Widely considered to be the next frontier for cryptocurrencies, decentralized exchange (DEX) platforms allow cryptocurrency holders to easily trade their digital assets, without having to rely on a centralized mediator to do so.
For one, this is more in-line with the ethos of cryptocurrencies — removing power from centralized institutions, and allowing cryptocurrency owners to truly take control of their finances, without any intermediaries that might otherwise censor transactions, blacklist particular accounts or even seize funds.
Binance DEX is perhaps the most prominent DEX in 2019, and has received a great deal of attention since it is being launched by the makers of the world’s most popular cryptocurrency exchange platform — Binance.
However, a decentralized exchange platform is just one part of the puzzle. To be truly free of intermediaries, users must also maintain control over their private keys and properly secure their crypto assets using a cold storage device such as a Ledger Nano S hardware wallet.
Thankfully, like a match made in Heaven, the Ledger Nano S is compatible with the Binance DEX, allowing Ledger owners to securely trade their digital assets, without suffering any of the drawbacks associated with using centralized exchange platforms.
To get started with this tutorial you will need to have the Binance Chain app installed on your Ledger device. If you are not sure how to do this, check out our guide on installing new apps on your Ledger Nano S. To get more information visit #Binance Dex.
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