3 Benefit of Using Decentralized Exchange Compared to Centralized Exchange
Decentralized is the core of why bitcoin and blockchain are invented in the first place. But why do we have our exchanges to buy crypto so centralized until they have so much power over your crypto to just runs away with it if they feel like it. Let’s take a look at why the decentralized option is better than the centralized ones :
- Your Funds Security is in Your Own Hands
A true decentralized exchange should put the consent of releasing funds onto the user’s hands. Unlike centralized exchange, you won’t keep any funds on decentralized exchange. Every trade and swaps has to go through your web3 wallets and ask for permission everytime it execute a function. Where in centralized exchange once you put your funds on their wallet, it’s technically theirs and they can use it any way they want including running away with it like what happens on MT GOX and other CEX
2. Does Not Require Sign Up
Any decentralized exchange should’nt ask for the user to sign up, let alone keeping any user data. The DEX does not require to know who you are, where you are, or even what you are! This is really convenient for human rights activist running away from authoritarian regime, press, or virtually everyone that concern about their data safety. Trough DEX your exchange won’t be able to sell your data or even have your data at all.
3. No KYC
Similar to point 2, DEX should require it’s user to submit passport or ID for verification. Everything should be on touch and go basis. Anonymity should be the major priorities of every decentralized system
Those are the top 3 reasons why you should chose DEX like ENEDEX!
Anything that we missed?
Let us know on ENEDEX community on :
🐦Twitter : https://twitter.com/ENEDEX_HQ
🗣 Telegram : https://t.me/ENEDEX_Official
📖 Medium : https://medium.com/@enedex
Get $ENE today to be a part of sustainable blockchain and energy evolution on :
🥞Pancakeswap : https://pancakeswap.finance/swap?outputCurrency=0x3becb1170183fdbc8f1603dacd1705c093bc33b7
Analyze price actions on :
👾Dextools : https://www.dextools.io/app/bsc/pair-explorer/0xc2660b04dc2fb671ba6860cf9f9292a2b68bf486
📈Coinmarketcap :
