![]() On the other hand, a decentralized exchange (DEX), like Uniswap, SushiSwap, Shibaswap, etc., is a non-centralized alternative to a centralized exchange and isn’t governed by any central authority. ![]() However, the drawback of trading on a CEX is that it’s highly vulnerable to hacking or cybersecurity threats. Centralized exchanges require their users to follow KYC (know your customer) and AML (anti-money laundering) rules by providing some information and personal identification documents. Most crypto transactions are conducted on centralized exchanges, allowing users to buy and sell cryptocurrencies for fiat currencies such as the US dollar or digital assets like BTC and ETH. Centralized ExchangeĪ centralized crypto exchange or CEX, such as Coinbase, eToro, Binance, etc., functions as a middleman between buyers and sellers and charges specific fees for using their services. To trade cryptocurrencies, you must use a centralized or decentralized crypto exchange, so let’s look into the details of each type below. Also, consider whether the cryptocurrency exchange is regulated by the Financial Industry Regulatory Authority (FINRA) and allows you to buy crypto using your preferred payment method. Compare the exchanges’ security, user experience, fee structure, supported crypto assets, etc., to choose the one with the features you need, such as affordable transaction fees, top-notch security, high trading volume, an intuitive platform, round-the-clock customer service, etc. Visit the market page on CoinStats to view the exchange platforms supporting BNB tokens. ![]() To put this in perspective, the dollar equivalent of these tokens is a little over half a billion dollars.įollow our step-by-step buying guide below to buy BNB tokens: Step #1: Select a Crypto Exchange The most recent burn took place on the 15th of April, 2021 where 1,099,888 Binance coins were burned. Binance exchange makes use of one-fifth of its overall profits to burn its Binance coin holdings four times annually, i.e.
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