Why do some trades require you to register an account, while others let you trade simply by connecting a wallet?
Centralized exchanges (CEXs) hold users’ assets on their platforms. Trades are matched on the platforms’ internal order books, so not every transaction is recorded on-chain.
If you want convenient deposits and withdrawals and access to customer support, CEXs are easier to use. If you want to control your own private keys and use on-chain applications, you’ll need to learn how to keep your wallet secure.
$BNB is both a core token in the Binance ecosystem and the native currency used to pay gas fees on BNB Smart Chain. It’s currently 747.96.
If you have any friends who are new to crypto, feel free to share this with them.
This article is for informational purposes only and does not constitute investment advice.
Centralized exchanges (CEXs) hold users’ assets on their platforms. Trades are matched on the platforms’ internal order books, so not every transaction is recorded on-chain.
If you want convenient deposits and withdrawals and access to customer support, CEXs are easier to use. If you want to control your own private keys and use on-chain applications, you’ll need to learn how to keep your wallet secure.
$BNB is both a core token in the Binance ecosystem and the native currency used to pay gas fees on BNB Smart Chain. It’s currently 747.96.
If you have any friends who are new to crypto, feel free to share this with them.
This article is for informational purposes only and does not constitute investment advice.