Decentralized Exchanges

Decentralized exchanges

There are more and more decentralized exchanges, Crypto arose from dissatisfaction with our central money system.
Satoshi Nakamoto thought that banks have too much power and that is why he invented bitcoin.

The most interesting thing about cryptocurrencies is that they are decentralized and nobody is in charge of the blockchain.
However, the largest exchanges, Binance, Huobi etc are central exchanges. If you look at the vision of cryptocurrencies, it is strange that the most used exchanges are central instead of decentralized.

What is a Decentralized Exchange?

A decentralized exchange is an (online) exchange market that does not rely on a third party to manage the user’s cryptocurrencies. Instead, users can trade directly with each other (peer to peer) through an automated process.

This means you don’t have to trust or fear any central authority being hacked.

Always open and act quickly

If you have a good internet connection, you can use decentralized exchanges. The servers are running anytime, anywhere. The transaction costs are in most cases a lot lower than central exchanges.

Security

The decentralized exchange cannot be hacked. This is really a big plus, who or what can hack you if no one controls the cryptocurrencies?

You have control over your cryptocurrencies because you manage your own private keys.

We as CryptoBieb give a decentralized Exchange a 10 out of 10 for security.
Beware of central exchanges, “Not your keys, not you coins”.