Centralized and Decentralized Exchanges - page 4.

PuertoLibre

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Quote from: Greeenmtn on February 06, 2019, 08:32:28 PM

Quote from: Reid on February 05, 2019, 04:55:55 PM

Okay that is one good table and better to understand. Perhaps you shouldve just stickied something for a better image of it.

I just dont get it. Looking at the table I would still prefer to use decentralized exchange. Why is it that it had a low volume suddenly when this centralized came in.

Aint it better to have a privacy for safety and also low transaction fees. I mean it is almost free rather than paying a lot for a pool transaction which takes forever before it could go back to your wallet.
I just cannot believe how could all of this happen.

The problem with most DEX's is there are gas fees for every trade, gas fees for every cancel, signing every order manually, confirmations needed for orders to be accepted, confirmations required for fill before you can exit a position, etc. DEX's UI needs to be infinitely better, and the speed needs to be equal to centralized exchanges. All while being non-custodial....

For small comparison, i think DEXs are like Linux and centralized exchanges are like Windows operation system. User should be able to trade with given tools on decentralized exchange by all means. I don't deny the fact about usefulness of centralized exchanges but everyone has different needs,skills,experience so depending on the situation both are required for proper trading.

baigreen

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I think these exchanges have their pros and cons. However, many want to make deals and remain anonymous. If the price of a coin is good for a coin. No matter on what exchange it will be sold. I am sure that the difference will not be 10%.

Well, I like both of these options. Grin

gensol

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The two has its pros and cons CEX outweighs Dex with liquidity benefits despite the fact that Dex gives me opportunities to manage my funds myself from my personal wallet that I Co trol the keys, I'll always choose CEX over Dex. CEX is user friendly u like Dex benefits keeps rolling in.

Abosede

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One of the good thing about this forum is that you keep learning everyday,when you think you know enough, then you get to see something you don't know yet.Thanks for this info,I guess decentralised exchange might take over if the exchange is able to overcome low volume,charges might not be that important as long as you have your privacy.

livingfree

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I used both decentralized and centralized exchanges and to be honest I'm liking more the service of centralized ones. I'm into decentralization but if its for convenience, well we can't deny on how good these centralized exchanges on giving that satisfaction level that every customer wants. I'm not very familiar to say that they are insured but if an accident comes by (which I don't wish to happen) you can't say on how secured and insured your funds there.

Greeenmtn

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Quote from: Reid on February 05, 2019, 04:55:55 PM

Okay that is one good table and better to understand. Perhaps you shouldve just stickied something for a better image of it.

I just dont get it. Looking at the table I would still prefer to use decentralized exchange. Why is it that it had a low volume suddenly when this centralized came in.

Aint it better to have a privacy for safety and also low transaction fees. I mean it is almost free rather than paying a lot for a pool transaction which takes forever before it could go back to your wallet.
I just cannot believe how could all of this happen.

The problem with most DEX's is there are gas fees for every trade, gas fees for every cancel, signing every order manually, confirmations needed for orders to be accepted, confirmations required for fill before you can exit a position, etc. DEX's UI needs to be infinitely better, and the speed needs to be equal to centralized exchanges. All while being non-custodial....

Greeenmtn

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Quote from: cryptomaster420 on February 05, 2019, 03:01:39 PM

Quote from: BULVRDapp on February 05, 2019, 02:58:07 PM

We really need more of the community to embrace decentralized exchanges!

But why would the community embrace decentralised exchanges? They're illiquid, their user experience is still meh... We're years from massive use of decentralised exchanges.

Not years, now using plasma, exchanges can be non custodial and fast.

Greeenmtn

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Quote from: TastyChillySauce00 on February 05, 2019, 06:11:59 PM

Quote from: CryptoKush on February 05, 2019, 05:48:25 PM

Centralized exchanges are now much more popular than decentralized. Centralized exchanges are faster than decentralized. Also, centralized exchanges have a greater volume of trades. Perhaps in the future the situation will change, but at the moment, decentralized exchanges cannot compete with centralized exchanges.

The advantages that you just mentioned are already been there since ages. Decentralized exchange prioritize the security and safety of user by letting no one in charge of storing the money. That also why decentralized exchange kinda slow.

Leverj is doing plasma flavour for exchange model, so its decentralised but still high speed centralised feel. Its achieved by doing all the high computation stuff like the matching and margining on centralised servers and all the operations within are trustlessly secured by fraud proofs between parent chain and child chain (using basic market rules like time price priority and balance availability, solvency, liquidity). So that DEX won't be slow.

Greeenmtn

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Quote from: Metall303 on February 05, 2019, 02:31:27 PM

Quote from: Thanasis on February 05, 2019, 02:25:54 PM

No insurance for the centralized exchange as well,so if your funds were stolen then you may not get it forever,there are lot of exchange hacks were happened and most time they will just close it without any compensation,only you can withdraw your funds from a closing exchange.

decentralized exchanges will not be able to work for a long time. I think that people are not ready to answer for their own funds and decentralized exchanges will be much slower than centralized. And centralized exchanges will be responsible for losing money

DEX Leverj.io will be going to mainnet this month. Fast as centralized, easy asset management. As long as the UI is simple and straightforward, having custody of your own funds shouldn't be a hurdle for adoption.

Denreal

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Quote from: Pffrt on February 06, 2019, 03:02:51 AM

You have shared a lot of info but you didn't organize properly which is why your post is not looking good. Try using bbcode table and it will be fixed

I did not not know that someone else also noticed that. The information he has there are useful, but the organization is not so God, which is why the attractiveness is not there.
I am just looking forward to a time that decentralized exchanges will also have increased volume like some centralized.
It is a gradual process, because Rome was not built in a day.

Pffrt

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You have shared a lot of info but you didn't organize properly which is why your post is not looking good. Try using bbcode table and it will be fixed

Herbert2020

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the biggest problem with decentralized exchanges is their lack of adoption. if more people started using them then most of the rest of the problems that you mentioned here would be solved. for example their security would improve as bugs are found and fixed, the liquidity will increase and it becomes easier to trade larger amounts and also the features will start improving as people use them and report their requests and improve the open source projects (assuming we are talking about an open source decentralized exchange platform).

SRKNGL

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Decentralized exchanges do not have high volume except for idex. That's why people invest more in centralized exchanges. And they are more confident in these exchanges.

Thanasis

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Quote from: Metall303 on February 05, 2019, 02:31:27 PM

Quote from: Thanasis on February 05, 2019, 02:25:54 PM

No insurance for the centralized exchange as well,so if your funds were stolen then you may not get it forever,there are lot of exchange hacks were happened and most time they will just close it without any compensation,only you can withdraw your funds from a closing exchange.

decentralized exchanges will not be able to work for a long time. I think that people are not ready to answer for their own funds and decentralized exchanges will be much slower than centralized. And centralized exchanges will be responsible for losing money

Maybe it is not best in the features but decentralized are more secured because you still control your funds and there is no centralized exchange is going to give your money back if there is hacker attack your wallet or the exchange itself,you will love everything.

karagun125

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Thank you for this beneficial post. I only know two decentralized exchange, i hope that my knowledge about crypto would increase as i would read more here in this bitcointalk forum thread. I also hope for safeness of our wallet in a decentralized exchanged.

mirakal

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If you are trading with a huge amount of money, I don't think it's wise to choose a decentralized exchange.
With big money, traders are looking for insurance and I believe centralized exchange now are already considering their exchange to be insured
since they are vulnerable on hacking, hence, centralized exchange is still better compared to decentralized.

However, we cannot deny that there are still traders who patronize decentralized exchange because new tokens that are listed are cheap but the volume will tell that only few are trusting their money.

So far, IDEX is my favorite for decentralized and Binance for Centralized.

TastyChillySauce00

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Quote from: CryptoKush on February 05, 2019, 05:48:25 PM

Centralized exchanges are now much more popular than decentralized. Centralized exchanges are faster than decentralized. Also, centralized exchanges have a greater volume of trades. Perhaps in the future the situation will change, but at the moment, decentralized exchanges cannot compete with centralized exchanges.

The advantages that you just mentioned are already been there since ages. Decentralized exchange prioritize the security and safety of user by letting no one in charge of storing the money. That also why decentralized exchange kinda slow.

CryptoKush

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Centralized exchanges are now much more popular than decentralized. Centralized exchanges are faster than decentralized. Also, centralized exchanges have a greater volume of trades. Perhaps in the future the situation will change, but at the moment, decentralized exchanges cannot compete with centralized exchanges.

tippytoes

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Quote from: Tony116 on February 04, 2019, 10:11:21 AM

Quote

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.

temilade200

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Quote from: BULVRDapp on February 05, 2019, 02:58:07 PM

We really need more of the community to embrace decentralized exchanges!

It is going to be a gradual process. Centralized exchanges did not start big. As a matter of fact, so many of them started with no or very negligible volume, yet today, they look big, because they have got liquidity.
I feel we should just ask ourselves, what was the attractive force or the strategy that was used to attract traders, who were able to bring in fund to increase the volume.

Topic: Centralized and Decentralized Exchanges - page 4. (Read 680 times)