What is
A cryptocurrency exchange operated by a centralized company or authority, which holds custody of users' funds.
A cryptocurrency exchange operated by a centralized company or authority, which holds custody of users' funds. CEXs are popular for their liquidity and ease of use, but require users to trust the operator. Examples: Binance, KuCoin, Gate.io.
Common questions about this topic
Start by getting a wallet (Nautilus for browser, Terminus for mobile). Back up your seed phrase securely offline. Get some ERG from an exchange (Gate.io, KuCoin) or DEX (Spectrum). Make a test transaction. Then explore: try DeFi on Spectrum, check out NFTs, or dive into the technology if you're a builder.
This is not financial advice. Ergo has strong fundamentals: fair launch (no VC dump risk), innovative technology (eUTXO, Sigma Protocols, NiPoPoWs), active development, and a cypherpunk ethos. It's a smaller market cap project with higher risk/reward than established chains. Research thoroughly, understand the technology, and never invest more than you can afford to lose.
Yes, Ergo is highly secure. It uses Proof-of-Work (the same security model as Bitcoin), has never been hacked, and the eUTXO model eliminates entire classes of smart contract vulnerabilities. The code is open-source and peer-reviewed. Your security also depends on proper seed phrase management.
Ergo supports a full ecosystem: trade on Spectrum DEX, use SigmaUSD stablecoin, mix transactions with ErgoMixer, collect NFTs on SkyHarbor, mine with GPUs, lend/borrow on DuckPools, bridge to other chains via Rosen, and build dApps with ErgoScript. It's a complete platform for decentralized finance and applications.