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Oil-based paints use oil as a binder, while latex paints use water. Oil-based paints are more durable and provide a smoother finish, but they take longer to dry and have a strong odor. Latex paints dry faster, are easier to clean up, and have less odor. Oil-based paints are best for high-traffic areas or surfaces that need extra protection, while latex paints are suitable for most interior surfaces and are more environmentally friendly.

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