Out of the Top 5 cryptocurrency only 2 of them are decentralized

ByWealth Diagram

Out of the Top 5 cryptocurrency only 2 of them are decentralized.

  • Bitcoin (BTC) – decentralized
  • Ethereum (ETH) – decentralized
  • Binance Coin (BNB) – centralized
  • Tether (USDT) – centralized
  • Solana (SOL) – centralized

Decentralized, you hold your own crypto and you do not have to provide proof of Identity to use the services. No one can take your crypto away. Only they person(you) with the private key can use the crypto.

Centralized, they hold your crypto and you do have to provide proof of identity to use the services. They can freeze your crypto just like a bank can freeze your money.

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