Not happy with your CEX life? π€·π»ββοΈ
We don't blame you ππ»
But, perhaps, you don't yet know the difference between CEX vs DEX π‘
In light of last week's events, let's do a quick review of the two ππ»
We don't blame you ππ»
But, perhaps, you don't yet know the difference between CEX vs DEX π‘
In light of last week's events, let's do a quick review of the two ππ»
A cryptocurrency exchange is a platform that allows users to buy and sell digital assets.
A decentralized crypto exchange (or DEX) is a platform that allows users to trade digital assets without the need for a central authority.
Loop Finance has built a decentralized exchange.
A decentralized crypto exchange (or DEX) is a platform that allows users to trade digital assets without the need for a central authority.
Loop Finance has built a decentralized exchange.
The main difference between these two types of exchanges is who controls the platform.
Centralized exchanges (CEX) are controlled by a single entity, while decentralized exchanges are controlled by a network of users.
Centralized exchanges (CEX) are controlled by a single entity, while decentralized exchanges are controlled by a network of users.
Both types of exchanges have their own advantages and disadvantages.
However, a major disadvantage of CEXs are the lack of control a user has of his/her funds (see FTX).
Like they say: "Not your keys, not your crypto."
At #LoopDEX, you hold the keys.
However, a major disadvantage of CEXs are the lack of control a user has of his/her funds (see FTX).
Like they say: "Not your keys, not your crypto."
At #LoopDEX, you hold the keys.
We're currently producing a long-form article which will include all the intricacies of the DEX vs CEX discussion -- which is more important now than ever.
Last week reinforces our belief that DEXes - and more importantly, DeFi - are the future.
RT if you agree!
Last week reinforces our belief that DEXes - and more importantly, DeFi - are the future.
RT if you agree!
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