Let’s talk about centralized and decentralized exchanges.
On a CEX, on-chain transfers generally only happen when you deposit or withdraw. Buying and selling on the platform simply updates the balance in its ledger.
One thing that’s easy to overlook: anyone can create a new pool on a DEX. New tokens can be listed quickly, but counterfeit tokens are also more common, so verify a token’s contract address.
Prices of obscure tokens on DEXs are usually subject to significant price impact. Before swapping, check the estimated amount you’ll receive.
$BNB is both a core token in the Binance ecosystem and the native coin used to pay gas fees on BNB Smart Chain.
On a CEX, on-chain transfers generally only happen when you deposit or withdraw. Buying and selling on the platform simply updates the balance in its ledger.
One thing that’s easy to overlook: anyone can create a new pool on a DEX. New tokens can be listed quickly, but counterfeit tokens are also more common, so verify a token’s contract address.
Prices of obscure tokens on DEXs are usually subject to significant price impact. Before swapping, check the estimated amount you’ll receive.
$BNB is both a core token in the Binance ecosystem and the native coin used to pay gas fees on BNB Smart Chain.