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FACTOR055
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The #MyEOSTrade challenge is now live, in partnership with @Vaulta_, with $5,000 in
EOS
rewards up for grabs!
Simply trade $20+ EOS on Binance and share it on Binance Square.
#BinanceSquare
#Write2Earn
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FACTOR055
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#CryptoSecurity101 Basics of Security in the World of Cryptocurrency Welcome to the world of cryptocurrency! Independence, anonymity, and control — that's cool. But with that comes responsibility. 📌 Below are the basic security rules that will help you keep your tokens safe. 🔐 1. Keep your private keys like the apple of your eye A private key is your only access to your wallet. If someone finds it out — your coins will disappear. 📍 Do not store keys in the cloud 📍 Do not screenshot, do not take pictures, do not send in messengers 📍 Use hardware wallets (e.g., Ledger, Trezor) for storage 📲 2. Two-factor authentication is a must-have Always enable 2FA (Google Authenticator, Authy). ❌ Do not use SMS codes — they are easy to intercept ✅ 2FA apps are much safer This follow doing your safe
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#CEXvsDEX101 The Difference Between Centralized and Decentralized Exchanges When talking about cryptocurrency trading, there are two main types of platforms: centralized exchanges (CEX) and decentralized exchanges (DEX). A centralized exchange like Binance or Coinbase is managed by a single entity that controls trading operations and holds funds. Users are required to create an account and verify their identity (KYC), which gives it a more organized and secure nature, but it places trust in a third party. On the other hand, decentralized exchanges like Uniswap and PancakeSwap operate without intermediaries, relying on smart contracts to enable users to trade directly from their own wallets, without the need to hand over assets to a third party. CEXs provide higher liquidity and faster execution, but they may be susceptible to hacks or freezing of funds. DEXs, on the other hand, give users full control over their money and privacy, but they may suffer from lack of liquidity or difficulty of use for beginners. Choosing a platform depends on the user's preferences between security, privacy, and ease of use. #CEXvsDEX101🔥
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#CEXvsDEX101 CEX vs DEX 101: Where to Trade Your Crypto? Choosing between a Centralized Exchange (CEX) and a Decentralized Exchange (DEX) is crucial for crypto traders. CEXs like Binance offer user-friendly interfaces, high liquidity, and fiat on-ramps, making them great for beginners. However, they are custodial, meaning you don't control your private keys, and require KYC/AML. DEXs like Uniswap prioritize self-custody and privacy (no KYC). You retain full control of your assets, but they can be less user-friendly, have lower liquidity for some tokens, and incur variable network (gas) fees. Ultimately, the best choice depends on your priorities: convenience and features (CEX) or control and privacy (DEX). Many traders utilize both! #CEXvsDEX101🔥
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