As the popularity of cryptocurrencies grows, the competition between blockchains becomes more intense. New blockchain projects are gaining momentum, and the current situation in the digital finance market is very different from what it was just a few years ago. To prevent the entire digital finance ecosystem from becoming a set of isolated blockchains, the idea of cryptocurrency bridges has been introduced.
Why Cryptocurrency Bridges Are More Effective than Cryptocurrency Exchanges
- Since the technical parameters of various blockchains are incompatible, and they work on different algorithms, the same exchange cannot work on several blockchains at once.
- Decentralized exchanges also do not make it possible to transfer the native crypto of one blockchain to another blockchain. All the exchanges are carried out within the same network.
- Therefore, the bridges become the only option for currency exchange in the field of decentralized finance.
Why Not to Use Centralized Cryptocurrency Exchange
- You can easily exchange crypto on a CEX. But in this case, the entire procedure is conducted outside the blockchain framework.
- Moreover, transactions on a CEX require verification of users, which undermines the basic postulates of numerous cryptocurrency projects.
- Trading on a centralized exchange involves the involvement of intermediaries, which increases transaction costs.
Therefore, despite the fact that it is technically possible to exchange crypto on exchanges, all the related issues indicate that it is much more convenient, cheaper, and safer to do this using cryptocurrency bridges.
Manage Your Crypto Assets with DeCommas Aggregator
DeCommas provides crypto traders with comprehensive information and all necessary tools for successful trading. Cryptocurrency bridges are the most demanded among multi-chain tools. DeCommas offers you the opportunity to enter any of the most popular bridges from a single page.
Use the most convenient DeCommas interface for fast and efficient exchange of cryptocurrencies through the best bridges!
