Several crypto exchanges are rising, and recently many cryptocurrencies are coming up, and in boom. To trade their cryptos, users can find two sorts of exchanges: centralized exchange and decentralized exchanges.
Centralized exchanges (CEX) are platforms that allow customers to buy and sell cryptocurrencies with the help of intermediaries who typically act as custodians, holding and securing your money. Eg: Binance, Huobi Global, Coinbase, Kraken, and so on.
Decentralized exchanges (DEX) on the other hand, are a type of cryptocurrency exchange that allow for better and more secure online peer-to-peer cryptocurrency transactions without intermediaries. Eg: XcelSwap, PancakeSwap, BakerySwap, and so on.
However, people prefer a decentralized exchange rather than a centralized one because of specific reasons, such as
Low transaction fees
The transaction rate is 0.2-1% per transaction, which is lower than that of CEX. The transaction cost for DEX is lower than that of CEX because of the lack of involvement of intermediaries, due to which additional fee is absent in DEX.
Lower counterparty risk
Many centralized exchanges have been hacked in the past, leaving consumers out of pocket. It is not an issue with a decentralized exchange since cryptocurrency trades are conducted directly between people via an automated procedure without the involvement of middleman organizations.
With DEX, people don't need to provide information to third parties, and there is no need for KYC for registration, keeping your information private.
With DEX, people from anywhere can use every part of DEX, creating a fair and inclusive ecosystem, whereas CEX has few restrictions for using their services.
Meanwhile, XcelLab has created XcelSwap, a decentralized exchange based on Binance smart chain to suit people’s preferences and prioritize their primary aim for a secure and decentralized exchange and cryptocurrency ecosystem.
XcelSwap can be a better option for you because of various reasons:
Built on Binance smart chain
XcelSwap is a next-generation decentralized exchange built on BSC that allows users peer-to-peer trading without the involvement of a third party, at a faster transaction rate.
Automatic Market Maker
It is an automatic market maker that underpins all decentralized exchanges, allowing users to trade crypto assets without permission by utilizing a liquidity pool automatically.
Because an XcelSwap is non-custodial, users may store assets in their preferred wallets and exchange tokens in whatever volume they want.
Cheaper transaction fee:
Since XcelSwap is decentralized, the absence of the middle person makes transaction fees lower by eliminating the additional cost.
Users' benefits of using XcelSwap.
Users can gain a lot from utilizing XcelSwap because it offers a variety of earning alternatives, some of which are listed below:
Users can engage in Staking by locking their token for a certain period. The longer a user stakes, the more reward a user gets.
While, 30 days is the mandatory lock-in period for staking. The full maturity date is 60 days. The rewards on staking are 30% APY reward for early withdrawal and 100% APY for full maturity. For example, if a user stakes for 30 days and receives $200. A user that staked for 60 days will get a $250 yield. It makes XcelSwap rewards more exciting and significant.
With XcelSwap, users can contribute to various farming pools by providing liquidity. To take part in XcelSwap farming pools, users will be required to provide liquidity to a specific pair Eg: XLD-ETH. The more a user deposits, the greater their share of the total rewards.
Above all, every XcelSwap transaction is safe, tamper-proof, and unchangeable. XcelSwap is built on Binance Smart Chain, making it a trustworthy and decentralized platform.
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