Could Bitget Swap find the right balance between CEFI and DEFi?

[Incarts]

One of the main reasons cryptocurrency is receiving a wide adoption is its efficiency in promoting decentralisation, this is actualized by eliminating the activities of central authorities like bank, government and other financial entities; a sharp contrast to fiat currency which is under the total control of government.

Cyptocurrencies are traded on crypto exchanges, interestingly most of them operate as CeFi platforms. CeFi (Centralized Finance) functions like banks since it adopts a central authority similar to banks, which to an extent goes contrary to crypto primary goal of promoting decentralisation.

To address the few limitations of CeFi, DeFi (Decentralized Finance) was introduced with the concept taking a different style to crypto trading. DeFi is devoid of centralized authority that holds custody over participants’ assets. Instead, individuals get to hold absolute custody over their assets and private keys.

Although both concepts have their strengths, they still have their limitations. This has encouraged Bitget devs to focus on finding the right balance. To that effect, Bitget swap has been launched with claims that it has the right mix of ingredients from CeFi and DeFi that will close the gap between both concepts.

Do you think Bitget Swap has what it takes to achieve this goal?

 

[collins124]

I often hear people expressing their dissatisfaction with CeFi and its deviation from the principles of decentralization. However, both CeFi and DeFi have their own set of advantages and disadvantages. I believe that the initiative taken by Bitget to merge both CeFi and DeFi is a smart move that can bring about a lot of benefits.

 

[BashirJasper]

Haha! Are you just learning about bitget swap? I've used it a couple of times. I'm a pro-DeFi and I like trying out new DeFi products as I've been already into Nemoswap and NFT minting on some other wallets

 

[Isi24]

Haha! Are you just learning about bitget swap? I've used it a couple of times. I'm a pro-DeFi and I like trying out new DeFi products as I've been already into Nemoswap and NFT minting on some other wallets

I’m a new user of the platform and I believe this is a good initiative

 

[ImamShaheb]

Haha! Are you just learning about bitget swap? I've used it a couple of times. I'm a pro-DeFi and I like trying out new DeFi products as I've been already into Nemoswap and NFT minting on some other wallets

Experienced 💞.

BitgetSwap's name was Megaswap! Haven't used nemoswap ever but used Pancake/Uniswap/SushiSwap/BakerySwap.... & some wallet's in built swap,most of them provides almost the same experience. But BitgeSwap is kinda special for it's extra security!

 

[ImamShaheb]

I often hear people expressing their dissatisfaction with CeFi and its deviation from the principles of decentralization. However, both CeFi and DeFi have their own set of advantages and disadvantages. I believe that the initiative taken by Bitget to merge both CeFi and DeFi is a smart move that can bring about a lot of benefits.

& one of those benefits are, low transaction fees for CeFi & higher security for DeFi since it's an inbuilt feature of Bitget!