Defi Decentralized exchange intro. What is Decentralized Exchange?
Defi
. Trade is a decentralized exchange. In short it is also known is Dex is an exchange market. A decentralized
exchange does not rely on third party services to control customers ‘money.
Through decentralized exchange transaction occur directly between users through
an auto process.
How to Trade on Decentralized exchange?
On
decentralized exchange anyone can trade without any restriction. There is no
need to use fiat currencies. Because DEXs do not need any KYC , they do not
comply with ANTI MONEY LAUNDERING.
Benefit
of Decentralized exchange:
The most
important benefit to use a decentralized exchange over a centralize exchange Is
trust less nature. You need not to worry for security or honesty of an exchange.
Because money is just in your own hands. There is no control of third party on
your money.
Another
advantage is to use a decentralized exchange is to secure your privacy your identity.
Your
identity can not be reveal to third person.
As centralized exchange do with their customers.
Decentralized
exchanges are safer against hackers there is not a single weak point like
centralized exchange. No government regulation can affect on these dexs
exchange reason is that there is no single authority.
What is Block chain?
Block
chain is a simple and easy way to transfer information from one to another with
a secure and automated way. The block verifies thousands of computers to
distribute on a network. A block create a chain to store data, it keeps not
only a single record but also record every single and unique history.
A
block can handle two different things at time. It is very important to know
about block chain that it is entirely free. It not only transfer and store money but it also allow us
no need to use that services which charge a small fee for transaction.
Conclusion :
Decentralized exchanges more secure and easy to use without third party .
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