Via its interface, anyone can create a new BNB wallet with the usual functionality for receiving/sending crypto assets. Binance DEX offers trading tools and a native web wallet for the Binance blockchain. The team’s goal was to create a reliable and transparent financial system that will bring a new level of community freedom by offering much greater control over their own assets. Binance DEX is the next phase in the evolution of cryptocurrency exchanges, which contains all the best features of its centralized ancestor, mixed with the benefits and security of decentralized trading platforms. A few days after the first listings, a trading opportunity appeared. The ability to create wallets and transfer real BNBs and other tokens converted to the BEP2 standard has become available. The platform was relaunched on the Binance Chain mainnet on the. Everyone was given free 200 BNB (testnet) to trade in a few hundred virtual pairs. It was originally launched on, offering users the ability to access the platform on the test network. This is the perfect use case of the Binance Chain network. The Binance DEXīinance DEX is a decentralized version of the Binance cryptocurrency exchange. The central server has nothing to do with wallet accounts if one wallet is hacked, the others will not be harmed because they are not linked to each other. Trading on such platforms takes place directly between participants (peer-to-peer) without third parties (intermediaries).ĭEX uses its own servers to store data on bids and orders for the buy or sale of assets, but the private keys are held by the users themselves. What is DEX?Ī decentralized exchange (DEX) is an exchange that operates on the basis of a distributed ledger, does not store users’ funds and personal data on its servers, and acts as a simple search mechanism for orders to buy or sell user assets. Binance - the leader of the centralized crypto market took a great move and introduced its own DEX solution. Currently, there is an unseen battle for the user’s interest. However, centralized platforms do not want to give up leadership in the field of cryptocurrency trading. Unregulated services attract traders with the ability to handle digital assets independently with a high level of security. The modern cryptocurrency industry offers the community a fairly wide variety of trading platforms, which can be separated into two major categories: centralized (company-managed) and decentralized (DEX).
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