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Author Topic: Different between Binance and Binance Dex.  (Read 207 times)
princerepon
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September 08, 2019, 10:37:33 PM
Last edit: September 11, 2019, 03:49:34 PM by princerepon
 #1

What is the different between Binance and Binance Dex..? Is Binance Dex an exchange platform like Binance or a lunchpad...?

What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.

Is possible to trade in Binance Dex like Binance..?



#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)



#Update 2:
1. Beside Binance is there any exchange start their own DEX like Binance DEX..?

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September 09, 2019, 12:05:56 AM
 #2

I didn't follow the development of binance dex, because it has a different system.
but even though I am not a binate dex user but only using binance I can distinguish it,
binance is centralization exchange,
whereas dex binance is a decentralized exchange,
the difference is if our binance has to make a deposit, whereas our binance dex does not need to make a deposit, because our wallet can be connected directly to binance dex, in other words using a cold wallet,
and this is actually safer than binance, because binance uses the hot wallet in the exchange, that's why it's easy to get hacker attacks.

 
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September 09, 2019, 03:09:08 AM
 #3

Binance DEX based on the Peer-to-Peer (P2P) protocol and allows users to exchange crypto assets directly between each other. The main advantage of Binance DEX is the matching system.
Binance Dex is still an exchange which is running under Binance. Launchpad is different with Binance Dex or normal exchange of Binance.

Is possible to trade in Binance Dex like Binance..?
Yes, but take note that not all pairs that available in normal exchange of Binance are available on Binance, there are just few pairs that are listed on Binance Dex as of now.
You can check it here: https://www.binance.org/en/

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September 09, 2019, 05:43:01 AM
 #4

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

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September 09, 2019, 06:05:12 AM
 #5

~snip~
What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.
In my opinion, this is a pair after the token has been exchanged for bep2.

~snip~
Is possible to trade in Binance Dex like Binance..?
yes, but you must first swapping from erc20 to bep2,
I try to use trust wallet app, at that time I wanted to try it when the token was registered at Binance Dex.
https://bitcointalk.org/index.php?topic=5173972.msg52364239#msg52364239

There you will know more https://t.me/BinanceDEXchange

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September 09, 2019, 07:21:27 AM
 #6

What is the different between Binance and Binance Dex..? Is Binance Dex an exchange platform like Binance or a lunchpad...?

What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.

Is possible to trade in Binance Dex like Binance..?
Binance DEX is different from Binance, the difference is focus and decentralization. At Binance, you will have to create an account and KYC if you want to withdraw a lot of money and will certainly be supported quickly when there is a problem.
For DEX, the transaction fee will be higher and there are big waves that can help traders trade more with higher profits without creating an account. Just key store or private key, you can start trading.

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September 09, 2019, 07:39:29 AM
 #7

What is the different between Binance and Binance Dex..? Is Binance Dex an exchange platform like Binance or a lunchpad...?

Binance is a centralized exchange where all our funds and wallets are managed on a platform while Binance DEX is a decentralized exchange where we can manage and hold our personal wallet. But I do not know more clearly about this DEX Binance because I have not tried it at all, it was just completed a few months ago, maybe like other decentralization exchanges like forkdelta or idex.

What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.

For the purpose of the pair in exchange is to measure the price of a coin against other coins. For example, pair USD/GBP where 1usd = 1.3GBP so the pair is to determine the price of the dollar against the pound sterling.

 
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September 09, 2019, 09:39:12 AM
 #8

I understand that Binance DEX is a decentralized platform for coins and tokens based on the principle of OTC trading.

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September 09, 2019, 04:05:37 PM
 #9

in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

That make sense actually. They are promoting their own coin BNB. I hope there is more than that but right now i'm going with that point. Thanks anyway share your thought.

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September 09, 2019, 04:15:13 PM
 #10

What is the different between Binance and Binance Dex..? Is Binance Dex an exchange platform like Binance or a lunchpad...?

What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.

Is possible to trade in Binance Dex like Binance..?

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)

Their differentiate was on Binance in my view of this things it is centralized based platform that has a KYC submission if you want to upgrade your account on Binance.com while on Binance Dex was under by Binance but not requiring KYC to all traders who it, just same goes with
Binance Jex, in short, it is decentralized based concept.
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September 09, 2019, 06:28:21 PM
 #11

There isn't much difference in the way they're been operated. The main Binance exchange is a centralized exchange were the exchange is in charge of your funds then the Binance DEX, is just a semi-centralized exchange with less permission to your funds disguised as a decentralized exchange. Although Binance claim the DEX is totally decentralized, their restriction of 20+ different countries from using their service says otherwise. A totally decentralized exchange shouldn't be able to restrict specific location from accessing their platform.

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September 10, 2019, 05:54:26 PM
 #12

I really like Binance and have been using this trading exchange for quite some time.  Moreover, I was convinced that token BNB is also a very promising and profitable investment.  But I still have questions regarding the status of a decentralized exchange for Binance.  I have repeatedly found in the media that the Binance team has stated that they have every opportunity to block user accounts, or to block their funds if someone is noticed in fraud or at the request of law enforcement agencies.  I have nothing against this, but what is decentralization here?

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September 10, 2019, 07:59:14 PM
 #13

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)
Never.
Binance main exchange wont be beaten up by its Dex.Try to differentiate their focus between the two.You will able to see on which one do get the most attention.  Grin

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.
Same inputs and thats the reason i lost up my interest when i do see it on first time. It isnt truly a dex one but an another platform thats used for hyping up their BNB even more.
Well, business as usual.

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September 10, 2019, 08:04:45 PM
 #14

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)
Never.
Binance main exchange wont be beaten up by its Dex.Try to differentiate their focus between the two.You will able to see on which one do get the most attention.  Grin

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.
Same inputs and thats the reason i lost up my interest when i do see it on first time. It isnt truly a dex one but an another platform thats used for hyping up their BNB even more.
Well, business as usual.
Are you saying that Binance Dex is no different from Binance, and that it is not a decentralized platform?

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September 10, 2019, 08:20:40 PM
 #15

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

Exactly, CZ is really ahead of the game and he knows how to play everyone in the ecosystem. They just masked around the buzzword of "DEX" because that's what people wanted to see from them. But from behind you will know that there is no decentralization and would be using their own BNB that could be used for pure manipulation, that includes themselves or some bad actors in cryptoverse. I don't know if we could admire CZ for doing this or if we can call him a genius for putting this up.

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September 11, 2019, 07:44:11 AM
 #16


#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)

No, because it's own by the same company, their only difference is the current popular one is a centralized exchange and Binance DEX is a decentralized exchange. According to the CEO of Binance, he once said IIRC that decentralized exchange is the future of exchange, so if Binance DEX will overtake Binance in terms of popularity, then it will still give benefits to the owner of the exchange which I said the same company.

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September 11, 2019, 03:46:07 PM
 #17


#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious  Cheesy Cheesy)

No, because it's own by the same company, their only difference is the current popular one is a centralized exchange and Binance DEX is a decentralized exchange. According to the CEO of Binance, he once said IIRC that decentralized exchange is the future of exchange, so if Binance DEX will overtake Binance in terms of popularity, then it will still give benefits to the owner of the exchange which I said the same company.

Of course i know that it's own by the same company and it will give benefits to the owner of the Binance exchange. I just try to said that, is it possible to beat Binance popularity in near future for Binance DEX?

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September 11, 2019, 04:25:57 PM
 #18

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

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September 11, 2019, 07:19:53 PM
 #19

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.
From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?

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September 11, 2019, 11:00:59 PM
 #20

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.
From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?
That's the nature of decentralized exchange, just like IDEX and Etherdelta (forkdelta), they are all trading only ETH tokens that runs in ETH network, and we called them decentralized because we can access the site without opening an account and complying with the KYC.

However, Binance DEX and IDEX if I'm not mistaken have already started to put some KYC requirement.
In Binance DEX, there are countries that are not allowed to use the platform, so it's not really decentralized.

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