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2. What are Exchanges? 🤔😛 <<<Crypto Education>>>

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In the world of cryptocurrencies there are two types of exchange. CEX and DEX. The graph shows the difference for each one.

What you should know about CEX:
  • Used to change fiat to crypto and crypto to fiat.
  • CEXs can block your money without warning for any reason.
  • The CEX may ask to verify your identity and origin of funds.
  • Some cannot serve clients depending on their location.


What you should know about DEX:
  • DEXs are smart contracts that exchanges run.
  • To use a DEX you need to already have cryptocurrencies in possession since they do not have fiat money input.
  • Most DEXs trade only with assets from the same chain where they are located. Ex Uniswap is used to exchange ERC-20 Ethereum tokens.
  • DEX can be used from your software or hardware wallet.


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Ed_Ale
Edrul Alejandro.
Telegram : t.me/EdrAlejo
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Beyond Technical AnalysisBTCCEXcryptocurrenciesCryptocurrencycryptoeducationDEXeducationalETH

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Beyond Technical AnalysisBTCCEXcryptocurrenciesCryptocurrencycryptoeducationDEXeducationalETH
Ed_Ale
Edrul Alejandro.
Telegram : t.me/EdrAlejo
Instagram : instagram.com/edrul_alejandro/
Link : linktr.ee/Edrul_Alejandro_
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.