Exchanges — Conduit to Digital & FIAT Currencies

  • Centralized Exchange.
  • Decentralized Exchange.

Centralized Exchange

  1. User-friendly: Centralized Exchanges offer a familiar, friendly way of trading and investing in cryptocurrencies.
  2. Reliable: Centralized exchanges offer higher levels of comfort, security, and reliability.
  1. Transaction Fees: Centralized exchanges often charge high transaction fees for their services. This can be especially high when trading in large amounts.
  2. Hacking Risk: Centralized exchanges are operated by companies that are responsible for the holdings of their customers. Large exchanges usually hold large amounts of bitcoin thus, making them a target for hackers and theft.

Decentralized Exchange

  • Anonymity: Decentralized exchanges do not require customers to fill out know-your-customer (KYC) forms, offering privacy and anonymity to users.
  • Preventing market manipulation:. Decentralized exchanges prevent market manipulation due to their nature of allowing for the peer-to-peer exchange of cryptocurrencies.
  • Complexity:. Users of decentralized exchanges must remember the keys and passwords to their crypto wallets, or their assets are lost forever and cannot be recovered. This makes it less convenient for users.
  • Decentralized exchanges do not allow for the trading of fiat currencies for digital ones, making it difficult for users that do not already hold cryptocurrencies.
  • Deposit crypto(buy with a credit card) and sell your crypto on the market.
  • Trade Futures.
  • Trade with Margin.

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Precious

Precious

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Content Creator || Blockchain Ambassador || Public Speaker || Community Management. Reach out to me: ekerekepreciousimeh@gmail.com