Types of Crypto Exchanges
CEX (Centralized Exchanges): Examples include Binance, OKX, BingX, and regional platforms like BitoPro or MAX.
- Transactions on CEX occur off-chain, recorded only in the exchange's internal ledger.
- Crypto assets are custodied by the exchange until withdrawal to a blockchain.
DEX (Decentralized Exchanges):
- Operate directly via Web3 wallets (e.g., MetaMask), enabling peer-to-peer trading on-chain.
- Users retain full ownership of assets in their wallets.
- Some DEX platforms offer advanced order types (market/limit), though this guide focuses on basic swaps.
Benefits of Using DEX Directly
- Lower Fees: During off-peak times, blockchain gas fees can be significantly cheaper than CEX withdrawal charges.
- Reduced Errors: Fewer transfers mean fewer chances for address-related mistakes.
👉 Discover the best DEX platforms for low fees
Step-by-Step DEX Guide
Prerequisites:
- Ensure your wallet holds BNB (Binance Coin) or the native token of your chosen blockchain (e.g., AVAX for Avalanche).
- Always verify network fees before executing trades.
Security Reminders:
- Never share your wallet’s seed phrase.
- Double-check contract approvals when interacting with DEX smart contracts.
Common Questions (FAQ)
Q: Who sells tokens like NXPC in DEX trades?
A: Sellers are anonymous counterparties taking the opposite side of your trade. DEX aggregators pool liquidity from multiple sources, further anonymizing transactions.
Q: How do fees compare to CEX transfers?
A: Transactions on networks like Avalanche (AVAX-C) or BNB Chain often cost under $0.10, far cheaper than typical CEX withdrawal fees.
Q: What if I encounter high gas fees?
A: Monitor fee trends using tools like Etherscan or GasTracker. Postpone trades during spikes.
Pro Tips
- Use Maicoin’s USDT (AVAX-C chain) for fee-free withdrawals before swapping to target tokens.
- Keep small amounts of native tokens (e.g., AVAX) in your wallet to cover transaction fees.
👉 Learn advanced DEX strategies here
For further optimization, explore cross-chain bridges or layer-2 solutions to minimize costs.
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