Topic: Both centralized exchanges and dex arent perfect - page 2. (Read 596 times)
As if there is any choice left, you have to manage either one of the two and accepts their flaws, centralized exchanges seem to have the upper hand over DEX because they are the best for crypto traders, unlimited volumes and liquidity, this is why DEX is still lagging behind today
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 ?
Yup, that’s accurate, both DEX and Centralized exchanges have their own advantages and disadvantages, they are all good in their own ways and bad in the other.I think the reason why a lot of people are not making use of decentralized exchanges is because they are not aware of the kind of dangers they are exposed to while making use of them. Then there are some who are aware of these risks, but the reason they don’t want to use decentralized exchanges is because they can’t keep their keys safe, so they use CEX to avoid that responsibility. And possibly high fee is another thing.
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 ?
what about atomic swap or a swap service like uniswap? the only problem should be on the fees but it has a very big daily trade volume, the user's data will not be exposed or never. It's also much more safer compared with centralized exchange site. I remember some cex are feeling worried if uniswap can become a real competitor for cex.
There's also a thing that called atomic swap too.
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 partly agree with you. Both have their advantages and disadvantages. However your mentioned disadvantages of decentralized exchanges are mostly because they are not used that often. If more user would use decentralized exchanges volume will increase of course and spreads will narrow down. The high trading fees are only an issue of some platforms which are mostly based on Ethereum, Waves-based decentralized exchanges for example do have relatively low fees. Also the lack of good interface does not hold for all decentralized exchanges.
On CEX data can be breached and hacks can still take place, on DEX side it's not the same as there isn't any data to be compromised, users can trade tokens without any form of verifications, but CEX owns the majority of volumes and liquidity in whole crypto space and also good trading can only happen on CEX, so for security reasons it's better to choose DEX but for better trading experience CEX wins
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 ?
So the choice is yours whether you want security of your private details or just want to save maximum fees while trading cryptos. Well decentralized exchanges can gain more trading volume if people choose DEX to trade their funds than centralized exchanges but the fees factor may not get better when trading on 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 ?
Unfortunately no place else to run to, you can either accept and deal with the lapses of either of them or don't trade, even if you decide to go the p2p way that too is risky because you have no idea who you are dealing with and what they are capable of,
At the end users will have to weigh which option is much beneficial to them, to be honest I prefer to use the cex than the dex for the obvious reasons, regardless of the kyc process.
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 ?
We humans are not even perfect, therefore I think it is somehow justifiable not to expect a perfect system but however trying as much as we can to manage the situation or imperfect system while maintaining the highest form of security and due diligence we can think of. Also, there is something to know, and that is, although centralized exchanges are not secure they can still be used to achieve our aims, moreover most centralized exchanges are now supporting fiat currencies, which now gives people more opportunity to access cryptocurrencies. In the case of decentralized exchanges, although there is no good volume and so on, but it can also be leveraged on to achieve our trading aims, moreover you do not need to worry a lot about security be it in terms of users data or assets, which is of course the most important.
Therefore, what I can only suggest is, accept the imperfect system, make the best use of it and in each case, maintain the highest form of security because you are the only one responsible for it.
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 prefer decentralized exchange for the simple reason that we are safe trading here our vital information is safe and it conform to what Satoshi Nakamoto is preaching which is decentralization and anonymity, maybe in the future we will have 5 top decentralized exchange that can compete with the top centralized exchange in the industry, so traders will have a wide choice where they opted to trade.
- No trading fees
- No brokers
- No liquidation fees
- No Deposit Fund
INCREDIBLE $0.01 TRADES!!!
https://www.youtube.com/watch?v=hfC3oHPrg6g
If a token has liquidity on an AMM like Uniswap it offers the best of both worlds, instant trades, liquidity, no KYC. The issue the industry is trying to get around right now is impermanent loss. If you provide liquidity to a pool you can lose money easily. Some pools are incentivized to reduce this risk, like MTA.
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 ?
Both of them have advantages and disadvantages as well so it is your personal choice which one you will chose but going forward into the future i think we may see hybrid solutions especially if kyc becomes a compulsion for dexes too. Also i think decentralized swap platforms like uniswap will grow more and improve as well and they may dominate the market in coming months. 
You should know that in crypto, whether it's exchanges or wallets, some are definitely safer than the other, but none is completely free from any con or from the users folly, with hw wallets for example, it's safer than software wallets but there are still protocols it's users must follow, like if you give out you seed phrase, your funds would be stolen, even despite the fact that you're using a hw wallet.
Having said that, with exchanges, majority of users use centralized exchange cause it's somewhat easier to use and more user-friendly for traders, but if you're a user and your privacy is very important and you want to avoid KYC and the rest of the data you're to provide on centralized exchanges, then you can go for dex ones, the thing is to know the security protocols of every service you're using, centralized exchange users should also not leave their funds on the exchange and should always look out for phishing attempts, especially when there is a data breach, just take responsibility, no matter the service you use.
Having said that, with exchanges, majority of users use centralized exchange cause it's somewhat easier to use and more user-friendly for traders, but if you're a user and your privacy is very important and you want to avoid KYC and the rest of the data you're to provide on centralized exchanges, then you can go for dex ones, the thing is to know the security protocols of every service you're using, centralized exchange users should also not leave their funds on the exchange and should always look out for phishing attempts, especially when there is a data breach, just take responsibility, no matter the service you use.
Unfortunately there is no single cex and dex exchange platform which is capable to provide a fully satisfied trading experience both platforms have advantages and disadvantages in comparison of each other so we have to deal with it on our own understanding and most important we should choose those platforms which has strong crypto community support.
True, sometimes the needs of each person for the exchange are different and on average will use both of them to complete any work they have started, and the advantages and disadvantages of each exchange are clear, and it just needs to be understood by each user. exchange.
I think this board https://bitcointalk.org/index.php?board=223.0 is more suitable for your thread since you mention an exchange.
I have no experience to use decentralized exchange honestly, but if I heard to your statement that decentralized exchange has a high fee and lack of volume seem like it is not suitable for me.
I use an exchange not for long term investment I just use it for trading place that I'll use it every day since I like scalping trade that need more time to entry to the market. Also, I have no problem with personal data as long as I give them to the trusted platform. Yeah, I'll check an exchange first before I make an account so I just believe that the exchange will keep my personal data secretly.
I have no experience to use decentralized exchange honestly, but if I heard to your statement that decentralized exchange has a high fee and lack of volume seem like it is not suitable for me.
I use an exchange not for long term investment I just use it for trading place that I'll use it every day since I like scalping trade that need more time to entry to the market. Also, I have no problem with personal data as long as I give them to the trusted platform. Yeah, I'll check an exchange first before I make an account so I just believe that the exchange will keep my personal data secretly.
UNISWAP fee is killing it's users presently, this makes me go back to centralized exchanges for swapping coins, and tokens but as for trading centralized exchange is the best place, we need more than UNISWAP in crypto space right now, if we can have up to 5 standard DEX exchanges like UNISWAP then it will be very good for all of us
I think you'll enjoy this 
Quote
Stakenet is quite literally going to be the glue that holds these L2 solutions together. We have already debuted our beta Lightning DEX, the very first platform that enables “Lightning Swaps.” A lightning swap is similar to an atomic swap, except it occurs entirely off-chain. Balances are sent to blockchain wallets upon withdrawal from the DEX.
We have begun work on integrating the Connext network and the Vector protocol into the XSN DEX, which would add support for a number of Ethereum-based assets and L2 solutions to our platform.
We have begun work on integrating the Connext network and the Vector protocol into the XSN DEX, which would add support for a number of Ethereum-based assets and L2 solutions to our platform.
Quote
What makes Connext the best choice for our DEX infrastructure is their recently released protocol, Vector, a cross-chain routing network that can bounce between other L2s, ETH shards, primary blockchains and even EVM-compatible chains such as Binance smart chain, Ethereum classic, TOMO chain, and others.
Vector supports conditional transfers routed over intermediary nodes, instant cross-chain and cross-asset transactions, plugin support for non-EVM turing-complete chains, zkRollups, easy deposit/withdraw interface, and low gas costs. All of this is packaged in a lightweight program, containing no more than 2500 lines of code.
Other advantages of Connext are client stability, supporting all operating systems including Windows, and live support for ETH, USDT and DAI. All these mean we will be able to easily add further pairs once we successfully implement and test Vector protocol, making us the first DEX adding support for BTC/USDT and other crypto-stablecoin pairs, without any need for wrapped coins on Ethereum mainnet.
Vector supports conditional transfers routed over intermediary nodes, instant cross-chain and cross-asset transactions, plugin support for non-EVM turing-complete chains, zkRollups, easy deposit/withdraw interface, and low gas costs. All of this is packaged in a lightweight program, containing no more than 2500 lines of code.
Other advantages of Connext are client stability, supporting all operating systems including Windows, and live support for ETH, USDT and DAI. All these mean we will be able to easily add further pairs once we successfully implement and test Vector protocol, making us the first DEX adding support for BTC/USDT and other crypto-stablecoin pairs, without any need for wrapped coins on Ethereum mainnet.
full article:
https://medium.com/stakenet/ethereum-scalability-solutions-connext-and-stakenet-xsn-research-4edb29267bb6
Unfortunately there is no single cex and dex exchange platform which is capable to provide a fully satisfied trading experience both platforms have advantages and disadvantages in comparison of each other so we have to deal with it on our own understanding and most important we should choose those platforms which has strong crypto community support.
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 ?
Both has pros and cons but I prefer trading on decentralize exchange, exchange like UNISWAP will lead the way for decentralized exchange to become the most favored type of exchange in the industry, if we are going to have at least 5 decentralized exchange, the decentralized exchange is good to go.
The interfaces of DEX is almost like the CEX already, there is nothing different to it if you look at them. If you try to circumvent polonidex, it's just a normal orderbook type exchange just as how DYDX looks like. It's the swapping exchanges like Uniswap that are very much different.
If do not get out of the smartcontract platform like ETH, EOS and TRON which their wallets also have a link to their DEX then you certainly have tried to avoid leaking your data.
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 ?
Both has pros and cons but I prefer trading on decentralize exchange, exchange like UNISWAP will lead the way for decentralized exchange to become the most favored type of exchange in the industry, if we are going to have at least 5 decentralized exchange, the decentralized exchange is good to go.
Jump to: