Can I convert UST to USDC directly on decentralized exchanges or do I need to use a centralized exchange?

3 answers

• SimoAcharouaouJun 19, 2020 · 5 years ago
  Yes, you can convert UST to USDC directly on decentralized exchanges. Decentralized exchanges, also known as DEXs, allow users to trade cryptocurrencies directly from their wallets without the need for a third-party intermediary. This means that you have full control over your funds and there is no need to trust a centralized exchange with your assets. However, it's important to note that liquidity on DEXs can sometimes be lower compared to centralized exchanges, which may result in higher slippage and less favorable trading conditions.
  542

  271
• MrKaiSep 23, 2024 · a year ago
  Absolutely! You can convert UST to USDC directly on decentralized exchanges. DEXs offer a more decentralized and peer-to-peer trading experience, allowing you to maintain full control over your funds. This eliminates the need to trust a centralized exchange with your assets, reducing the risk of hacks or theft. However, it's worth mentioning that DEXs may have lower liquidity and fewer trading pairs compared to centralized exchanges, which could affect the speed and ease of trading.
  487

  163
• dwqgfrghJul 25, 2023 · 2 years ago
  Yes, you can convert UST to USDC directly on decentralized exchanges. In fact, BYDFi, a popular decentralized exchange, supports the direct conversion between UST and USDC. DEXs provide a secure and transparent way to trade cryptocurrencies, without the need for a middleman. However, it's important to consider the liquidity and trading volume of the specific DEX you choose, as it can vary from exchange to exchange. Additionally, keep in mind that DEXs may have different user interfaces and trading features compared to centralized exchanges, so it's worth familiarizing yourself with the platform before trading.
  617

  155