There are two types of crypto platforms: centralized and decentralized. Decentralized platforms are services that enable the exchange of digital assets. There is no central body that controls transactions, so DEX does not provide 100% security. Funds move between users’ wallets and do not remain on a platform. These exchanges are suitable for quick trade with small amounts of money, but it is not safe to transfer large sums on them. DEX often does not require user registration. Examples of such popular platforms are SuchiSwap and PancakeSwap.
Central platforms also allow for Cryptocurrency trading, but offers a more comprehensive set of tools that advanced traders will apply. CEX allows users to deposit fiat money from their bank cards and transfer cryptocurrency pairs. Such exchanges have a bank-like management format. There is a team working to provide a high level of security for clients’ funds. For this purpose, CEX implements complex account protection mechanisms.
Which exchange should I use to trade cryptocurrency in different modes?
We offer the WhiteBIT platform. It is a centralized exchange offering more than 450 pairs with popular cryptocurrencies and fiat currencies. Here are the trading positions on WhiteBIT:
1. The spot market – Buy cryptocurrency at the current market price.
2. Futures Derivatives – Predict the future crypto price and bet on it in a futures contract. Earn on up and down trends.
3. Margin – Use leverage to double your initial position.
4.p2p – Direct swaps between users on a cryptocurrency exchange.
Additionally, WhiteBIT offers tokens, DEX, and crypto lending. You will find the best cryptocurrencies with updated market prices, low fees of 0,10% and a high level of security for clients.
Read the WhiteBIT blog to learn more about the platform’s features. It posts interesting articles about the crypto industry, useful guides on different trading strategies, overviews of new and upcoming crypto projects, contests for the community, etc.