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Numerous benefits make NCEs an attractive alternative to both centralized and decentralized exchanges.
User controlFirst, users keep control of their own encrypted wallets, private keys and credit memos. Some platforms allow users to remain anonymous by not requiring documentation for account creation, while others require customers to perform KYC (Know Your Customer) verification.
Variety of crypto trading pairs: NCEs act primarily as aggregators of cryptocurrency trading pairs. They do not require users to deposit funds or cryptographic holdings and provide a wide range of exchange pairs.
security: By avoiding storing funds on an exchange, users do not have to worry about stealing or losing their crypto-currencies. In addition, most exchanges do not collect user identity information, which helps maintain anonymity.
Speed: Compared to decentralized exchanges, conversions and transactions between users are much faster. This is mainly due to their access to a wide range of centralized exchanges that have large volumes of trade and a wide variety of cryptocurrency.
Low costs: Trading costs are similar to those of conventional cryptocurrency exchanges. Since most stock exchanges charge a substantial fee for the withdrawal of funds and a user pays mining fees several times to transfer funds from a portfolio to a portfolio, it can sometimes be less expensive. use NCEs, especially since much less steps will need to be taken to convert crypto.
Friendly experience: NCEs provide users with an experience similar to that of the most popular centralized exchanges. This essentially creates a common ground where users can take advantage of applications and easy-to-use platforms while maintaining full control over their private keys and cryptographic resources.
The transactions are made on behalf of the user and the user receives the cryptocurrency directly into his own wallet. In addition, some of these NCEs have easy-to-use mobile apps, such as Changelly, which makes them more attractive to users who want to keep control of their private keys.
Shapeshift also recently announced support for hardware portfolios, allowing users to keep their crypto in a highly secure portfolio while still retaining the ability to quickly send and receive crypto on the platform.
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