Crypto Academy Season 3 Beginners' course - Homework Post for Task 5: [Dex, Cex, intercambios populares y comercio de criptos] prof: @imagen || by @wenceslaowi
Good tidings to all, it is a delight to be essential for the #CryptoAcademy again by joining this start of the 3 season, where I will look to keep educating myself on all the information that proff. give us. This week I am joining the talk by proff. @imagen where he gives us a presentation on the fundamental subjects of the universe of crypto resources, like trades, trades, wallets, among others.
Exchange To comprehend on a basic level the trading of Cryptocurrencies I need to underline the idea of widespread trade and that will be that the trade is:
"Trade is known as the activity of giving a certain something or playing out an activity in return for something different or another activity" Source
So we can comprehend that in the realm of crypto resources, the trade works similarly, it is just the deal between two individuals with cryptographic forms of money, as such it is just individual A gives a specific measure of BTC to get USDT while the individual B gives his USDT to get BTC. It is just an arrangement between two gatherings where they trade crypto resources.
These trades are done on stages which are responsible for preparing all trade requests, and this is the thing that we know as Exchange. These stage are just advanced trade markets in which clients purchase and sell crypto resources for fiat cash or other cryptographic forms of money.
The trades are likewise viewed as market producers and since they take the uniqueness among market interest, a few trades may charge commissions or expenses for these exchanges.
The trades are additionally grouped by their sort or nature, and these trades can be Centralized or Decentralized.
Centralized This kind of trade is controlled by huge substances or a solitary element which settles on the choices and plays out the activities of the stage playing out the capacity of middle person and being a key piece of the interaction. In these trades, clients have full trust in the focal element that controls the trade, which is the one that directs how exchanges are done and who endorses them.
These trades, because of their volume and liquidity, have taken the cutting edge of trades, the most mainstream concentrated trades are:
- Huobi Global
- Binance
- Poloniex
- Coinbase
Decentralized It ought to be noticed that the assets and activities of additional items exchagen are administered by the client since he has full control of the tasks and is liable for them.
The most famous decentralized trades are:
- Bancor Protocol
- WavesDex
- Quickswap
- Uniswap
Differences between Wallet and Exchanges At the point when we talk about Wallet and Exchanges we can discover likenesses in which the two can store our crypto resources, however they are not exactly the same thing and they have incredible contrasts between them.
- wallets can work without web, explicitly chilly wallets are these wallets are usb or hard drives that work disconnected, while trade to store or trade you need web access.
- The primary huge contrast is that wallets are applications, that is, programming or equipment that are utilized to store, send or get crypto resources, while Exchange are digital money trade stages.
The trades permit you to trade one digital currency for another while in the wallet you just store them.- The trades permit you to store cryptographic forms of money like the Wallet however not with the adequate security and protection that you are computerized wallets.
- In trades you can trade your digital currencies for fiat cash, while with wallets you can just send and get cryptographic forms of money.
Centralized Exchange (CEX)
Benefit/ Advantages Disadvantages These stages offer clients a greater number of choices than simply trading their resources, they give clients various choices to move and create their cash. The commissions or expenses charged by these stages are higher than the Decentralized stages. CEX stages are more normal and simpler to utilize, they are less intricate which makes it simpler for the client. The client doesn't have full command over his assets. CEX stages offer more prominent volume and liquidity, which draws in the consideration of more financial backers and is their top choice. The danger of programmers taking your cash is a lot higher, they are more defenseless against assaults.
Decentralized Exchange (CEX)
Benefit/Advantages Drawbacks /Disadvantages These stages are totally unknown. Its capacities are fundamental and are restricted to trade. These stages are safer and dependable Its volume and liquidity are not unreasonably extraordinary, so tasks can be counterproductive. Clients have full power over their assets. They are more mind boggling stages, it is important to have a more prominent information for their activity.
Have you used an Exchange before?
Before my landing in Steemit I knew about binance, however I had not completed activities or exchanges as such in it since I didn't have reserves and because of money restrictions in my country it was difficult for me to purchase crypto resources.
After my beginning in steem and what the cryptoacademy is, my insight developed and I have taken in the various capacities and activities that we can act in trades. The trade that I utilize the most to trade my coins is binance where I likewise trade them for Fiat money with its P2P framework and investigated its different capacities, for example, marking and different capacities.
Be that as it may, I utilize another trade like Poloniex, which I use to exchange my steem since binance now and again has the money in upkeep and Poloniex makes it simpler for me to exchange, purchase or sell steem.
Others that I have as of now utilized Kucoin and Hitbtc, these I am simply starting to exchange and realize their usefulness to comprehend their activity as well as could be expected.
Conclusion 
Thanks
Hello @wenceslaowi , I’m glad you participated in the 5th Task of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:
Observations:
Please reference this statement properly.
Recommendation / Feedback:
Your writing skills is very bad. I notice you make use of paraphrasing tools to change sentence structure and also change relevant cryptocurrency terminologies. This act makes your work very difficult to understand. Please use the right cryptotocurrency terms to produce a quality content.
Thank you for submitting your homework. task 5. We hope to see the rest of your submissions.
Such a nice post! Keep up the good work!