aloud: correct URL/app, real network, addresses match, fee looks normal.
Steps
- CEX flow (conceptual if:You don’t want to deposit) note where you would deposit, trade, and withdraw. Identify the fees: trading fee and withdrawal fee. Screenshot the fee table.
- DEX flow (Sepolia testnet):Connect MetaMask (or Rabby/Coinbase Wallet), set a tiny swap, and review the quote. Note network fee, slippage, and minimum received.
- Run the testnet swap.:Open it on the explorer and read the fee and token movement.
- Write one safety line:Per path CEX = “They hold keys; risk of freeze/withdrawal delay.” DEX = “I hold keys; risk if I sign a bad contract or wrong chain.”