I always thought your money must in your control. I trade in crypto currency but ,most of the time i use decentralised exchange.besides centralised exchange, I prefer decentralise exchange or wallet like binancedex,trust wallet, idex exchange because I have control over my fund.
The four core functions of any exchange our Capital deposits order books order matching and that's an exchange in order to create a fully decentralized exchange or decks. Each of these functions must be decentralized typically on crypto currency exchanges. The acid exchange part is decentralized by default as the assets are cryptocurrencies the other three functions and especially deposits are usually centralized due to know your customer and anti-money laundering regulations exchanges are required to seek users identities for any Capital deposits.
This is stored on aMy server that holds your personal information and exchange with any form of centralized databases or servers is allowing you to access the crypto currency Market. Well, the decentralized exchange gives you access a decentralized exchange does not and cannot shut anyone out the most obvious benefit of add X is the same as with any decentralized application the censorship resistance any application built on a decentralized blockchain can't be shut down unless the entire chain is shut down.
This is important as many countries have banned or heavily restricted cryptocurrency use in order for citizens of these countries to be able to Is the ecosystem they need applications that their government can shut down. If your access point to the crypto world is a centralized exchange. Then your ability to access cryptocurrency is no more Freer independent than your ability to access regular currency. A government could still seize your assets shut down.
Your training will come after you personally decentralized exchanges mitigate much of this risk decentralized exchanges. Also require the user to be 100% responsible and in control of their funds for some people this might be a negative not everyone wants to be in charge of the safety of their assets, but by
During the responsibility on your own your funds are as secure. As you want them to be several million dollars of cryptocurrency have been stolen from users when the centralized exchange that they used was hacked by taking your funds into your own hands and using a decks. Your currency is your responsibility and a corporation security vulnerabilities won't affect you.
Of course, the decks is code can still have vulnerabilities or be compromised so you can still use them with caution try and educate yourself as best as you can about the platform that you're using and take extra steps to secure your own assets as best as you can finally Dex is Can facilitate faster and cheaper transactions as code does all of the validation there's no middleman paying employees to verify every trade and take huge cuts off of every transaction. The code does its work and you get the best value as well as the most control in your trading. It's not an easy undertaking to decentralize every aspect of an exchange market place and while some of nail down the basic functionalities of swapping coins with other users, the more advanced functionalities are by and large not present someone used to robust and complex centralized stock trading platforms would be woefully disappointed moving to
Decentralized cryptocurrency exchange. So in that aspect Dex is still have some catching up to do with centralized exchanges that can generally provide more robust features and a better user experience dex's are no doubt an important part of the future of cryptocurrency and are already a major help for people in restricted countries that want to access the blockchain ecosystem with more growth and development time dex's will be more advanced and become a better and better option against traditional exchanges.
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Blog by Tushar
Follow on Twitter- @tushar_desale
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