submitted by BusyRelish to DINNGO [link] [comments]
In the cryptosphere, there are two broad categories of exchanges for you to trade coins and tokens. They are centralized exchanges (i.e. CEX, such as Binance, Poloniex, and Bittrex) and decentralized exchanges (i.e. DEX, such as DINNGO, IDEX and Switcheo). Most people first started crypto trading on CEX for its simple and fast experience until they realize the compromise of giving their private keys to CEXs for the convenience. As the saying goes, Not your keys — not your Bitcoin. From there, we see more and more people started trading on DEXs to join the ship of ending third party control of your funds. However, trading on DEXs can sometimes be confusing to people who are used to trade on CEXs. That is why for this article, we provide you an ultimate guide of how to navigate on a DEX easily and efficiently.
1. Register an accountIn most DEXs, no account sign up would be required. Users can start trading as soon as they connect their wallets to the exchange. But on DINNGO, you will need to sign up for an account. Here’s why. On average, users don’t have just one wallet. Some in cold wallet, some in hot wallet. It can be problematic to manage all different types of wallets. With the account system, we are able to provide advanced features and services to users, this includes
2. Trading directly from your walletUnlike CEXs where users send their tokens to the exchange, DEXs let users to make trades directly from their wallets. To start with using a DEX, you need a wallet that can interact with the blockchain that is built on. For DINNGO, it is built on the Ethereum, so you will need an Ethereum wallet such as MetaMask. This wallet can be thought of as a place to store your tokens and you can trade your tokens on the DEX through your wallet.
3. Deposit your funds on the blockchainBefore you place the order to trade, you need to send the tokens that you want to trade to the DEX’s smart contract. We call this process “Deposit”, but instead of keeping tokens with a centralized ledger like most CEXs, your tokens are deposited on the blockchain and you are still the only person that has access to them. This is why, even after you deposit your tokens, you still need to sign each transaction. What does sign each transaction mean?
4. Signing transactionsThe most different experience of trading on DEX is that you are the boss, which means, every transaction can not be processed without your approval. Be ready to see pop-up windows or alerts that ask you to “Sign”. For example, when you first connect your wallet to a DEX, your wallet would ask you to give the DEX permission to interact with your wallet. After which, every interaction with the exchange, such as authorizing a deposit, placing an order or canceling one, will also require a transaction with the blockchain hence you need to sign.
5. Mining timeUnlike CEXs, where transactions are written onto a centralized ledger, DEXs process all transactions onto the blockchain. We call this process “mining”, which means exactly “processing”. It just sounds more professional and cool to say “mining”. And this is why when you sign a transaction, it doesn’t just go through and complete instantly. It has to be “mined” into the blockchain. On Ethereum, and when the network is not congested, this should only take 15–30 seconds.
6. GasOn CEXs, transactions are written into a private ledger and handled by a centralized engine, which is not on the blockchain. But on DEXs, all transactions on the Ethereum network cost gas, which is the currency paid to miners for performing blockchain operations. To trade on a DEX, users are usually responsible for covering all gas fees required to use the exchange. On DINNGO, deposit gas fees are paid directly by the user and all other transactions and withdrawals, DINNGO pays the gas fee to the network and deducts this fee from the user’s transaction.
In general, the biggest difference between CEX and DEX is that you hold 100% control of your assets. Any changes of your assets must be approved by you and we believe this is the only way to be your own boss, to fully manage your assets in your hand. With that being said, DEX is the place to provide you better and safer crypto trading experience.
We hope this guide is helpful for you to better navigate on a DEX. Visit dinngo.co to start trading today and earn $5 worth of USDT by simply complete one trade.
【 About Us 】
1.1 BNB: the fuel of the Binance ecosystem. BNB powers the Binance ecosystem and is the native coin of Binance Chain. BNB is a cryptocurrency created in June 2017, launched during an ICO in July, and initially issued as an ERC-20 token. Designed to be used for fee reductions on the Binance exchange, its scope was extended over the years. Neben Bitcoin ging es in dem Binance Report auch um Alt- und Stablecoins. So heißt es in dem Bericht, dass (nicht gerade überraschenderweise) USDT der beliebteste Stablecoin bleibt. Tether sei vor allem durch die hohe Liquidität geschätzt und bildet einen Großteil des BTC-Volumens. Die institutionellen Investoren mögen laut Bericht BUSD und USDC am wenigsten. Hinsichtlich der Bitcoin ... Market intel. Bitcoin’s stimulus Bitcoin crossed $15,000, the first time since January 2018. The cryptocurrency is now up 7.8% over the past 24 hours and over 108% on a year-to-date basis, with ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Unsurprisingly, owning Bitcoin in a portfolio over 2017 led to greater returns with an alpha-generated return by nearly 4% with only a 1% allocation of Bitcoin. On the other hand, Bitcoin with a 1% target allocation only led to additional marginal negative returns inferior to -1% over 2018, while the price of Bitcoin lost 80% of its value from its peak (see table 1). Binance Coin is not necessarily better than Bitcoin per se, mainly because it's only entirely enabled within the Binance exchange. Bitcoin was more tailored for a global audience, whereas Binance ... No longer locked down in our tiny apartments, but still scattered across the globe, we bring you our Binance Labs monthly portfolio update letter #3. Stay tuned about the progress of our Binance Labs portfolio companies. Make sure to check out what we’ve been reading recently as well as CZ’s book recommendations at the end of the letter.
[index]          
Leslie from Binance Trading walks you through the first report of Binance Research’s new portfolio management research series. The report concludes that portfolios that include Bitcoin tend to ... 🛑BITCOIN BINANCE Greatest 10 000 BTC Air Drop🛑 #btc #bitcoin BTC Binance US 2,831 watching Live now Crypto interview with Kris Marszalek, CEO of Crypto.com @ Delta Summit 2019 in Malta ... I lost $8133 in the Crypto Market with Bitcoin Investing on Binance. This video is about my crypto investing journey, starting with an initial $10,000 investment to a approximately $2000 portfolio. In this video we discuss Cryptocurrency Portfolios and the Roibal Cryptocurrency Index (25 Largest cryptocurrency Market Cap Coins, $10K per positon bought on 4/21/2018). email ... Binance will take a snapshot at the time of the fork. After the forked block-chain and wallet are available and stable, Binance will credit the forked coins to users. Binance Coin has been on fire during the worst periods of the bear market in 2017. In this video I talk about why Binance coin BNB is a top pick for 2019 for huge gains and more. 🛑 Binance Live: Changpeng Zhao AMA & Greatest Bitcoin BTC Giveaway 🛑 #crypto #bitcoin Binance Live 3,189 watching Live now Triple Screw Gear Vise - Duration: 19:25. Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... How to use BINANCE Exchange (Beginners Guide) 2018 Best Trading Strategy to prevent Crypto Loss - Duration: 23:48. Crypto Fiend 319,880 views 09:25 Binance & the Tether Cartel 11:54 Binance is Not Reducing Tether USDT Holdings 13:02 You Can't BS A BS'r: Binance Will Fail 13:48 Stop Using Binance! 14:12 Outro 📺Watch These Videos Again📺