You've at last decided to buy cryptocurrency! Perhaps you need to convert BNB to SGD. Despite the fact that nothing bad can really be said about this decision, you want to utilize an exchange. Be that as it may, with hundreds of trading platforms popping up to serve the growing crypto users, you might end up falling prey to scam issues, including lost funds and hacks.

The good news is you can protect yourself from such issues by exploiting a DEX trade exchange. All in all, what is a DEX, and why would it be a good idea for you to choose it over a centralized exchange? Keep reading to find out more!

Before we jump into the pros of a decentralized crypto exchange, it pays off to determine what you're dealing with in the first place. Unlike a centralized exchange that operates similarly to a bank, a DEX never assumes responsibility for your funds. In many instances, the critical operations happen on a blockchain.

Hence, users have control over their assets while at the same time benefiting from safer and more transparent trading. Remember, decentralized exchanges count on smart contracts to perform market transactions. Of course, the same applies when you need to convert BNB to SGD.

There is something else to utilizing a decentralized exchange Dex than you might think. For starters, it guarantees security like never before. Think of that time when somebody hacks a centralized exchange and steals crypto, yours included. Just thinking about it is reason to the point of sending chills down your spine.

That is what happens to most centralized exchanges as they hold a large amount of funds, making them more susceptible to hacking. Decentralized exchanges excel in this regard as they help mitigate hacking risk. Also, this is easy to see why since users never again need to transfer their assets to third parties.

Assuming you prefer trading new and obscure crypto that was initially difficult to get hold of, then, at that point, the DEX exchange is what you really want. As a rule, centralized exchanges just help well known cryptocurrencies restricting users to what they offer. That makes it almost difficult to trade less well known or more modest tokens. Instead of choosing to disregard as this occurs, think about doing the change to a DEX or a Decentralized Application (DApp) and trade different tokens.