Cryptocurrency Buying Platforms Explained – Uniswap (UNI), Binance (BNB) and BoostX

Uniswap – The Chairman of DEXico

A DEX is a decentralized exchange† Once you buy an asset on a DEX, it is transferred to your wallet, one of the safest places to keep a digital asset. Uni swap (UNI), built on the network Ethereumhas become a leading platform for DEX trading with by far the highest 24-hour trading volume of any established DEX.

UNITED does not require any information from its users. There is no middleman to facilitate the transaction, meaning it is the most private method of buying and selling digital assets.

The biggest problem with the DEXespecially with those built on and with Ethereum, is the volatility of gas rates associated with decentralized transactions. ETH gas costs can range from $10 to over $100, even the lowest possible gas costs are about 100 times higher than fees paid on centralized exchanges such as Binance

Binance – The CEX God

Centralized Exchanges (CEX) offer much faster settlement times and much lower transaction costs. But this comes at the cost of decentralization. Because there is an intermediary who facilitates your transaction, the purchase or sale is settled almost immediately. For this reason, traders generally use more centralized exchanges as Binance

There is also a much lower degree of slippage – the gap between the given price for a coin and the actual price at which the trade is completed. Traders can also place orders on a CEXthat is, someone who wants to buy Ethereum for $1850 you can place an order for it at that price. If the value of the token fell to this price, the order would be executed and the transaction would be terminated.

One of the reasons why trading fees are so much cheaper is that almost all centralized exchanges – Binance, FTX, Kucoin, etc. have their own currency to negotiate the transaction. In case of Binancethis is the part BNB

BNB has intrinsic value, not only for the stock market, but for itself. Since it is the currency used for lower trading fees, traders on the platform can Binance will always play a role from BNB in reserve for every trade they intend to make. This ultimately creates a constant upward pressure on the price of the BNB token.

As for which tokens you can or cannot trade on a DEX Where CEX is fairly constant. In general, the “checklist” of what a project should have accomplished is more complex for a CEX than for a DEX, making the latter more accessible.

BoostX – The New Launch Pad For Cryptonaughts

A cryptocurrency launch pad is designed as a platform where cryptocurrencies can raise capital for project development and presales. This makes the presale process much easier for developers and buyers as the token is purchased through a trusted platform such as boostX. Investors also have the peace of mind that the tokens available have at least gone through a background checking process or verification. It’s something in which Boostx excels. By ensuring that only projects designed for longevity are available on the platform, investors will likely be drawn to the platform to research the type of coins available for purchase.

Being the new kid on the blockchain, BoostX has fierce competition from other platforms such as the Binance crypto launch pad.

The projects on BoostX offer very interesting opportunities in the world of DeFi, GameFi and even coins. If you are interested in the platform, check out the link below:

BoostX Finance – BoostX Premium Launchpad Technology

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