INTRODUCTION TO DEEX EXCHANGE
Bitcoin has turned the world around, who knew bitcoin would be so important as at today? Well only but a few knew about the potentials and invested in cryptocurrencies and now they must be super rich as at now. The others who didn’t know the potential of cryptocurrency dumped it at a ridiculously low rate. This is the story of the crypto space, as at the year 2017 there was a great turn around in the market cap(amount of money cryptocurrencies are worth), as bitcoin rose from as low as few thousands of dollars till it hit twenty thousand dollars. So many icos and projects came into existence with promises to solve real life situation with cryptocurrency, just as many projects came out of the blues so many exchanges as well were developed. Due to the rush of newbies into the space , the market cap was continuously rising and this exchanges were busy with listing of several tokens that were coming newly into the space. After a while the market began to correct and the hodl spirit began to reduce, lots of useless projects began to fall to the ground in the year 2018 and the good and useful projects were revealed. Just as projects crumbled to the ground, some exchanges lost lots of value and became rarely used by crypto traders. As at that time, it was then revealed that only few exchanges were able to meet up with the needs of day traders. Like I said earlier, there arev several crypto exchanges in existence and this exchanges are divided into two major types which are
- THE CENTRALIZED EXCHANGE
- THE DECENTRALIZED EXCHANGE
Most exchanges on the crypto space are divided into one of this types, to further make it understandable I will define and differentiate between both exchanges
WHAT IS A CENTRALIZED EXCHANGE:- A centralized exchange is one where the whole exchange is owned and managed by an individual or a group of individuals, all affairs and dealings on the exchange are controlled by the admins in charge and regular users have no say on how things are done . On centralized exchanges assets of all users are stored on the exchange based wallet and also in the hands of the admins in charge . Stick around to learn the differences between a CEX and a DEX
WHAT IS A DECENTRALIZED EXCHANGE :- A decentralized exchange works in opposite manner when compared to a centralized exchange, on a decentralized exchange, ever user is equal, and the admins have little power over the operations of the users. On a decentralized exchange, assets are stored on individual wallets created and owned by the users of the decentralized exchange
Difference between decentralized exchanges and centralized exchanges
• Centralized exchanges are usually more profit oriented than decentralized exchanges
• Centralized exchanges are less secure when compared to decentralized exchanges
• Centralized exchanges possess more funds and volume when compare to decentralized exchanges
• Transaction charges are usually high on most centralized exchanges when compared to decentralized exchanges
From all that has been said it is very visible that the main challenge faced by decentralized exchanges is the challenge of funds and volume as traders have no patience to wait hour for a single order to fill. Normally on decentralized exchanges due to poor volume it has been seen that traders often lose money due to low volume and funds present on trading pairs. But what if I tell you that the deex exchange is a decentralized exchange that will change the issue faced by decentralized exchanges.
The deex exchange is a decentralized exchange with a difference as it possess all the strength and benefits accustomed to decentralized exchanges and also has good liquidity which is the most serious challenge . If you would love to know more about the deex exchange platform, I will advice you stick to my page and wait on my next article or visit the links below and see things for yourself;
WRITER'S INFO
NAME :-Pedro
BTT USERNAME :- Cryptograce