Having lost money on four exchanges that were hacked or scammed, I really need a decentralized alternative, so thanks for explaining.
This way they are now on BTS blockchain but the gateway that let you deposit them ie @blocktrades hold collateral in real wallet.
How is trusting a gateway different from trusting a centralized exchange?
Gateway has coins for a second and if one dies, other one can come. Yet your assets on exchange are safe and have same value as they had.
Also you dont have to ever get out of DEX with non-chain coins. You can just go out with BTS to zillions of exchanges.
EDIT: Actually BT used to help OL, but now OL is their own gateway. So had to edit that part.