Cryptocurrency Q&A
Is Coinbase a DeX?
Is Coinbase a DeX?
isabella_cole_psychologist
Fri Sep 20 2024
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6 answers
1430
Excuse me, could you please clarify if Coinbase is indeed a decentralized exchange, or DeX, for short? From my understanding, decentralized exchanges operate without a central authority, allowing for direct peer-to-peer trading of digital assets. However, Coinbase, as I'm aware, functions as a centralized platform, facilitating transactions through a trusted intermediary. I'm curious to hear your thoughts on this matter, as I'm seeking clarity on the distinction between Coinbase and DeXs.
6 answers
SolitudeNebula
Sun Sep 22 2024
This unique approach ensures that users can engage in peer-to-peer trading without relying on intermediaries or centralized authorities.
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Federico
Sun Sep 22 2024
The lack of support for fiat-to-crypto trading in DEXs underscores their commitment to promoting a more decentralized and autonomous financial ecosystem.
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ZenFlow
Sun Sep 22 2024
In contrast, centralized exchanges like Coinbase offer a more traditional trading experience, enabling users to buy and sell cryptocurrencies using fiat currencies.
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Stefano
Sun Sep 22 2024
Decentralized exchanges (DEXs) operate fundamentally different from centralized exchanges such as Coinbase. A defining characteristic of DEXs is their inability to facilitate transactions between fiat currencies and cryptocurrencies.
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CryptoNinja
Sun Sep 22 2024
The core focus of DEXs lies in facilitating the direct exchange of one cryptocurrency token for another, without the involvement of traditional currencies like dollars or euros.
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