Stepping into Web3/DeFi

Crypto can be traded in two major ways: centralized and decentralized means.

Centralized trading of crypto would mean you have to verify your identity, share bank related details, etc. to be able to trade cryptocurrencies and this is done through centralized exchanges (CEX). An example of a Centralized exchange (CEX) platform is Binance.

Decentralized trading of crypto doesn't require any personal details which are not shared anywhere and the trading itself would usually happen within a blockchain, hence it can’t be governed. An example of a decentralized exchange platform (DEX) is Uniswap (on Ethereum).

If you wish to dive into the world of Web3, we’ll be mainly dealing with the decentralized part.

We'll be discussing more on how trading works in the Trading page.

To better understand DeFi, here's an explanation video of how it works: