Currency Exchanges (DEX)

Currency Exchanges (DEX)

Currency Exchanges - 24 hour ATMs

There are 2 types of exchanges you need to know about.

  1. Centralized Exchanges: Binance and Coinbase are a middle-men who need to custody your crypto for you to use them.
  2. Decentralized Exchanges (DEX): Uniswap and Sushiswap are exchanges where software is the middle-man, instead of humans. No ID verification is required. Everything goes from and to your wallet, so you maintain custody of your crypto at all times.

☑️ Benefits of decentralized exchanges:

  • Your crypto goes in and out of your wallet, not a third party. You possess your crypto at all times, no third party needs custody it for you, so it can't be lost, taken away, seized.
  • No limitations, restrictions, access your funds right away & do what you want with them.

☑️ Benefits of centralized exchanges:

  • Buy crypto with physical currency (USD, GBP, EURO...)
  • Some are insured if funds lost.
  • Customer support (although not great)

Popular Decentralized Exchanges (DEX):


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