Centralized exchanges vs Decentralized exchanges - page 3.

CryptoTech_

full member

Activity: 994

Merit: 106

Official Street Team member

Quote from: funcryptoco on July 26, 2019, 09:42:39 PM

decentralized exchanges are safe tan centralized but decentralized exchanges has less options,

I agree that DEX has too few options, so many people prefer to keep using CEX for now

Quote

also centralized exchanges more fast in orders

I think it's the same as nothing is faster or slower

SirLancelot

hero member

Activity: 2506

Merit: 582

"CoinPoker.com"

Centralized exchanges has actually defeated the object of cryptocurrency, because cryptocurrency is meant to be fully a decentralized system and should never have the involvement of thirst party, and the reason for creating this decentralized system is to eliminate all third party and also third party fees which usually makes the cost of doing business or making payment very high, but centralized exchange has already taken over and most of the exchange we have now are centralized and we have very few DEX.

The little DEX that we have does not have the volume to become successful which is why people are not using them that much, but I think the reason why DEX is not gaining much popularity as much as CEX is because of the inability of people to change fiat to crypto on it. This should be one of its limitations.

funcryptoco

member

Activity: 107

Merit: 26

decentralized exchanges are safe tan centralized but decentralized exchanges has less options, also centralized exchanges more fast in orders

acmakc12

member

Activity: 504

Merit: 19

It is a pity to admit it, but at the moment it is difficult to single out some kind of stock exchange that can boast of complete decentralization, at the moment everything goes to the fact that centralization is under pressure from all sides, but I hope that all the same, full centralization will not happen.

Police Indo

full member

Activity: 649

Merit: 100

I prefer CEX because have provided facilities for exchanging crypto money with fiat, usually I can also withdraw fiat assets via a bank other than that the majority is legal and has an operating permit from the local government, so the Office is clear and traceable. but indeed there are a few who disagree with CEX because it is held by an Owner. from here they can set or manipulation prices.

Bananington

sr. member

Activity: 1428

Merit: 344

Good analysis on the difference between centralized and decentralized exchanges. Decentralized exchanges ideally should be the best option, but they are yet to meet up to standard when compared to centralized exchanges. Talking about liquidity and trading volume, fast transaction, ease of use and system UI, DEX lag a lot. But security wise, DEX are better off than CEX. So both have their own advantages and disadvantages.

cryptobae10

jr. member

Activity: 658

Merit: 5

Nothing beats having a decentralized exchange; you totally have nothing to worry about
You worry about yourself and your privacy

With dex

1. You don’t receive email of attempted hack
2 you don’t need to write support about a failed 2fa or delayed deposit or delayed withdrawal

It’s just the best for me

yazher

hero member

Activity: 2184

Merit: 585

You own the pen

Quote from: Crazypeach14 on July 26, 2019, 05:31:53 PM

When the dexes get 100% decentralized and user friendly the kyc infested centralized exchanges will die a celebrated death.

The problem for the dexes like you said is the user interfaces as most of them are not user-friendly but with enough experiment, you can use these exchanges without worry.

No KYC at all one of its major advantage compared to most of the centralized exchanges right now.

If I'm free to choose which one to use I go for decentralized no doubt about that.

Crazypeach14

newbie

Activity: 28

Merit: 0

When the dexes get 100% decentralized and user friendly the kyc infested centralized exchanges will die a celebrated death.

BADBITCH

jr. member

Activity: 532

Merit: 6

Quote from: Ken_terrance on July 16, 2019, 04:46:20 AM

The only disadvantages decentralized exchanges have is they already ruin the value of tokens,dumpers dumps tokens at unreasonable prices but they are more safer than centralized exchanges

I do not agree to this; token prices dumps anywhere
Be it a centralized exchange or a decentralized Exchange

You cannot leverage dump tokens on Dex.

Either dex or cex; token prices are not 100% safe
That’s why token get delisted on cex too

Herbet Fry

sr. member

Activity: 812

Merit: 253

●Social Crypto Trading●

99% of transactions are CEX? I didn't know that. I am surprised. To be true believers in crypto will use crypto as it is meant to be used, by using a DEX exchange.

Quote from: pixie85 on July 26, 2019, 03:53:15 PM

Quote from: bryant.coleman on July 20, 2019, 11:24:25 AM

If given a real choice, the vast majority would prefer decentralized exchanges.

I don't agree with you. Most smart people and those aware of the dangers of centralized exchanges would choose a decentralized one.

The real majority is not smart and not aware. They will choose whatever is faster cheaper and easier to use. Don't expect the majority to protect their data.

I didn't think of that. I agree. For me decentralized has been better and less hassle. I have never heard of a decentralized exchange freezing your funds after 1 deposit.
None of these exchanges need our KYC especially when they do it themselves. Exchanges that conduct KYC by themselves are scams.

pixie85

hero member

Activity: 2128

Merit: 524

Quote from: bryant.coleman on July 20, 2019, 11:24:25 AM

If given a real choice, the vast majority would prefer decentralized exchanges.

I don't agree with you. Most smart people and those aware of the dangers of centralized exchanges would choose a decentralized one.

The real majority is not smart and not aware. They will choose whatever is faster cheaper and easier to use. Don't expect the majority to protect their data.

jostorres

hero member

Activity: 2464

Merit: 585

Most people prefer to make use of Centralized exchanges… I hardly see anyone that is even making use of the exchanges that are not centralized… even I myself hardly make use of these decentralized exchanges and it has been long that I made use of any of them. Each of them has its advantages and disadvantages, it’s all up to the person that is making use of it to decide what’s best for them and start making use of that, but like I said, most of the people who are traders prefers to make use of the centralized exchanges than the decentralized exchanges.

There are centralized exchanges that are very secured to make use of as well. It all depends on the team that are handling the platform and how they decide to handle it.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

If given a real choice, the vast majority would prefer decentralized exchanges. But there are two drawbacks with this type of exchanges. First of all, the trade volume in many cases is very low, when compared to the more established centralized exchanges. And secondly, the decentralized exchanges are not as user friendly as the centralized ones. Someone who is new to crypto may find it difficult to understand the procedures and methods. But then we need to see for how long we get to use the decentralized exchanges. The FBI is pushing too hard for mandatory KYC verification of the users.

TastyChillySauce00

legendary

Activity: 2982

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: MikeyVeez on July 20, 2019, 11:08:04 AM

With so many hacks and regulations CEX can´t survive a fight with DEX.
But also we see that regulators are trying to regulate IDEX, the first DEX on ethereum network. Roll Eyes

That thing to be expected, there's the big boys that wanted to prevent the money laundering and I do support that requirement to prevent criminality, although that might be really inconvenient for many people. Also to take into account that submitting your data everywhere is really risky privacy wise.

MikeyVeez

full member

Activity: 896

Merit: 102

With so many hacks and regulations CEX can´t survive a fight with DEX.
But also we see that regulators are trying to regulate IDEX, the first DEX on ethereum network. Roll Eyes

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: Pelana vreo on July 18, 2019, 05:33:50 AM

The DEX exchange makes it easy for traders to trade, deposit and withdraw tokens as they wish, I often use Dex exchanges like IDEX, for now, the Binance decentralized exchange for the first has the good trading volume on their platform.
A centralized exchange is good, but still vulnerable to theft and hackers

Do you know that from 24 July we will have to complete KYC to be able to trade on IDEX? They already announced their intentions to incorporate KYC and AML, now that`s
happening.
There will be 30 days transition period, we will be able to make transactions without verification, but after transition period only verified users will be able to trade on IDEX.
What you think about their move? Good or bad for traders?

Pelana vreo

member

Activity: 744

Merit: 10

Syntrum.com

The DEX exchange makes it easy for traders to trade, deposit and withdraw tokens as they wish, I often use Dex exchanges like IDEX, for now, the Binance decentralized exchange for the first has the good trading volume on their platform.
A centralized exchange is good, but still vulnerable to theft and hackers

zzortyx

member

Activity: 588

Merit: 11

For good trades need a high volume of course. To date, high trading volumes are provided only on centralized exchanges. All the big players are concentrated there. But no one prevents you from using decentralized exchanges for small sales if it is more convenient for you.

Mysteryla

jr. member

Activity: 420

Merit: 3

The reason behind centralized exchanges having so much fund at their disposal is simply because they have lots on traders on them and the major reason for that is, they are well marketed unlike decentralized exchanges.
If DEXes can have the kind of exposure that centralized exchanges have, then it will surely be the best, because of its so much benefits.

Topic: Centralized exchanges vs Decentralized exchanges - page 3. (Read 962 times)