There is no really specified existence of any perfect system to have in this world. All things have their own flaws or weaknesses to be stated despite of many benefits and opportunities that they can do provide. Your preference will dictate you on which kind of exchange you are going to be with and that is basically between Decentralized Exchanges (DEX) or Centralized Exchange (CEX). Not everything you certainly need can be provided on a certain exchange but the important thing is that most of it will be met and be provided to be able to continue within this industry. What matters upon choosing the exchange is your preference that you wanted to have on your exchange that will be suitable for you to get familiarize and will meet most of your needs. We are not always certainly focusing into the flaws or imperfections but gradually on the benefits because in the end, that will matters the most.
What would be the point of using a CEX some time down the road if every one of the advantages they have presently become decentralized? 
Topic: Both centralized exchanges and dex arent perfect (Read 605 times)
There is no really specified existence of any perfect system to have in this world. All things have their own flaws or weaknesses to be stated despite of many benefits and opportunities that they can do provide. Your preference will dictate you on which kind of exchange you are going to be with and that is basically between Decentralized Exchanges (DEX) or Centralized Exchange (CEX). Not everything you certainly need can be provided on a certain exchange but the important thing is that most of it will be met and be provided to be able to continue within this industry. What matters upon choosing the exchange is your preference that you wanted to have on your exchange that will be suitable for you to get familiarize and will meet most of your needs. We are not always certainly focusing into the flaws or imperfections but gradually on the benefits because in the end, that will matters the most.
I wonder why the description of decentralized exchanges does not indicate that they only work with another network? This is a huge disadvantage that makes such decentralized exchanges have no prospects.
It's caused by the dex pegged with the blockchain. The dex being created to support the assets that built into the chain. That's why some dex are working on the crosschain support. that needs the time to complete the development progress. I do agree if that's the disadvantage of dex.
Finally someone said it. I hate all these talks about how centralized exchanges are like this and like that, or decentralized exchanges are like this or that, they are both not great places and they are both not going to suddenly change everything in the crypto world.
Definitely there are some that makes it better, like dex have some features that people needed and it is good that they are bigger now with higher volume, or there are some that needed CEX and thankfully they still exist and keep growing bigger, because they have features we wanted.
But, there is not a situation where they are either perfect, neither of them can provide you with 100% all you need without ever needing any exchange again, it will always be places where we will always need multiple places to use and that is why there is no need to decide on which to use, since you can use both.
Definitely there are some that makes it better, like dex have some features that people needed and it is good that they are bigger now with higher volume, or there are some that needed CEX and thankfully they still exist and keep growing bigger, because they have features we wanted.
But, there is not a situation where they are either perfect, neither of them can provide you with 100% all you need without ever needing any exchange again, it will always be places where we will always need multiple places to use and that is why there is no need to decide on which to use, since you can use both.
For now there is no where to run to, we can only hang in balance and suit either to our taste. But very soon things will get better with dex for reduced fees and have a better platform. The wait is what I can't quantify but it will keep getting better but not to be perfect.
.
.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
Do you want people to tell you why they use decentralized exchanges or centralized ones? For me personally there are two reasons why I am afraid of centralized exchanges:
1. Most centralized exchanges require me to provide them with KYC data.
2. The coins that are on my exchange account do not actually belong to me.
As for trading volumes, transaction execution speed, and transaction fees, centralized exchanges are better than decentralized ones.
Both CEX and DEX have to work together to find the way forward, there is not point getting rid of one for another when they both have few disadvantages, look at binance team, they went ahead and build binance DEX, even if centralized exchanges are exposing data tomorrow due to SEC or the government asking for users data we can switch easily to binance DEX, I try respect binance CEO, he supports crypto with all his might
Ofcourse everything requires a process, I also remember when Binance was first released in 2017 with all its flaws. What is certain is that if you use cex you have to expect to be prepared at any time if your data will be visible to others, because cex has access to it.
The reason why we have so many tokens, projects, etc is because there is no perfection anywhere in the world. This is why we see both centralized and decentralized exchanges evolve time and time again; even now; top top centralized exchanges are SAFU; while decentralized exchange platform has advised to bookmark their webpages to ensure no one falls to fraudsters. Key word; never expect perfection; protect yourself and do your own research.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
There is no where to run, you are stalk with either of the two. They both have their advantages and disadvantages, for me I will pick DEXes for now, the level of development is huge and they are still at the early stage of development and growth. We have DEX with orderbook now, Serum and cheap fees, if you are not just looking into Ethereum DEXes
I wonder why the description of decentralized exchanges does not indicate that they only work with another network? This is a huge disadvantage that makes such decentralized exchanges have no prospects.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
you must choose the one that suits your needs...no platform will satisfy your desires. I always use CEX *usually Binance and it's okay to do KYC while CEX is trusted. do not think too hard about this matter, choose whichever one you feel comfortable with CEX or DEX.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
Since there launch and massive adoption i have become a fan of decentralized instant swap platforms like uniswap. I just want them to list and trade any token without the need of liquidity like the traditional dexes allow or maybe uniswap as a company itself shouldprovide some liquidity for all new tokens or similar solutions should be there so everyone and every token becomes tradable.
Both CEX and DEX have to work together to find the way forward, there is not point getting rid of one for another when they both have few disadvantages, look at binance team, they went ahead and build binance DEX, even if centralized exchanges are exposing data tomorrow due to SEC or the government asking for users data we can switch easily to binance DEX, I try respect binance CEO, he supports crypto with all his might
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
I think it is more better to use Dex wallet where are my data will not be exposed but the fees is the fact here .I think it is better to use Dex it is not exactly that we can't find the volume on Dex plz go Uniswap you will find there huge amount of volume . CEX = KYC
DEX = no trading volume
which of the two is good?
I compromised more with CEX, because I had no problem with KYC. Maybe I have fear because my personal data is not safe. but as long as I choose an exchange with good safety and quality. I'm okay with KYC.
right now I don't really like DEX. especially with uniswap, i had a bad experience expecting this exchange. and after all the high transfer fees are also one of the reasons why I dislike DEX.
DEX = no trading volume
which of the two is good?
I compromised more with CEX, because I had no problem with KYC. Maybe I have fear because my personal data is not safe. but as long as I choose an exchange with good safety and quality. I'm okay with KYC.
right now I don't really like DEX. especially with uniswap, i had a bad experience expecting this exchange. and after all the high transfer fees are also one of the reasons why I dislike DEX.
I think it is worst not to have a trading volume because you won't be able to sell or trade properly so I would rather have my kyc done and be able to trade with the right amount of volume, dex are good as decentralise exchange but the major problem is volume which is very important to trade, and yes I also don't like uniswap because of high transaction fee but it is the only dex with high volume as it is.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
but the most important thing from decentralized exchange is safer right ? because for me security is the most important thing in this industry
and we don't need to pass our KYC in dex right buddy ?
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
As you can see, both CEX and DEX have their own problems which i think are the ones that i think make up for the user. Obviously when you use a service you will always get asked to accept their rule. The problem i have is that i find it a bit inconvenient to use on DEX the fee is usually very high (uniswap).
They both have their advantages and disadvantages. I would like to use CEX because they are fast, full of various features and services, heavy trading volume, and good customer support. But if you are concern about your account security and want to place this priority on the top then DEX is perfect for you. You just need to bear higher trading fees and slow trade execution.
CEX = KYC
DEX = no trading volume
which of the two is good?
I compromised more with CEX, because I had no problem with KYC. Maybe I have fear because my personal data is not safe. but as long as I choose an exchange with good safety and quality. I'm okay with KYC.
right now I don't really like DEX. especially with uniswap, i had a bad experience expecting this exchange. and after all the high transfer fees are also one of the reasons why I dislike DEX.
DEX = no trading volume
which of the two is good?
I compromised more with CEX, because I had no problem with KYC. Maybe I have fear because my personal data is not safe. but as long as I choose an exchange with good safety and quality. I'm okay with KYC.
right now I don't really like DEX. especially with uniswap, i had a bad experience expecting this exchange. and after all the high transfer fees are also one of the reasons why I dislike DEX.
Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?
As you can see, both CEX and DEX have their own problems which i think are the ones that i think make up for the user. Obviously when you use a service you will always get asked to accept their rule. The problem i have is that i find it a bit inconvenient to use on DEX the fee is usually very high (uniswap).Jump to: