Topic: Centralized and Decentralized Exchanges (Read 680 times)
A great analysis showing the difference between decentralized and centralized exchange,going by the disadvantages and the advantages,i will prefer centralized exchange for now until decentralized can add more features.
Centralized and decentralized exchanges has got alot of advantages and disadvantages among them,but i guess the simplicity of centralized and the many features has given centralized exchange a edge over decentralized but when it comes to privacy,decentralized is a choice.Thanks for putting these together.
It is great to know the differences between decentralised and centralised,also the shortcomings, decentralised exchanges has got some privacy but limited,why centralised has got so many features but no privacy.
I do not use DEX, I am satisfied with Binance, as the most reliable place to trade,
maybe you only trade with mainstream crypto's but if you are an airdrop or bounty hunter , you can find dex more useful as they list most alts and erc20 tokies but there's no doubt that binance is legit and famous exchange .
and ChangeNOW is also used as a place to exchange without registering.
wtf ? what's wrong with you guys ? why alot of you still recomending changenow ? arent you are that changenow is now turned into scam ? of maybe they are just selective .
Centralised Exchanges obviously wins decentralised exchanges when it comes to the advantages, one major reason I like centralised exchanges is that you can trade coins and tokens from various blockchains and not just the blockchain that it's built on like Decentralised exchange and you go not need to hold the token of the blockchain because of fees.
I do not use DEX, I am satisfied with Binance, as the most reliable place to trade,
maybe you only trade with mainstream crypto's but if you are an airdrop or bounty hunter , you can find dex more useful as they list most alts and erc20 tokies but there's no doubt that binance is legit and famous exchange .
and ChangeNOW is also used as a place to exchange without registering.
wtf ? what's wrong with you guys ? why alot of you still recomending changenow ? arent you are that changenow is now turned into scam ? of maybe they are just selective .
I do not use DEX, I am satisfied with Binance, as the most reliable place to trade, and ChangeNOW is also used as a place to exchange without registering.
We have got advantages and disadvantages for both decentralized centralized exchanges,to me the major problem of centralized exchange is the privacy problem,no privacy and that make it easy for hackers to hack,but when it comes to functions, i guess it is far better than decentralised exchange and most importantly, it is user friendly, for decentralised, you have some privacy which make your coin to be safe.
The differences, advantages and disadvantages of the centralized and decentralized exchanges are very well explained. It was an article I thought would be very useful especially for individuals at the beginning level. As a result, regardless of the level of information, users should be aware of the services they will use and should know who or where they will be in a possible situation. New investors should definitely look at these information articles and learn about them.
To be honest, in general, I don’t understand what the difference is. Many say that centralization is worse than decentralization and exchanges, respectively, but what's the difference? It seems to me that there is no difference at all.
I am confused by the fact that centralized exchanges are so often subject to hacking. Every year the same thing. Several large exchanges are losing money to their customers.
Well, my belief is that whatever has advantages will definitely also has disadvantages. Decentralized exchanges have advantages likewise disadvantages too. The same thing is applicable for Centralized exchanges.
But in all, I prefer decentralized exchange over centralized exchange because of its high security and one doesn't has to perform a KYC to withdraw.
But in all, I prefer decentralized exchange over centralized exchange because of its high security and one doesn't has to perform a KYC to withdraw.
Decentralized exchanges are much more reliable and that's what I like most about them. But I also use centralized. Sometimes I miss the opportunities offered by a decentralized exchange.
Well decentralized exchange are good but not so reliable IMO.Centralized exchange are more secured as users can undergo KYC and they will have an insurance if ever
they will loss their money in case there is a hack.
In decentralized exchange, you just enter your private or password and no KYC and they are not registered so operators could be anonymous.
Decentralized exchanges are much more reliable and that's what I like most about them. But I also use centralized. Sometimes I miss the opportunities offered by a decentralized exchange.
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11. Most centralized exchanges are insured.It is possible to get money back if something goes wrong.
I am very surprised with this paragraph. It's totally messed up, where the heck do you get that? Tell me what exchange is insured, what amount of deposit is insured, what is the procedure of getting insurance payments? So many questions without answers.
Haven't heard such thing also. Maybe, he can provide reference links stating that centralized exchanges are insured. I doubt this statement is really true.
Cryptocurrency just like Bitcoin is designed to be your own money, meaning to have full control of your own money so never put all of your crypto in any exchanges because they don't take the responsibility once your crypto is stolen.
Decentralized exchanges are quite cool especially for those with great amount of Cryptos that do not want their identity reviewed. The Decentralized exchanges are also safer.
In theory, decentralized exchanges should be better, but so far it does not work and basically everyone chooses centralized exchanges.
Of course wn any of them has its advantages. I can't say I support one thing. I use both centralized and decentralized exchanges.
I prefer decentralized exchanges. I love when I can control everything myself, including my funds and my transactions.
For me, Centralized exchanges are still miles apart from Decentralized exchanges, the absence of Fiat gateway is a minus to Decentralized exchanges and also their Interface is very poor and slow to use when compared to Centralized exchange. I see some exchanges trying to be creative by creating WBTC and Adding USDC to their exchange this is a good move but need to do more IMO
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