Review on Binance DEX by Saparov Meylis

Hello friends!

Binance DEX is a decentralized cryptocurrency exchange from the Binance team, built on the Binance Chain blockchain. The developers claim that it will combine the advantages of conventional Binance (high turnover, fast execution) and the advantages of a decentralized approach.

In terms of trading opportunities, they offer the same thing as on the Binance exchange. The bonus is a quick listing of new tokens, in June IDO (Initial DEX Offering) Ravencoin was successfully passed, then the coin immediately became available for trading on Binance DEX.

Don't confuse Binance Chain and DEX. The first is its own Binance blockchain, developed by the crypto exchange team with the help of the crypto community. The second is a trading module running on top of this blockchain. All trading operations are recorded in it and can be checked.



It is possible to trade from a personal mobile wallet Trust Wallet.



Key elements are located in the same way as on Binance:



* left part - a window with an asset selection. For now

Fewer crypto pairs are supported compared to Binance;

* lower left corner - a window with information on the history of trading

and a list of open orders;

* lower right corner - window with setting the parameters of limit

orders;

* upper right part - order book;

* the chart from Trading View is used, which means that the trader

will not lack analytical tools.



The terminal automatically connects to the node corresponding to your region - Accelerator1 (European region), Accelerator 2 (Asia and Pacific regions), Accelerator 3 (Atlantic region). You can reconnect to another node manually.



The order placed by the trader gets into the block within 1-3 seconds. If there is a counter order of the same volume (or a combination of several of a smaller volume that can satisfy it), then a deal is closed in 1-3 seconds.

There are no comments on the work of the platform, but so far there is a lack of crypto pairs. On the other hand, there are exotic coins here, but you can still trade ordinary crypto on Binance.



Through explorer you can track:



* general balance of currencies on DEX;

* information on orders. The block indicates the type of order, its

volume, direction and price at which it was supposed

execution of the order and its ID code.

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