Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
With crypto awareness and adoption on the rise, the number of crypto users is at an all-time high. By the end of 2022, it is estimated that there would be 1 billion crypto users. To these crypto users and traders, crypto exchanges are an integral part of their trading experience.
Crypto traders often find themselves using an exchange like Binance or Coinbase to make their first investment.
Centralized exchanges (CEXs) reported a trading volume of more than USD 14 trillion last year with a year-on-year surge of a massive 689% and are wildly popular among investors for good reason: they are user-friendly and quicker.
What several centralized exchange users do not know is that, in most cases, users do not "own" their crypto. For instance, Coinbase's terms clearly imply that the users' funds are subject to liquidation by the entity in case of bankruptcy.
Decentralized Exchanges or ‘DEXs’, on the other hand, have been witnessing a record-high increase in trading volumes up to the tune of 858% compared to last year! But what are DEXs?
Decentralized exchanges (DEXs) are marketplaces where crypto assets can be traded directly between buyers and sellers without the involvement of intermediaries. DEXs allow peer-to-peer trading meaning users can swap and exchange cryptos among themselves.
All transactions are stored within the DEX on a shared digital ledger instead of a central server like in CEXs. This poses a check against hacks and exploits as there can be no single point of failure, guaranteeing greater security than CEXs.
Moreover, DEXs are non-custodial and let users have full control over their digital wallet and private keys and
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