On Tuesday, April 23, Binance announced that its much-awaited decentralized exchange is now live. Here’s what we know so far about the Binance DEX.
Binance DEX Now Live
Today, Binance, a top crypto exchange, said that the Binance DEX is now live. Trading has not yet commenced, but users can create wallets on the new decentralized exchange (DEX).
Tuesday’s launch of Binance DEX is significant for more reasons than one. For starters, the exchange has gone live well ahead of schedule; and it comes one week after Binance Chain, its native blockchain, went live.
Second, according to CEO Changpeng Zhao, decentralized exchanges can “bring new hope and new possibilities.” On top of that, the “Binance DEX offers far more control over your own assets.” So, not only will the Binance DEX impact the crypto community, but it will also give Binance an edge up on competitors and a chance to further the crypto industry.
When Should We Expect Trading?
According to CoinDesk, trading on Binance DEX will start “as soon as tokens are issues and listed on Binance DEX.” Trading on the exchange has been put through a testnet period, but in addition to waiting for tokens to be issued and listed, trading has to wait for trading pairs to be created.
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Don’t worry, though; crypto traders won’t have to wait months to use the DEX. In fact, a representative for Binance has said they are expecting tokens to be issued and listed “in the next few days.”
Thoughts?
Considering the optimism surrounding the use of decentralized exchanges, it will be worth paying attention to Binance over the next few days to see if a date for trading to begin has been set. And if you’re a crypto trader, we want to know if you’re planning to use Binance DEX. If so, have you created your crypto wallet on the platform yet?
Let us know in the comments below!
Featured image: DepositPhotos © NadaK2
