Decentralized exchanges do not require real-name verification. Sending ETH from a centralized exchange to a wallet incurs miner fees, and then connecting the wallet to the exchange allows you to long or short BTC, ETH. Decentralized exchanges are generally coin-based. If you want to convert it to a USDT-based system, you need to SWAP to USDT. Exchanging for USDT incurs a loss in the exchange.
Isn't the above process very troublesome? Yes, it is very troublesome, and the exchange incurs a loss of over 5%. If you want to avoid real-name verification, you can only use cash to find an underground dealer to convert USDT to your wallet. Who would go to a DEX to trade? The answer is that the profit pie of decentralized exchanges is money laundering. You know what I mean!
Everything in the world revolves around profit. There are no opportunities for sudden wealth in decentralized exchanges. So why should I participate, exchanging valuable ETH for garbage coins? This is the same logic as mining golden dogs on the chain. Remember when golden dogs like GOAT and PUNT exploded on the SOL chain? The WEB3 wallet incurs significant exchange losses and cannot place limit orders, yet retail investors rush to exchange SOL for garbage dogs, unable to place limit orders at all, still can't resist the retail frenzy for garbage dogs.
Centralized exchange BN is facing problems with Dogecoin exchanges. On the ALPHA startup board, you can directly buy using USDT without needing to transfer SOL or ETH, which would incur more than 5% loss. Transferring DOGE SOL out of the wallet also generates more than 5% loss. Buying large golden dogs incurs losses but is still acceptable; the issue is that there aren't that many golden dogs available. 99% are scams and garbage. You need to understand that this is just a trap. If you don't want to be scammed by dog traders, using the main chain SOL or BNB is the right approach, rather than chasing after rising dogs. This time, the explosion of BOB is the same; holding the main chain BNB is the right choice!
The BN startup board ALPHA addresses the pain points of retail investors. The loss when exchanging DOGE U on the ALPHA startup board is much smaller compared to transferring from the main chain SOL or BNB to a wallet. This can be seen as directly seizing the DOGE business from OKX, and with such a large loss, who would want to play on the OKX chain?
