# kaal:claim:3936876-037

**Claim.** While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, decentralized exchanges introduce the ability for users to transact without exposing their private keys to vulnerability.

**Type.** mechanism  **Support.** argued

**Holds when.**

- comparison of centralized spot exchanges with DEXs

**Source quote.**

> While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, DEXs are introducing the ability for users to transact without exposing private keys to vulnerability.

**From.** Wulf A. Kaal, Hayley Howe, *Custody of Digital Assets* (2021), IV. Conclusion, page 32

**Cite as.** Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

**Verify.** sha256 of source PDF `9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Howe%20-%202021%20-%20Custody%20of%20Digital%20Assets.pdf

**Topics.** decentralization, defi

**Keywords.** decentralized-exchanges, private-keys, ownership, custody-alternatives

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