DeGate is a self-custodial wallet; Binance, Coinbase, and Kraken are centralized exchanges. In DeGate, assets reside at an address you control and transfers require your wallet's authorization. An exchange manages account assets and its withdrawal process. Both types of product let people buy and sell assets, but custody, recovery, and available services differ. DeGate suits people who want to manage their on-chain assets themselves and use trading and DeFi in one mobile app.
| What to compare | DeGate wallet | Centralized exchange account |
|---|---|---|
| Who authorizes an on-chain transfer? | Your wallet key | The exchange manages account assets and withdrawals |
| How is access restored? | Use your wallet type's recovery method | Follow the exchange's account recovery process |
| On-chain stocks | View issuer tokens and live Trade quotes from your wallet; purchased tokens remain at your address | Products, hours, and custody vary by exchange and region |
| Fiat deposits and withdrawals | Depend on available third-party routes | Often integrated, subject to regional availability |
| DeFi positions | Connect your wallet to third-party protocols | Depend on the exchange's products and on-chain withdrawal options |
| Cross-chain actions and gas | Supported actions can handle routes and gas, with network costs deducted from wallet balances; hardware accounts need native tokens | Internal transfers, on-chain withdrawals, and withdrawal fees follow exchange rules |
With DeGate, you can receive and send your own assets, inspect on-chain records, and connect your wallet to DeFi. Exchanges often offer more integrated fiat access, account recovery, and particular order types. Many people use both: for example, buying an asset on an exchange and withdrawing it to their own wallet. Compare the three or four functions you actually use before deciding. See can self-custody replace a CEX? for a broader discussion.
What changes for an EU user choosing DeGate instead of a centralized exchange?
A centralized exchange manages an account and its assets, verifies customers as required, processes withdrawals, and keeps account records. In DeGate, you hold the recovery phrase for a recovery phrase wallet and sign on-chain transfers yourself; using the wallet itself does not first require exchange-style identity verification. You can withdraw from an exchange to your DeGate address, while the exchange retains its account and withdrawal records. EU MiCA and DAC8 address service regulation and tax-information reporting respectively; third-party services reached through a wallet have their own rules. Personal tax filing still depends on your country of tax residence. See using DeGate in Europe and European tax records and reporting.
Can DeGate replace the Binance, Coinbase, or Kraken account I use?
It depends on what you do at the exchange. If your main tasks are holding assets, spot swaps, on-chain transfers, and DeFi, DeGate can cover many of them while assets remain at your own wallet address. If you rely on bank deposits, limit orders, or exchange account recovery, you may still need those services. List what you use each month and compare it with DeGate's current assets, networks, and quote routes. Start with a small amount when moving assets.
How do I move assets from an exchange to DeGate?
Select Receive in the DeGate mobile app and check the asset and network. At the exchange, choose that same withdrawal network and enter your DeGate receiving address. The same EVM address can appear on several networks, so matching the address alone is insufficient. Check the token and network in both places and confirm the exchange supports the withdrawal route. Consider a small test before a larger transfer. Verify the balance after arrival and keep the exchange withdrawal record. The exchange-to-self-custody reference discusses the wider decision.