Recently, many people are learning about DEX. Also, in line with this trend, Binance has launched a DEX service. I will tell you in detail how to use Binance DEX and how to get a 10% discount on trading fees.
What is a DEX Exchange?
Exchanges commonly used in Korea, such as Upbit or Bithumb, are Centralized Exchanges (CEX).
On such exchanges, you buy cryptocurrencies with actual Korean Won (KRW), which is fiat currency issued by a central bank.
In the end, even if we buy 'decentralized assets,' the transaction itself takes place within a centralized system.
The problem is that common exchanges such as Binance, Bitget, OKX, and Gate are all also centralized exchanges.
Then, where is truly decentralized trading possible?
It is the Decentralized Exchange (DEX).
If CEX is a place that 'trades decentralized assets in a centralized manner,' DEX can be seen as a space where completely decentralized trading takes place through a Smart Contract.
Comparison Table of Pros and Cons of CEX and DEX
| Category | Centralized Exchange (CEX) | Decentralized Exchange (DEX) |
|---|---|---|
| Operating Entity | Exchange Company | Smart Contract |
| Asset Storage | Exchange Server | Personal Wallet (Private Key) |
| Trading Method | Order Book Based | Automated Pool Based (AMM) |
| Pros | Convenient Interface | Personal Control, Censorship Resistant |
| Cons | Vulnerable to Hacking/Withdrawal Restrictions | Complicated for Beginners |
In fact, if you are a trader looking up DEX, you are probably not a beginner in coin trading.
Binance VS Binance DEX
| Comparison Item | Binance (CEX) | Binance DEX |
|---|---|---|
| Security Method | Exchange Security System | Self-Custody Based on Private Key |
| Trading Speed | Very Fast | Relatively Slow |
| Ease of Use | Suitable for Beginners | Requires Understanding of Blockchain |
| Regulatory Compliance | KYC Required | Anonymous Trading Possible |
| Risk Factors | Potential Loss in Case of Exchange Hack | Cannot Recover if Key is Lost |
| Suitable Users | Short-Term Traders, Beginner Investors | Intermediate to Advanced Users with Blockchain Experience |
How to Use Binance DEX
Now, I will explain in detail how to use Binance DEX. There probably aren't any beginners, but since there are many confusing parts, I will explain it as detailed as possible so that even beginners can understand.
Binance Sign-up
First, you must sign up for Binance before using Binance DEX. If you haven't signed up yet, you can do so at the link below.
🤑 Sign up for Binance and Get a 20% DiscountIf you are unsure how to sign up, please refer to the article on how to sign up for Binance.을 참고해주세요.
Binance DEX Trading Fee Discount
First, before transferring funds, you can enter the link below to get a 10% discount on DEX trading fees.
🤑 Binance DEX 10% Discount Link
For your reference, as of October 2025, there is currently no platform that gives a referral user more than a 10% discount rate for DEX.
If someone says there is, it is a lie, so please do not believe it.
(If on PC) Mobile Binance App Verification
When you enter, a screen like this appears. If you access Binance DEX on a PC, you need to verify it with the Binance app.
Turn on the app and click Wallet at the top.
Then, a screen like the one below appears, and clicking Enable completes the verification.
Fund Transfer
To use DEX, you must transfer funds to the Binance Wallet to use the DEX exchange. Unlike a regular exchange wallet address, the Binance Wallet is custodial but has the advantage of allowing anonymous trading.
There are three ways to transfer funds.
- Transfer from Binance CEX
- Purchase Tokens with Card (Only possible on mobile)
- Transfer Tokens from Other Wallets and Exchanges
However, you cannot proceed with the purchase and transfer steps completely anonymously. It only means that it is recorded where the funds went, but not who traded how much within it.
For example, the details are not exposed externally, just like when someone who appeared to be related to Trump previously took an 800 billion KRW short position before the tariff announcement.
Now let's immediately check the transfer methods.
Click Deposit at the top.
On PC, you can send to a wallet address or send funds from the Binance CEX exchange to the wallet.
Through the mobile app, traders residing overseas can trade coins with cards, Apple Pay, or Google Pay as shown below. Please note that there are fees.
Transfer from Binance Exchange to Wallet
Let's try the most common method: converting from the Binance exchange.
Click 'Transfer from Binance Exchange'.
Then the token and network appear. Although it is bothersome, you must convert it to the corresponding coin for the transfer to be possible.
There are three transferable coins: BNB / SOL / ETH.
Direct Transfer to Binance Wallet from Other Wallets and Exchanges
If your funds are in another personal wallet or exchange, click 'Receive Tokens via Address'.
Similar to the above, there are three usable networks: BNB / SOL / ETH. You can deposit directly to the corresponding address. Note that here too, you must send the coin that matches each network.
For example, do not send in a form like USDT(BSC); you must deposit with BNB coin.
Apple Pay, Google Pay, Card Purchase
Click 'Buy With Card'. Then various coins appear as shown below.
When you click on the coin you wish to purchase, your Binance Wallet will appear below, showing your current balance, address, wallet name, etc. Since I currently only have one, I will click on the one shown.
Spend is how much you will purchase, based on the dollar (currency can be changed), and Receive is which coin you will purchase.
'Pay with' below is about which payment method you will use.
If you click, there are Card and Apple Pay. Both can only be used for transactions with VISA or Mastercard.
How to Trade on DEX
The method for trading on DEX is the same as the spot trading method on the Binance CEX exchange.
If there is a coin you want, you can select it from above and proceed.
Trading Settings
Once you have found the coin you want to trade, you need to set up the settings. The method is the same, but because it is essentially all meme coins, sudden sharp increases and drops are very frequent.
Therefore, the basic settings are slightly different.
Amount is the type of coin you hold. You must note that it is traded by the number of each coin, not displayed as USDT.
In the Buy window, you can purchase simply by clicking or typing the amount and clicking Buy. However, the problem is that due to the nature of meme coins, slippage is very frequent and severe, and the transaction itself incurs a gas fee.
If you click the > under Preset, a screen like the one below appears.
Gas price is the cost per unit of gas set for a blockchain transaction. Setting a higher gas price encourages miners or validators to prioritize the transaction, resulting in faster transaction processing.
The default slippage is set to 2.24%, and the maximum means the transaction will be executed even if the slippage reaches up to 20%.
You can set the values differently for three types, and you can set them differently for both buying and selling. Please remember the setting values well so you don't get confused when trading.
Transaction execution speed is accelerated depending on the network fee setting. Setting it blindly high is not necessarily good.
How to Sell
When you sell, you click Sell and can sell the number of tokens you hold. If you do not have any tokens, you cannot sell.
Q. I am already trading on Binance DEX, can I not get the referral discount?
If you were not receiving a referral discount, follow the method below to get a $10\%$ discount on trading fees starting from your next trade.
1. Go to Trade – DEX on Binance.
2. Click Referral at the top.
3. Click 'Enter Referral Code' in the middle.
Write[LEVER1000]here and click Confirm to get a discount on trading fees.
** A referral you created will not be applied to your own account.
Binance Usage Guide
We have gathered all the previously compiled exchange usage guides and Q&A into a roadmap for easy viewing. Please bookmark and use it.
[Check Crypto Exchange Usage Guide]