Exchange is like the bridge between buyers and sellers in any trading space. It's the platform that facilitates transactions with low fees and offer other services to manage with Crypto and Fiat assets, like savings, staking, etcétera. It displays the pair with an order book in real time, making possible to set limit, market or OCO orders. It also brings indicators, framing charts of different times and of course the 24 hours high and low price plus volume of transactions. Popular exchangers that are currently working good with huge volumes of assets are Binance, Poloniex, Huobi, Bitrex and more.

Decentralized and centralized condition between both products is the main difference. Users can have the whole control of their assets through their private keys in a wallet, becoming the unique responsible of them, meanwhile the exchangers manage our wallets opened in their platform, they have the private keys to authorize operations we make over there.

As there's the possibility of a DEX integrated in the wallet (decentralized exchange, for the case of a multi functional wallet like Trust Wallet), transactions used to be lower than the ones that are usually taken place in exchangers, where the daily volume is even higher and processes to trading coins are even faster than any other digital space.

As I mentioned before, in decentralized exchangers there are lower quantity of operations with smaller volume of assets too, so the obvious disadvantage is the slower time to wait until a process we released is completed. Of course in a centralized exchange this is faster due to the higher amounts.

But at DEX, you have the control of your assets: you personally authorize transactions with your private key which must be carefully stored in a offline way. Binance or any other exchange, for instance, they all just provide you the public keys (let's say the addresses of different assets they support) and that's it. They are owning the private ones and of course that means you don't have the whole authority of your money indeed.

Binance it's the only official exchanger I've used so far since I've started with the contact of crypto world, thanks to Steemit. I like the interface and factors of security (KYC) they apply in order to identify users and avoid fraudulent acts. The services and products I use to take in Binance are:

Not always I have enough time and experience to trade successfully, so this is a great way to generate passive income from crypto coins' staking. Just choose the asset of your preference, subscribe the minimum amount of 0.1 or 1 (depending of the coin). Until now I've been carrying out the flexible savings of several crypto assets to convert the dust in BNB and always have enough for fees in transactions.

I love the LaunchPad product because it's a great opportunity to obtain for free the most recent blockchain projects' coins through the staking of assets like BNB, BUSD or another ones like PolkaDot, BETH or Ada Cardano. The money is locked by a fixed time of 30 or 14 days, depending of project's request and then, at the end of farming you'll get harvesting and transferring the new coins to your spot wallet. That's basically the fact in Binance LaunchPad.

Of course this is the main activity I usually do in Binance: to change my earned assets to another ones of my interest, trying to obtain a higher amount of value in dollars (going long generally with stable coins) or in crypto assets (going short in this case). The routine is to choose the right time frame, display the indicators and order book to analyze and decide which price would be my level of benefit and setting the stop loss of course to avoid an important but undesirable tendency.

However, I can't forget the fact of how I learned to transfer between the different networks where these coins are working on. Over here I realized for the first time the importance of paying attention about the right details before making any operation because I'd be losing my funds if I send them to a wrong network. That is: BEP20 (for Binance Smart Chain) is not the same like BEP2; or TRC-20 vs TRC-10 for Tron network, of course we're not talking about similar things despite they're working at the same platform... or ERC-20 is not even the same either.