What are the advantages of using a non-custodial exchange for trading cryptocurrencies?

3 answers

• Dec 26, 2021 · 3 years ago
  One of the advantages of using a non-custodial exchange for trading cryptocurrencies is the increased security it offers. Unlike custodial exchanges, where users have to trust the exchange to hold their funds, non-custodial exchanges allow users to retain control of their private keys. This means that even if the exchange gets hacked or goes offline, users' funds remain safe. Additionally, non-custodial exchanges often use decentralized technologies, such as smart contracts, which further enhance security and eliminate the risk of a single point of failure.
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• Dec 26, 2021 · 3 years ago
  Using a non-custodial exchange also provides users with more privacy. Custodial exchanges typically require users to provide personal information and go through a KYC (Know Your Customer) process. Non-custodial exchanges, on the other hand, allow users to trade cryptocurrencies without revealing their identity. This can be particularly appealing for those who value their privacy and want to maintain anonymity while trading.
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• Dec 26, 2021 · 3 years ago
  By using a non-custodial exchange, you have full control over your funds. You don't have to worry about the exchange freezing your account or imposing withdrawal limits. You can trade cryptocurrencies whenever you want and move your funds in and out of the exchange without any restrictions. This level of control is especially important for experienced traders who want to have full autonomy over their trading activities.
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