Cryptocurrency Q&A
What is a Dex exchange & how does it work?
What is a Dex exchange & how does it work?
Margherita
Sat Sep 07 2024
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6 answers
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Could you please elaborate on what a decentralized exchange, or Dex, is and how it operates? I'm particularly interested in understanding the differences between a Dex and a traditional centralized exchange, as well as the benefits and drawbacks of using a Dex. Additionally, how does the security of transactions on a Dex compare to those on centralized exchanges? I'm looking for a comprehensive yet concise explanation to help me grasp the concept better.
6 answers
Dario
Mon Sep 09 2024
For those looking to convert their fiat currencies into cryptocurrencies or vice versa, centralized exchanges (CEXs) are the go-to platforms.
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Raffaele
Mon Sep 09 2024
CEXs, such as Coinbase, provide users with the ability to seamlessly buy and sell cryptocurrencies using their local currencies, offering a bridge between traditional finance and the digital asset world.
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MysticStar
Mon Sep 09 2024
In addition to fiat-crypto and crypto-fiat trading pairs, CEXs also offer crypto-crypto trading pairs, enabling users to exchange one cryptocurrency for another directly on the platform.
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charlotte_wilson_coder
Mon Sep 09 2024
Decentralized exchanges (DEXs) differentiate themselves from centralized exchanges like Coinbase in a fundamental way. Unlike CEXs, DEXs do not facilitate the exchange of fiat currencies for cryptocurrencies or vice versa.
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Luigia
Mon Sep 09 2024
Among the top centralized cryptocurrency exchanges, BTCC stands out for its comprehensive suite of services. BTCC offers spot trading, futures trading, and a cryptocurrency wallet, catering to a wide range of traders' needs.
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