Binance-DEX and Binance

huba · August 25, 2020, 11:11am

Hi everybody.
I want to know the difference between Binance-DEX and Binance simple.

Brookz0000 · August 25, 2020, 11:47am

As i observe binance DEX can only trade on beb2 network while binance can trade on any network like ETH, ETC, BEB2, TRON and more token/coin that have there own network (mainnet)

Jesterhead · August 25, 2020, 11:56am

On dex, you are the owner of private keys and your assets, on Binance it’s stored by third party and centralised. Binance has more trading pairs, FIATs are available, kyc is required

anamulislam · August 25, 2020, 1:25pm

Simply I can say decentralised and centralised

Tymeless · August 25, 2020, 2:59pm

That’s a perfect but simple summary

CarlosARM · August 25, 2020, 3:18pm

Binance DEX (Decentralized Exchange)
In this you access your account with your private keys, hardware such as a nano or Trezor ledger, which gives you greater security.

Simple Binance. In other words, Binance controlled and centralized.

Chalon2020 · August 25, 2020, 4:37pm

The difference between Binance and Binance-Dex:

Binance is the Centralized Exchange.
You can trade, but all the coins will be held in a big pot and will not be necessarily moved from one account to another. To get access you will use email, password and 2FA. If a centralized Exchange has some troubles, you may loose your coins, since you are not the real owner and you have formally lended the coins to the Exchange to be able to trade them.

Binance DEX (Decentralized EXchange).
This is another exchange where you can trade, and coins will be moved from one account to the other. To get access you will have your Private Key and you will be the real owner of your coins. In a DEX, even the Exchange may close, you will not loose your coins.

huba · August 25, 2020, 9:51pm

I thank all you the information of each other. I understood now.

Cece · August 25, 2020, 10:06pm

New to binance. How can I navigate within the two kinds of Binance platforms?

Dcinti · August 25, 2020, 10:09pm

Great information here. A little more understanding

Ayodele123 · August 26, 2020, 8:46am

Does that means that DEX is better?

Davleo · August 26, 2020, 10:31am

Not all coins are listed on Binance dex, but many are on Binance, so Binance is better if you have coins not listed on Binance dex. And to access Binance dex, you must use wallet that use the network such as Trust wallet.