What Are Centralized Gateways? How Does It Help DeFi?
📊You can have a decentralized app, but it will probably go through at least one centralized gateway. So what are centralized gateways?
📍A centralized gateway can be easily understood as an access point and can be used to access DeFi services. Turning your tokens into actual money and vice-versa in a decentralized app will require the user to trust a centralized gateway.
🪙Decentralized exchanges are usually crypto-to-crypto only, which means there are limited payment options because you can only trade one cryptocurrency for another. You can only deposit crypto funds to a decentralized exchange, but with centralized exchanges, you can deposit fiat money from your Debit/Credit card and Bank account. This is because of the very nature of the fiat world that only has centralized gateways.
📈The new generation of centralized platforms provides access to decentralized tokens and DeFi services. Others may prefer the autonomy and flexibility of DeFi, and choose to explore the tools and technologies that connect CEX directly to decentralized protocols.
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