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hey bloomies if you've been wondering whether binance falls into the decentralized category you're in the right place today we're tackling a big question we get a lot is binance a decentralized exchange ready let's go all right here's the deal in the crypto World there are two main types of exchanges centralized CeX and decentralized Dex centralized exchanges or CS act as middlemen where a company runs the platform they're userfriendly with support and lots of liquidity but they control your private keys on the flip side decks are all about trading peer-to-peer no middlemen just you and the blockchain you keep your keys so it's private and secure but it can be trickier to use so where does binance fit into this binance is one of the biggest cxs out there founded in 2017 and it supports over 350 different cryptocurrencies it's super popular for altcoin trading and offers a bunch of features like trading fundraising and even launching new tokens through CEOs binance is set up to handle everything for you it manages your trades secures your funds and gives you access to lots of trading options trading on binance is pretty simple they match buy and sell orders for you so you don't have to worry about finding a trading partner think of it like traditional Finance but in the crypto world it's ideal if you're new to crypto or want an easy trading experience just remember since it's centralized you're trusting binance to keep your funds safe and secure so bloomies the answer is no binance isn't a DEX it's a centralized exchange with all the perks and limitations that come with that if you want more control and privacy a de might be more your Vibe but if you're after convenience and customer support CX like binance are pretty solid now if you found this helpful don't forget to hit like And subscribe to keep up with all things crypto on Bloom Academy catch you in the next one
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