Noncustodial Crypto Exchanges, Explained | Cointelegraph

There are a number of advantages that make NCEs an appealing alternative to both centralized and decentralized cryptocurrency exchanges.

User control: Firstly, users maintain control of their own crypto wallets, private keys and holdings. Some platforms allow users to remain anonymous by not requiring any documentation for account creation, others require customers to complete Know Your Customer (KYC) verification.

Variety of crypto trading pairs: NCEs essentially act as aggregators of cryptocurrency trading pairs. They do not require users to deposit funds or crypto holdings and provide a wide range of trading pairs.

Security: By not having to store funds on an exchange, users don’t need to worry about their cryptocurrencies being stolen or lost. Furthermore, most exchanges do not collect user identity information, which allows for the retention of anonymity.

Speed: In comparison to decentralized exchanges, NCE’s boast much faster conversions and trades for users. This is…