There are two types of crypto platforms: centralized and decentralized. Decentralized platforms are services allowing the swap of digital assets. No central body controls transactions, so DEX does not provide 100% safety. Funds move between users’ wallets and do not remain on a platform. Such exchanges are suitable for fast trade with small amounts of money, but it is unsafe to convert large sums on them. DEX often do not require user registration. Examples of such platforms are popular SuchiSwap and PancakeSwap.
Centralized platforms also allow to trade cryptocurrency, but offer a much more comprehensive range of tools applied by advanced traders. CEX allows users to deposit fiat money from their bank cards and convert fiat-crypto pairs. Such exchanges have a bank-like management form. There is a team that works on providing a high level of security for clients’ funds. For that purpose, CEX implements complex mechanisms for account protection.
What Exchange to Use to Trade Cryptocurrency in Different Modes?
We offer the WhiteBIT platform. It is a centralized exchange offering over 450 pairs with crypto and popular fiat currencies. Here are the trading modes on WhiteBIT:
1. Spot market – Buy crypto 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 – Using leverage to multiply your initial position.
4. p2p – Direct swaps between users on the crypto exchange.
In addition, WhiteBIT offers codes, DEX, and crypto lending. You will find top cryptocurrencies with up-to-date market prices, low fees of 0,10% and a high level of safety for clients.
Read the WhiteBIT blog to learn more about the platform’s features. It rolls out interesting articles on the crypto industry, useful guides on different trading strategies, overviews of new up-and-coming crypto projects, quizzes for the community, etc.
