When you buy crypto on an exchange versus swap tokens on-chain using a wallet, who holds the assets?
Definition: Uniswap launched on Ethereum in November 2018 and was one of the earlier decentralized exchanges to adopt AMM. $UNI is the governance token of this protocol.
The logic behind it: The biggest difference is who holds the assets: on a CEX, the platform holds them for you; on a DEX, you control your own private keys.
$BNB is both a major token in the Binance ecosystem and the native currency used to pay Gas on BNB Smart Chain. Current price: 696.46.
Understanding how it works can help you avoid some pitfalls, but it can’t replace good position management.
#BNB
DYOR and participate responsibly.
Definition: Uniswap launched on Ethereum in November 2018 and was one of the earlier decentralized exchanges to adopt AMM. $UNI is the governance token of this protocol.
The logic behind it: The biggest difference is who holds the assets: on a CEX, the platform holds them for you; on a DEX, you control your own private keys.
$BNB is both a major token in the Binance ecosystem and the native currency used to pay Gas on BNB Smart Chain. Current price: 696.46.
Understanding how it works can help you avoid some pitfalls, but it can’t replace good position management.
#BNB
DYOR and participate responsibly.