First, users need to familiarize themselves with external wallet platforms so they can interact with a DEX. Then, they must fund their wallet by transferring fiat or cryptocurrency. Finally, they need to link this wallet to the DEX interface to execute a trade .
Read moreHow do centralized exchanges work?
Centralized crypto exchanges directly participate in markets by “clearing” trades . They typically keep digital order books, which are lists of open buy and sell orders, consisting of volumes and prices.
Read moreWhat does a crypto DEX do?
The idea behind a DEX is “disintermediation,” which means removing middlemen to allow regular people to do business directly with each another . A DEX doesn’t offer custody of users’ crypto assets. Instead, users directly hold all their assets in their own wallets at all times.11 Şub 2022
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