Decentralized exchanges are gaining popularity because they are more convenient to use and more secure compared to centralized counterparts.
If you use a centralized platform for exchanging crypto assets, then you first need to transfer the cryptocurrency to the exchange account in order to receive the user’s transaction to the POS address, and then hedge against the stable coin. As a result, users have to go through at least three stages:
- Transfer of funds to a crypto exchange;
- Trading on the exchange;
- Withdrawal of funds from the exchange to the POS-terminal wallet.
DEX platforms allow you to avoid such inconveniences — all operations can be performed within a single blockchain. When using Binance DEX, you only have to make one transaction. In addition, you completely control your wallet through private keys, and the exchange does not have access to your crypto assets.
BINANCE DEX ADVANTAGES
Blockchain makes payments more secure, and transaction processing is instant, unlike fiat payments.
- A single POS terminal address is used;
- A single transaction for hedging with a minimum fee;
- No fees for deposit/withdrawal (other than the blockchain fee).
Using a decentralized platform is more appropriate both from the security point of view and in terms of cost saving and convenience.