A quick explanation of centralized and decentralized exchanges:
On a CEX, on-chain transfers generally only happen when depositing or withdrawing. Trades within the platform simply update the balances in its ledger.
Anyone can create a new pool on a DEX, so new tokens get listed quickly, but there are also more counterfeit tokens. Verify a token’s contract address to identify it.
Before swapping tokens on a DEX, verify the token’s contract address and watch out for slippage and approvals. Don’t rely on the name alone.
$BNB 694.39 (+0.15%)
#BNB
On a CEX, on-chain transfers generally only happen when depositing or withdrawing. Trades within the platform simply update the balances in its ledger.
Anyone can create a new pool on a DEX, so new tokens get listed quickly, but there are also more counterfeit tokens. Verify a token’s contract address to identify it.
Before swapping tokens on a DEX, verify the token’s contract address and watch out for slippage and approvals. Don’t rely on the name alone.
$BNB 694.39 (+0.15%)
#BNB