Topic: Centralized exchanges vs Decentralized exchanges - page 5. (Read 1026 times)

Currently user experience and user support are still not good like centralized exchange. But the Binance have launched their decentralized exchanges Binance DEX, I think they will make it common use in the future

it is impossible to choose between centralized and decentralized exchanges at this stage which is why it is hard to answer your question here in the poll. both of them have both positive and negative features that makes them both good and bad at the same time.

for example we all know the risks of centralized exchanges and the fact that every year at least 15-20 exchanges either get hacked or scam their users. but they still are offering features that a day trader wants specially in altcoin market where you want to go in and out of altcoins that get pumped and dumped in short times.
decentralized exchanges solve this problem but you can't do the same thing with them, and their liquidity is still low. not to mention that sometimes you can't find a lot of altcoins on these platforms so your choices are going to be limited.

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

It has its own pros and cons, and it's up to us traders what trading platforms are we comfortable. Personally, I have traded on both types of exchanges and  I can't say which one is the best. The main thing to remember here is,"not your keys, not your coins".

Wrong, centralized exchange site still become the most preffered exchange site. Dex is not so safe when you are logging with your privatekey. Cex and Dex have its own weakness. No need to mention but Cex still a winner from the popularity.

This is a good explanation you give there and for those that think that centralize exchange is better than the decentralized one you are making a very big mistake and it means you have not understood the reasons. behind blockchain technology. Though I used centralized exchange for trading I know that my funds are not safe because to secured your funds you must hold the private keys of your wallet. A decentralized exchange is the best and I believe that in future when we fully understand blockchain we would know that the reason why hackers are having their ways is that the exchange is centralized

Sincerely this are two different  setups trying to serve the same goal and definately, one will do more better so I expected you to bring a dialogue but your statement was just blank, maybe I sound harsh but it is, you can rephrase and mention me

No questions?

I though you are going to ask something like, "What do we prefer?"
Well, we cannot go on with a good conversation without that right? Creating this thread wont mean anything if it just an explanation that can also be googled.

Anyways, I do prefer decentralized exchange but they are getting rare by now. So, there is not much options but to just use those centralized exchange and just be careful on keeping it for a long time.

DEX will always the most preferred exchange but that requires huge works to be done as well. In a centralized exchange, I can easily deposit the und, trade, and withdraw but in DEX, I need to log in with my keys which is sometimes not much secured, you know once key is gone to another hand, they can easily steal your balance.

yes, you are  probably right
but, now people still choose a centralized exchange rather than decentralized exchange mate
i also believe in decentralized exchange

Dex is very easy to use, there are many Dex exchanges for each token exchange from Ethereum, Tron, and XRP.
the speed of transactions chose me to use the Dex exchange, we don't need to use KYC to register on this exchange and I think in the future there will be more Dex exchanges with good trading volumes.

 My money is on the Lightning DEX being developed by X9 developers. 

Binance DEX is on the early stage but we shall see some significant increase in volume in the long run.
Currently, the trading volume is still below $10 million while in Binance centralized exchange it reaches $1 billion, so there's a big difference and we can tell that people now supports more the centralized compared to the DEX.

I prefer DEX but sadly the majority of dex has very low daily trade volume and compared to the decentralized exchange site and the daily volume of dex is nothing. But binance dex has told us about the possibility of the centralized dex for sure. 

DEX's are the future, especially in times of an uncertain regulatory environment. Only a matter of time before we get a truly decentralized exchange with all of the usability benefits of a CEX, without the centralization. We're getting there.

yes, you are right
but, now people still choose a centralized exchange rather than decentralized exchange mate
i also believe DEX is safer than CEX

I thought centralized exchanges were a mix of the two aka their often just a front end GUI to interact with multiple decentralized exchanges?

I know there is some platforms that are purely centralized but I'd have thought the majority were still DEX

Decentralized exchanges are just not convenient most of the time; it takes quite a while before your order is fullfilled not like centralized ones but you can be sure that no one will ask for KYC when it comes to these exchanges and that's a big plus for people who care about their anonymity.

I may agree with some points you've made in your post butI don't think that there is a 0% risk of getting hacked even with decentralized exchanges plus you need some technical knowledge to be able to use a it that's why most of new people prefer using centralized exchanges since obviously they are easier to use.

Centralized exchange excels in so many things that normal users and day traders don't require or don't want to trade on dex.
The fees are complex and larger on dex, the trading slower, a learning curve mostly different for different dex.
More exchange based features like IEO, Margin trading makes cex more popular and best of all cex is also a multicurrency wallet.

Crypto was never meant to be traded on centralized exchanges like we see today. That's not my belief anyway. It's meant for Peer 2 Peer transactions with no middlemen.
I'm a STRONG believer in DEX's VS the future.

One of the best DEX solutions I've seen is the Stakenet Lightning DEX, for a couple of reasons.

1) It's gonna run on masternodes, making it extremely decentralized. Once it's up and running, even if the DEVS wanted to, they wont be able to shut it down.
2) The masternodes running the DEX will hold the blockchains supported by the DEX. This means you DON'T need to sync with the network to be able to trade, which is killing the user experience for most today when using DEX's.
3) As Stakenet's DEX is lightning compatible, everyone using it, will be able to trade as fast as any centralized exchange. Lightning transactions is near instant, and the fees extremely low.
Bitcoin have had it's hassle and issues with the tech, but when used in this scenario and setup it works surprisingly well.

The best part? The incentive to run a masternode is huge as every single DEX fee collected by the network is distributed and shared between all the masternodes running it.

With upcoming regulation rules, GEO-blocking of several countries on the top exchanges, and limits on how much you can trade dependent on your KYC level, it's a no brainer for most to move over to a more secure platform where one can trade 100% anonymously, and with 0% risk of getting HACKED.

Just my 2 cents...