As a newbie or a old timer in the cryptocurrency ecosystem and the blockchain at large they are some certain things that you should be conversant with. It will be bad seeing that somebody came to you thinking you have knowledge in the cryptocurrency field that he/she wanted only to get close to you and discovered that you are purely a reflection of nothing. You might ended up loosing the respect the person has for you especially if the person has big believe in you to be able to deliver on what he wanted. We all knows how it goes seeing that the person you are aiming to relent on has no firm foundation. There is joy in all you do knowing fully well that what you are looking for there is somebody who can easily guide you through by putting you through on all that is needed for you to succeed out there. We all knows that making sure you are conversant with some certain things in the cryptocurrency ecosystem will pave way for your cryptocurrency success as time progresses.
I have seen people complaining or asking so many questions regards centralized exchange and the decentralized exchange. Many have been meaning to know the differences and the use case they both serve to the cryptocurrency ecosystem and the blockchain at large in general. As for your information, when you are refering to centralized and decentralized exchange they are two different things or words. When I come to the cryptocurrency ecosystem and the blockchain at large they are both serving their purposes and there is nothing like one is better than the other. We all knows that when it comes to debate there is every tendency that people will state the reason why they love one over the other. It is how good it is to you that will make you give out the rating that pleases you. Just like what I stated above, you should knows that irrespective of the two, people will surely chooses the one that pleases them. If you take proper look at both you will see that the two ecosystem have been working together for a very long period of time, it is now left for you to choose the one that you are sure can aid whatsoever thing that you wanted to do. This is why we preach decentralization in the cryptocurrency ecosystem, we wanted a system where you don't have to relent on any body to succeed out there. We wanted a system where you are free to do what pleases you without any intermediaries.
Difference between Cex and Dex
With the message that I am trying to pass above, there is every tendency as a newbie or somebody in the cryptocurrency ecosystem and the blockchain at large to know what some certain things are. Aside knowing everything else, knowing about what is centralized exchange and decentralized exchange is an integral part that we all needs to know. The word centralised and decentralized exchange has been roaming in the cryptocurrency ecosystem and the blockchain at large for a very long period of time. This is the main reason why I decided to put out this post. I want us to be able to identify and separate the word decentralized finance exchange from the centralized finance exchange.
As for your information, the centralized exchange when it comes to cryptocurrency ecosystem and the blockchain at large are also called custodial wallet while decentralised wallet are wallet that are non custodial. By custodial (Centralized) wallet we means that you don't have full access to your cryptocurrency asset or wallet while the decentralized exchange (Non Custodial wallet) are wallet that give you full access to your cryptocurrency holdings. With the decentralized exchange you can do whatsoever you like with your cryptocurrency wallet, there is no third party or intermediaries in place to dictate what you are to do or how you are suppose to carry out your transaction or how you are to use your cryptocurrency wallet. Everything you do is being handled by you mainly. Examples of centralised exchange include Binance, crypto.com, hotbit, coinbase etc. As for the decentralized exchange out there, we have wallet like Imtoken, Trust wallet, Token Pocket, Metamask etc as examples of decentralized wallet.
I will end the lost here, have a nice day.
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