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Binance Launches Decentralized Crypto Exchange in Testnet

By Emily Rys | February 23, 2019
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Binance Launches Decentralized Crypto Exchange in Testnet

This week, Binance cryptocurrency exchange has established the testnet of its new decentralized exchange, Binance DEX.

On December 2018, Binance has opened up about the releasing date of Binance DEX in a video. However, the exact date was confirmed by Changpeng Zhao, CEO of Binance this month.

Binance DEX aims at providing crypto holders a decentralized platform to trade tokens, excluding liability and security limitations which traditional and centralized platforms are carrying. Now, Binance users can create their own wallets and start trading on the Binance DEX testnet.

Binance’s Trust Wallet will be integrated with Binance DEX, along with the Ledger Nano S. According to the press release, more adaptable wallets will be added in the near future.

“Binance DEX is a decentralized exchange with a decentralized network of nodes, where you hold your own private keys and manage your own wallet. With Binance DEX, we provide a different balance of security, freedom, and ease-of-use, where you take more responsibility and are in more control of personal assets.” said Zhao, emphasizing the importance of users holding their own private keys.

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