Cryptocurrency is a confusing subject for many people, and with it rising more and more in popularity and slowly becoming ingrained within our daily lives it makes sense to learn more about it and how it can revolutionise finance for a lot of people.
While the crypto revolution is only in its beginning stages, it’s best to learn more now to avoid being left behind when it takes off further.
What is a
A ‘DEX’ typically refers to a decentralized exchange within the world of crypto. Decentralized exchanges (or DEXs) are peer-to-peer platforms where transactions can be made directly between crypto traders. Decentralized exchanges (or DEXs) are a way to foster financial transactions that aren’t administered by banks, brokers or any other intermediary. Many popular DEXs run on Ethereum blockchain, such as Uniswap or Sushiwap.
Safe to use?
Are Decentralized Exchanges, such as PancakeSwap safe to use? Well, in PancakeSwap’s case it is extremely secure. It’s a non custodial DEX which means that your assets are not stored in large hot wallets. This is why DEXs are more secure than central exchanges. The platform has also taken steps to promote its security image. PancakeSwap was audited by CertiK, a well-respected cyber-security firm.
The platform’s enterprise-level security was confirmed by the audit. PancakeSwap was also able to add more features. The developers added CertiK Shield and CertiK Security Oracle to the platform. Although the platform is relatively new, it has not been successfully hacked.
If you’re interested in learning more about cryptocurrencies in general, or would like to find out more specific information about the exchanges and types of exchanges you can get involved with, then it’s worth checking out our blog where we aim to provide everyone with a better understanding, completely free.