DEX

Matth3w_95

Some DEX is already nice. I like Pancakeswap for example, from that point of view I think it's even better than Uniswap.

tidiss

cant you just withdraw it back to your wallet after you made a trade if you dont trust DEX? it would cost you about 0.60$ in fees to transfer it to bisq and than of of bisq.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

JuggaliciousMemes

Centralized Exchanges are the most convenient way of buying, selling, and trading crypto. I personally believe we need both CEX’s and DEX’s in order to have a well-rounded industry and to invite continued adoption and growth

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

Jinxsyns

Don't those stations run a huggggee markup on how much you're paying for your coin? for example, based on my experience in the US when bitcoin was at 26,000 stable a few months ago I went and looked at a local gas station that has an atm you can buy bitcoin through it was like an extra thousand if you wanted to buy 1 whole bitcoin. That's ridiculous markup when compared to any CEX or DEX. I'm curious if it's the same in Canada

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by Blendzi0r. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by Blendzi0r. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

zesushv

Anyone who is genuinely surprised by this has been living in 2015. Like every known cex, Binance is CENTRALISED. It is normal that it's activities and accounts are too. Need a less clingy trading business system go [DEX](https://np.reddit.com/r/zetablockchain/comments/1376kop/defi_amm_platform_towerdefi_now_supports_twstzeta/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)/DeFi. It is what it is.

MichaelAischmann

Go DEX.

Spacedude2187

I’m still shopping around but Beamswap (GLINT) is another DEX that I like.

Every_Hunt_160

How many of shitcoin investors are first timers into crypto? I feel that most shitcoiners are experienced investors who just happen to be degen gamblers as well. You know, it actually is a lot more difficult to buy a shitcoin compared to Bitcoin because usually none of these are listed and you have to create a DeFi wallet, transfer crypto out from a CEX after putting your fiat in, and then buy from a DEX.

Jpotter145

Which means they found evidence that you violated something FinCEN monitors. The fact they CAN'T disclose tells you everything you need to know. Your crypto came from flagged wallets, a sanctioned country, a known mixer, you used a VPN to hide your location, your KYC information was false, you picked up tainted crypto on a DEX, etc. etc. You probably have a good idea on what it is.....

zatrzaskzy

I don't think it is smart to start using VPN to trade privacy coins on a centralized exchange. It's better to start using DEX which supports privacy. KYC for a privacy coin already defiled the whole essence of privacy

KallistiOW

Our first live DEX is tapswap.cash, where the BCH Guru, BitCat Heroes, and Emerald DAO NFTs are traded. The Emerald DAO is interesting since it gives you a "keycard NFT" that lets you access the funds you lock up + a little extra after May 15, 2024 if you burn the NFT, or you can keep it as a collectible. And BCH Guru is working on an on-chain prediction game that has something to do with their NFT collection. Very interesting and promising! More stuff is in the works. Unfortunately, since our community is small (but regrowing) and broke (hopefully our building can help the price!) progress is slow... but actually has been going a bit faster than expected, Tapswap came out just a few days after the upgrade :) Lots of stuff being built right now but we can't just copy/paste EVM stuff since we're breaking new ground with the UTXO model.

the_spiritual_eye

You can go down a couple of routes. Either you stake crypto, eg ETH, XRP, ADA, DOT, ATOM, etc within their native wallets for maximum return, or you can add your funds to a liquidity pool on a DEX. Couple of things to consider. Look at the lock up periods for staking and whether you want to buy in right now at this point in the market. With liquidity pools, you have to consider impermanent loss and trusting in a DEX. USDT sitting on your Ledger is not going to earn you anything in on itself. You can however stake your XRP with your Ledger, so your funds will be safer.

Diabolo_Advocato

When I say fee I don't mean cost to move. I mean cost per xrp when buying. On Uphold. The price was about .51$ but then I calculated the value at ~.52$ But when I bought on XUMM DEX, it was listed at ~.48$ but when I did the calculation, it came out to ~.502$. XUMM is about an extra .022$ per XRP while Uphold is about .011 extra per XRP. You look at the listed price, then you divide volume of xrp by the amount of money you spent will equal the total cost basis. The fee to transfer between platforms isn't part of my consideration for a cost basis.

Diabolo_Advocato

I've bought on uphold and directly from XUMM. Fees are a little higher on XUMM DEX, but it went straight to my wallet. Bought on Uphold, will be several days before I can transfer off their app but it's a long hold so I'm not concerned about time lines, I can also create trades on uphold still if I need to sell quickly

CointestMod

#DEX Con-Arguments Below is a DEX con-argument written by Shippior. > Not friendly for beginners. The use of a Decentralized exchange (DEX) requires not only intensive knowledge of how blockchains work (in the end they do not have customer support to help you with a transaction that is stuck) to make sure that the DEX they use is indeed a real DEX and not a scam (legitimicy) but it is also required to have intensive market price knowledge to make sure that the trade is fair. > > As transactions are not performed by a central authority but are operated by the blockchain the transactions are naturally less fast in a DEX than in a Centralized exchange (CEX). > > Liquidity pools and automate market makers are two of the methods most often used by DEXs. Liquidity pools are easy to use but have to major drawbacks. > > Although liquidity pool DEX are the most widely used, they may have some drawbacks. The most common problems of liquidity pool DEXes are price slippage and front running. > > Price slippage occurs because of the AMM (Automated Market Makers) nature itself — the larger the deal, the stronger impact it has on the price. For example, if the constant product AMM is in use, every deal must keep the product xy = k constant, where x and y are quantities of two cryptocurrencies (or tokens) in the pool. So the larger is the input amount Δx, the lower is the final ratio y / x that gives an exchange price. The problem is mostly significant for large deals or small liquidity pools. > > Front running is a special type of attack in public blockchains when some participant (usually a miner) seeing an upcoming trading transaction puts his own transaction ahead (playing with a transaction fee for example), making the initial transaction less profitable or even reverted. > > With the large number of DEXs popping up the liquidity of a DEX also becomes an issue as the available liquidity will be spread out through more DEXs (scalability). This can result in low liquidity in a DEX which will result in worse trades for the user. This is not an issue for a CEX as they have the availability of all the funds that are located on the CEX whereas a DEX has no own funds. > > Also moving forward as a DEX is rather difficult (upgradeability). DEXs that do not have a central entity are forced to either implement governance to move forward, making the useage of a DEX even more complex, or be forced to not enhance and thereby losing their market share as CEXs and centralized DEXs improve. Or a DEX has a central identity to upgrade the platform and therefore the users lose some privacy. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

CointestMod

#DEX Pro-Arguments Below is a DEX pro-argument written by mic_droo. > Disclaimer: I am reusing (and adapting) my arguments from the last round that I deleted by accident but can be found [here](https://web.archive.org/web/20211121141044/https://old.reddit.com/r/CryptoCurrency/comments/pfornf/rcc_cointest_general_concepts_dex_proarguments/hlidu9v/). > > While I think DEXes might not be ideal for beginners, for more experienced crypto users, however, they have a few big advantages over centralized exchanges: > > * on a DEX, you can stay much more **private**. Most centralized exchanges have some sort of KYC procedure and first want to see your ID, some sort of confirmation of your residence, your mother's name and the name of the pet you had as a kid. With a DEX, you can remain completely anonymous. > * you have **full control over your coins**. Sure, if you immediately transfer them out (for a, somewhat very high, fee) from a CEX you usually do as well, but a DEX will never block your account (because you don't have one) for any reason. It also doesn't matter to you if the exchange gets hacked, you are your own bank and hold all your coins in your personal wallet. > * if you already have crypto in a fitting wallet, exchanging it is a **much quicker and easier process** than at a centralized exchange: no need to register, no waiting for your KYC to be confirmed, you just connect your wallet and start trading > * you have access to many **more tokens** and can buy **newly created tokens long before they hit centralized exchanges**. CEXes have different vetting procedures in place when deciding which coins and tokens to list and usually that process takes a while – so even promising cryptos won’t get listed immediately. For example, the smallest coins on Coinbase right now have a market cap of about 200 million USD – which is by no means a huge crypto, but far from a “micro cap”. On DEXes you can find those tokens with tiny market caps that could, if you pick a good one and are extremely lucky, go x10,000 > * depending on the blockchain and the volume you're trading, it might also be **cheaper** to use. Fees on networks such as BSC and MATIC are cheap and don't increase with volume, so you could buy thousands of dollars worth of a coin for cents. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum) * Related subreddits: r/DEX, r/DeFi, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/140qic4/cfxnweth_realtime_onchain_dex_data/?sort=controversial). Doesn't work on mobile.

CointestMod

DEX {{pros}} & {{cons}} with related info are in the collapsed comments below.

TakingChances01

It’s these centralized parties and proprietary close source softwares that always get us in this mess. Just leave behind everything closed source and centralized. Buy your coins p2p and do your exchanges on DEX’s.

GoodmanSimon

Everyone is different but that's the way I do it. For my day trading, I keep my money between DEX/CEX and hot wallets. It is all short term and all considered a loss by definition. For my long term holdings, I use a cold wallet. In fact I use more than one. Thanks to latest events I am considering having different brands as well. If I want to trade in my long term holdings I prefer to trade out of my cold wallet into my hot wallets. Silly, I know, but it is an old habit. In dollars terms, I never want to have more than 10% outside of one of my cold wallets.

Fuglypump

OSMO- First off LUNA crashed and UST was the only stablecoin in the Cosmos ecosystem at the time, LP was locked for 14 days and it was drained as there wasn't any features in place to mitigate the losses from such an event. But that is not the only issue, the token is inflating heavily because the community pool is far too massive and keeps being used for incentives in such a way that it has become more like a farm token than a DEX token. If you are a founder of some project you can convince Osmosis to use some OSMO from their community pool to match the external incentives that you gave to a liquidity pair using the community pool of your own project. Then you can take your founder's bag and farm both token incentives to dump them for ATOM or USDC. The DEX itself is fantastic but I regret speculating on its token, I should have put all of that money into ATOM instead.

mbdtf95

This is why any mass adoption in near future seems impossible. There is so many don'ts in regards to crypto safety. Don't have your money on CEX a lot of them fail or go bankrupt, don't stake on DEX they are unsafe, don't use hot wallets they are not keeping your funds safe. There are even concerns with hardware wallets like Ledger nowadays.

Salt-Pomegranate-840

If AW really hacked, Trust Wallet could be next. Both wallets have a similar structure. One passphrase to all in-wallet assets. In Wallet swap service directly sync and worst, DEX like Uniswap or 1 inch etc, keep the last login wallet information in cache, potential hole.

BirbDefi

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Future-Tomorrow

>Do you feel like this will have a massively negative impact on crypto in general? No, because there are DEX and DEFI compromises literally every 1-2 weeks now, and some have been major. The most recent was Tornado, which also exposed that some other platforms had the same issue and are being addressed. the trend appears to follow what we've seen since 2013 in terms of the world's largest data breaches and hacks. Meaning, as crypto has become more mainstream, breaches, phishing, and scam attacks/attempts are more frequent and larger in scope. Refer to this chart [https://informationisbeautiful.net/visualizations/worlds-biggest-data-breaches-hacks/#bysensitivity](https://informationisbeautiful.net/visualizations/worlds-biggest-data-breaches-hacks/#bysensitivity) Despite the breaches and hacks in crypto, it has not had that much of a negative impact on perception and overall price action based on my "loose" qualitative and quantitative analysis.

TRR462

My answer was only relevant to the 2 posts above it, not OG’s main post. Sending a small test transaction helps to ensure your funds are going to the right place before risking larger amounts. This is the current reality of crypto transactions. Maybe someday soon an exchange (DEX or CEX) can add error checking to make sure funds are going to a valid wallet of the proper type (supporting the coin/token you are sending) and the wallet is also owned by the intended recipient (verified by 2FA or another method) before you hit the SEND button…

diomediocre

Thorchain is gonna be soft launching a lending platform. I like the project/L1 DEX itself but the lending platform itself seems very shakily designed. I don't think it can handle extreme events like we've seen happen in crypto if it rolls this out to a sizable debt position. DYOR obviously.

mbdtf95

Yep, it feels like every single month there is either a huge hack of some popular wallet, a bankruptcy or hack of some big CEX or DEX etc...

Lobsters_Are_Ugly

It's designed say liquidation occurs before you get to the end of your collateral. Of prices fall fast enough and liquidity is really thin you could in theory end up with a negative balance. Each exchange would handle this differently. If you're not trading massive amounts this is very unlikely. Alternatives are DEX based leverage trading, these will just leave you with $0

coinfeeds-bot

tldr; Cardano's DeFi ecosystem has reached a yearly high with a total value locked (TVL) of $180 million, according to DeFillama data. The TVL has been consistently increasing since the start of the year when it was around $50 million. The rising TVL has coincided with a rising DEX volume, with Cardano recording its highest weekly transaction volume during the last three weeks of May. MinSwap is the largest Cardano DeFi protocol with a TVL of $65.87 million, while the collateralized debt protocol, Indigo, saw its TVL grow by 15.95% in the last seven days. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

OurNumber4

It was one of the first chains to have a working DEX back then and the Whoppercoin partnership with Burger King. Was ahead of its time but never went anywhere.

wildmanfree

Which DEX?

Rivfrogg

Indeed, thats why every other day we see people falling for airdrops and phishing sites, especially DEX related.

3utt5lut

Have yet to see an CEX that let's you connect your wallet? (Like a DEX does) That's where your funds obviously going, but they can't leverage or collateralize your assets if they let you keep the keys to your own crypto.

CointestMod

#Binance Coin Pro-Arguments Below is a Binance Coin pro-argument written by dexe678. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

amusingjapester23

Would you care to recommend a DEX for this purpose?

_dogsinspace_

So much self custody FUD. CEX is for price manipulation, only find true price discovery with DEX

n1t3str1ke

Yah I spend more time trading than I do on Reddit. LOL I find it hilarious you judge someone's "credentials" by their Reddit status. Thanks for the laugh. And FYI Minswap is a DEX on Cardano. Thanks for showing us you know nothing.

zesushv

Since we are on this topic, this a good time to remind you "not your phrase, not your asset". That is what Gate is literally saying, the moment you send your crypto over to them, it is in their custody. It is no longer yours. This is the practices of every cex whether they make it publicly known or not. They can trade with your crypto, stake it, invest it in pepe without your knowledge or worse, tell you they can't find it anymore because they gambled it away. If you must trade, look for a suitable DEX/DeFi platform to conduct your business via. And as [DEX](https://np.reddit.com/r/zetablockchain/comments/1376kop/defi_amm_platform_towerdefi_now_supports_twstzeta/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)/DeFi features advance, and the advantages of CEX get developed or deployed on DEX, it is only a matter of time before these cex are forced to fix up or go home.

Apprehensive_Try7137

You’re paying for convenience. Also, exactly how are you going to onboard your fiat in order to get your crypto in the first place. At every stage of the game, some level of trust is involved. You have to trust the code is correct and will work as intended; you have to trust that the devs won’t rug-pull you (unless for either you’re going to actually put the time in to learn coding and verify it yourself, otherwise you’re trusting the reviewers of the code; you have to trust that even with all that legalese, your CEX isn’t gonna fuck you or lend out your funds or whatever. It just blows my mind all these people who rail against CEX’s but will just blindly use DEX’s bc some chucklefuck on the internet said it was safe or bc “everyone else uses it and nothing bad has happened”…….yet.

Concept-Plastic

XMR will lead on the privacy front, just buy it from DEX ffs people

Qptimised

The beauty of crypto is that you have a choice. You want to go DEX and monero and no one can track your transactions? You got it. You want to go CEX and have peace of mind (relatively)? You got it.

Butterflychunks

Gotcha, I’ll check that out and maybe a couple of these other options. Been recommended to check out a DEX as well as try out Kraken

Butterflychunks

Any good DEX recommendations?

Florian995

Leave a CEX behind and go to a DEX

Buggy3D

I personally never had an issue using them. Their Customer support was always fast to resolve any questions I had and I actually made a lot of money with them over the years. Historically, they also survived multiple booms and busts with little effect on their usability. But I was well aware there was always a risk using them, hence why I always limited the funds I had with them. I still hold the same principle with the DEX I’m using right now.

rootpl

DEX is the way, also it's easier to not pay taxes while using DEX lol.

coinfeeds-bot

tldr; Crypto investors lost over $54 million to scams and rugpulls in May 2023, according to a report by security firm De.Fi. The BNB Chain ecosystem accounted for the majority of the incidents, with losses above $37 million across ten cases. Rug pulls remained the most prevalent, accounting for twelve cases and losses totaling $37 million. Governance tokens were the most commonly targeted category, with 19 cases reported and losses totaling $3.3 million. Decentralized exchanges (DEX) were targeted in three cases, resulting in losses of $4 million. Stablecoins recorded the highest amount lost, reaching $6.2 million in a single case. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Every_Hunt_160

Redditors really stepping up to help web3 mass adoption where Reddit is lacking Even for moons, it would be so much less accessible if we didn’t have sites like ccmoons. I believe the earlier DEX before Sushi (RCPSwap) was also made by a Redditor..

Positron49

They aren’t that much easier than some of the defi already available, such as L2 AMMs found on Loopring. Now that zkEVMs are going live, the “ease of use” will not be a selling point for CEXs. I always get confused by how people think crypto will have large valuations but the blockchain won’t be usable to exchange, requiring a CEX to perform any useful function. If that’s the case, then the blockchain shouldn’t be worth much. In a few years, DEXs will make up a majority of ETH volume and CEXs would simply be liquidity participants in the DEX, however, all their liquidity arbitrage is from their user assets, so less users means they won’t be as big anyway.

DerpJungler

My heart rate goes up every time I've used a DEX or a bridge or anything DeFi related. I can empathize with those who abstain

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/13y7qrn/whats_holding_back_defi_and_keeping_the_masses/?sort=controversial). Doesn't work on mobile.

curakinkunda

He is also behind the recently released Dave token. Can't make this up. Everything he puts out tanks and MFs jump right on board his next project. Apparently he's working on a DEX with bitboy also. It will all come together somehow. 😂 Someone get coffezilla on this ASAP.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/13y53be/losses_from_crypto_rug_pulls_outpaced_defi/?sort=controversial). Doesn't work on mobile.

Podsly

Hydra has only been on mainnet for a couple weeks? Also, many people misunderstand Hydra. It was never supposed to scale Cardano for all applications. I.e It's pretty useless for DEX's unless your one DEX or another application wanting to connect to it to perform micro transactions. Hydra Heads will only be useful for particular applications where users make many payments between themselves. The often quoted example is a game of poker. Hydra Tails is also in development - not much has been shared on it.

CointestMod

#DeFi Con-Arguments Below is a DeFi con-argument written by TheTrueBlueTJ. > First published: [Here](https://www.reddit.com/r/CointestOfficial/comments/t5mmuj/general_concepts_defi_conarguments_march_2022/i9bo6f3/) > > # Intro > > I would now like to give my con arguments against using or engaging in decentralized finance (DeFi). Disclaimer: Primarily related to moons and closely related tokens, I have engaged with the DeFi ecosystem, such as with DEXes like Pancakeswap or testing out RCPSwap on the actual Reddit Arbitrum Testnet. [This comment](https://www.reddit.com/r/CointestOfficial/comments/t5mmtn/general_concepts_defi_proarguments_march_2022/) outlines my mostly positive view on DeFi. However, it also mentions something that DeFi is prone to: malicious bots. > > # Arguments > > **Sandwich attacks**: As explained in [this medium article](https://medium.com/coinmonks/defi-sandwich-attack-explain-776f6f43b2fd), sandwich attacks are a way for some malicious person to essentially front-run a user's transaction on a DEX (decentralized exchange). I have personally made the awful experience of dealing with such bots that continually monitor trading pairs on DEXes with low liquidity and prey on users making a trade that they consider valuable enough to be over a threshold to act on. Me and another user have also done some in-depth experimentation on that specific bot on Pancakeswap and come to the conclusion that they essentially never lose money, since they watch the mempool and can outbid any transaction that would cause them to be at a loss and simply pull out their "investment". The only way for them to lose money is to bait them into buying by buying yourself and being saved by slippage protection. Then waiting until they pull out after nothing happens for an hour. They would pretty much just lose the trading and transaction fees they paid. > > I think that sandwich attacks are a very bad thing for DeFi in the sense that they kind of gridlock smaller token trading pairs into discouraging users to buy. Because larger buyers notice that they are getting front-run every time, causing frustration. This essentially kills liquidity for a particular trading pair, while raking in good money from users who do not use slippage protection. Due to the nature of DeFi with emphasis on the decentralized part, nobody can really do anything against this, other than maybe validators blacklisting the addresses performing this attack. I feel like this is negative for DeFi in general and something to look out for. > > # Conclusion > > This argument kind of underlines the hypothesis that DeFi can be a wild west sometimes. Although this is what decentralization is about, these types of attacks should be mitigated or prevented somehow. Someone watching the mempool has a huge advantage over anyone else. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/13xzz92/giddy_partners_with_bitrefill_to_bring_defi_yield/?sort=controversial). Doesn't work on mobile.

MayorAnthonyWeiner

So what’s DEX volume looking like ?

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/13xy2js/the_defi_landscape_is_evolving_with_orbs_new/?sort=controversial). Doesn't work on mobile.

Osimkins

Oof no good. Check out [BitSwapNow.com](https://BitSwapNow.com) its an instant cross chain swap exchange with no sign ups. Its also non-custodial and built off of DEX liquidity so your funds are your funds.

gr8ful4

CEX are drying up. DEX (bisq) and P2P (localmonero/agoradesk) are constantly on the rise.

mvanvoorden

Batching was intended from the start, it's not papering over the cracks, it's how it's designed. Batching will eventually become a decentralized layer, afaik Spectrum has been working on this which will work with their upcoming DEX. Batching is a great way to scale exponentially as volume grows, and the (e)UTXO model lends itself perfectly to it.

Corp-Por

Decred has fallen quite a lot, it's not even in the top 100 anymore. It is the true DAO, one of the original DAOs, with "coin voting" it allows stakeholders to direct the project and add any features desired. So far, Privacy has been added (coinshuffle++), a true atomic swap p2p DEX (that facilitates even atomic swaps between NATIVE bitcoin and stablecoins), and Bison Relay which is a decentralized social media / with MARKETS built in (could it be the next Silk Road?), it has LIGHTNING network built in, it is super easy to tip people there, it is kinda like what Elon Musk is building with his "EverythingApp" but a cypherpunk version of it (still in beta, but you can test it) Decred was build by OG Bitcoin devs and is silently building a whole ecosystem which is fully decentralized and antifragile. The amount of tech consistently delivered by the project is really top notch. But it's a project that builds quietly and doesn't hype its releases

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

eat-sleep-rave

Once we got more crypto off-ramps (to fiat currency) CEX will become more irrelevant. I mean, even right now you can all sorts of traded on perpetual DEX that in the past you could only perform on CEXs

Iventuz

What's your fav DEX for exchanging

Whole_Visible

Along with the other guys listed, there's Tezos, Algorand, Avalanche, Solana, Flow, Aptos, Vite, Stellar. Only really Ethereum + LV2s and BSC have much of a lively DeFi scene but having used like a dozen chains at this point, Cardano is pretty expensive for DEX transactions compared to like Tezos, Algorand, Soland because of batcher fees. 2 ADA batcher fee is currently about $0.70 US which is higher than what I remember on BSC. A little higher than most ETH LVL2 currently https://l2fees.info/ That along with the smart contract collateral mechanism also makes it more difficult to use for users trying to be active but in countries of low income.