Why do people use DEX instead of CEX?

A DEX is free from government regulations, financial requirements, and monitoring. Traders face each other on a peer-to-peer basis, and there is no intermediary to confirm transactions. The absence of intermediaries lowers transaction costs and increases the speed of executing trades. Besides, users have total access to their private keys and, thus, they self-custody their assets. This reduces the chances of hacking.

Anonymity is another reason why people prefer DEXs to CEXs. DEXs do not have log in procedures, no KYC, and no requests for personal documents. Again, DEXs offer a broader basket of tokens that you rarely find in CEXs.