Cryptocurrency exchanges and crypto wallets in the decentralized finance system Cover Image

Giełdy i portfele kryptowalut w systemie zdecentralizowanych finansów
Cryptocurrency exchanges and crypto wallets in the decentralized finance system

Author(s): Dorota Ciesielska-Maciągowska, Łukasz Spyra
Subject(s): Economy, Financial Markets
Published by: Szkoła Główna Handlowa w Warszawie
Keywords: blockchain; cryptocurrencies; cryptocurrency exchanges; CEX (centralized exchanges); DEX (decentralized exchanges); cryptocurrency wallets; DeFi (decentralized finance)

Summary/Abstract: The key challenge for investors is to understand the basic mechanisms enabling the effective management and allocation of digital assets. The development of cryptocurrencies initiated the crea-tion of a system of exchanges that act as intermediaries in the trading of digital assets and cryptocurrency wallets. Centralized cryptocur-rency exchanges act as an intermediary between buyers and sellers and raise money through commissions and transaction fees. In turn, a decentralized exchange allows you to conduct peer-to-peer transac-tions directly from your digital wallet, without the involvement of an intermediary. Cryptocurrency wallets enable storage, exchange, and active participation in and support of the blockchain network, i.e. token staking. Consequently, the aim of this article is to present the specifics of the system of cryptocurrency exchanges and currency wal-lets. The research method used in this article includes the analysis of scientific literature and research on cryptocurrencies.

  • Issue Year: 72/2024
  • Issue No: 2
  • Page Range: 6-16
  • Page Count: 11
  • Language: Polish
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