CryptoBlog n.799

Citi Says Decentralized Crypto Exchanges Are Gaining Market Share From Centralized Peers Decentralized cryptocurrency exchanges (DEXs) have grown faster than centralized exchanges (CEXs) over the past two years, Citigroup (C) said in a research report Thursday. The gap is likely to widen as users move away from centralized platforms to avoid their more onerous know-your-customer procedures. DEXs are blockchain-based apps that coordinate large-scale trading of digital assets between many users by using automated algorithms, instead of the traditional approach of acting as a financial intermediary between buyers and sellers. DEXs offer distributed revenue, like dividends, to token holders and the ability to self-custody funds, the report said. Once the trading rewards are included, these exchanges have comparatively lower fees than platforms such as Coinbase Pro, Citi added.