There are many benefits to trading on a decentralized exchange as compared to a centralized exchange.
- Centralized exchanges (CEX’s) are custodial, which means they have custody of your coins when you make a deposit.
- Decentralized exchanges (DEX’s) are non-custodial, which means you never deposit funds onto the exchange and always retain full control of your funds. All transactions are processed on the blockchain between buyer and seller.
Here are the Top 7 benefits of using the Metamorph.Pro DEX.
- Control Of Your Funds Stays With You
First and foremost, you stay in control of your funds at all times.
2. Security from Theft
The cryptocurrency industry has an alarming number of exchanges that have been hacked or gone bust (e.g. Bitfinex, Coincheck, Bitgrail, MtGox) with millions of dollars worth of account holders money lost.
If Metamorph Pro was hacked or went bankrupt your funds would not be in jeopardy because we never have custody of any coins — they stay securely on the blockchain connected to your own private keys.
3. Low Exchange Fees
Decentralized trading using the 0x Protocol has very low fees as only the settlement (the trade itself) is executed on-chain. With Metamorph.Pro, your trade orders are managed off-chain by relayers who broadcast and intercept orders.
4. Higher Liquidity
Using the 0x protocol allows relayers to intercept orders stored on other relayers, thus increasing the volume available for trading as the network of participants grows.
5. Privacy & Identity Protection
A decentralized exchange allows you to remain anonymous when dealing with your crypto assets. There are no KYC or AML requirements to use the Metamorph.Pro platform. We do not store any personal data such as name, phone number or email address attached to transaction records which eliminates the risk of identity theft.
6. No Withdrawal Limits or Delays
Because we never have custody of your coins, there is nothing for you to withdraw and therefore no withdrawal limits. Most centralized exchanges impose limits and require KYC verification to increase limits which can add days to withdraw your funds.
This also means that your funds will never be unavailable — even if Metamorph.Pro undergoes maintenance updates, etc.
7. More Currency Trade Options
Centralized exchanges usually operate with a base currency such as BTC or Ethereum. This means to trade one token for another you first have to exchange into BTC or ETH, and then exchange again into the token you want. Direct token swaps through a DEX helps to reduce the amount of trades required where possible. This makes trading more efficient and reduces trade fees.
With Metamorph.Pro you remain in full control of your coins while keeping your privacy. Servers do not store assets which means 100% safe trading from peer-to-peer. Simply connect your wallet and you are ready to trade within moments. See: how to use the platform.