CEX or DEX: Which One Rewards You More?

Darker45

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Quote from: Bulltard on May 11, 2024, 04:56:59 PM

Quote from: Jawhead999 on May 08, 2024, 10:49:26 AM

I believe you're talking about swaps, swaps isn't DEX.

please elaborate, i'm curious

Swap is a function, a feature. A DEx is a service, a platform. A swap isn't a function or feature that is exclusively provided by decentralized services or exchanges. You can do swaps even on centralized exchanges. You can also do swaps on services falsely claiming or marketed to be decentralized.

I guess this is the more important point to consider. Just because it is a swap platform doesn't automatically mean it is already a decentralized exchange. And just because it promotes itself as a decentralized exchange doesn't necessarily mean it is truly decentralized. A mere label doesn't mean anything.

Iamcrypticguy

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Quote from: Aanuoluwatofunmi on May 10, 2024, 01:05:31 PM

If we are to go by votes, people make use of the centralized exchanges more often than the decentralized ones, in which i believe that one of the reasons why they have seen this as being affordable to use was because of their lower transaction fees, but since many are not more engaged with the use of a decentralized exchange, we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

I use CEX more than DEX, and the reason is obvious. I don't think the government will clamp down on exchanges that comply with AML laws and are compliant. When it comes to bonuses, I know most platforms offer decent rewards upon registration - Binance, Bybit, Bitget ($15), and other rewards from tasks and competitions. You won't get that from DEX. However, on DEX, once you interact with the ecosystem and stake, you might receive an airdrop, as seen with JUP, STRK, and others. As a crypto user, I suggest being flexible to these options...

johnsaributua

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For someone who often uses crypto, of course between cex and dex is a complement, I realise that any hype coin comes from phase 1/early. There are 2 oppositions between the 2 market segments, between slippage (dex exchange fees are higher even though it is decentralised without identity) while kyc for cex by not being charged network fees every time you exchange with other assets. The main point is that dex has a lot of good quality and long-standing reputation in each chain. One thing I like is that dex has more opportunities to list new projects and can buy wisely according to each person's fundamental analysis, because there are also devs who do not inject liquidity for the continuity of trading and let non-officials Sad

. As for cex I prefer to trade from the profit from dex then send it. or I used to monitor new listings also in some cex if I still keep the coins I have from the beginning. I think the market for crypto is getting better every year because more and more dex and cex are popping up, but I still choose with the best visitors and ratings that have been tested.

Bulltard

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Quote from: Jawhead999 on May 08, 2024, 10:49:26 AM

I believe you're talking about swaps, swaps isn't DEX.

please elaborate, i'm curious

Z-tight

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Quote from: Aanuoluwatofunmi on May 11, 2024, 08:56:39 AM

but still yet, government have been dealing hardly on them because they believe that they can require from them any information or regulation needed to implement or take for their open purpose, we can use binance exchange as an example and the US government, they attack them as well as bitcoin users and miners in the US and same applies to few other countries.

Take note that the charges against binance and other centralized exchanges has nothing to do with BTC in itself. Binance was charged for non compliance of U.S aml laws, violating sanctions and unlicensed money transmitting, it is obvious they were guilty of all this and that is why they pleaded guilty and agreed to pay billions in settlement. The point is this, as long as centralized exchanges comply with the laws of regulators, which most of them do, the government is fine with them.

Aanuoluwatofunmi

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Quote from: Yamane_Keto on May 11, 2024, 06:24:47 AM

Quote from: Aanuoluwatofunmi on May 10, 2024, 01:05:31 PM

If we are to go by votes, people make use of the centralized exchanges more often than the decentralized ones, in which i believe that one of the reasons why they have seen this as being affordable to use was because of their lower transaction fees, but since many are not more engaged with the use of a decentralized exchange, we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

They will not do that. There are already exchanges that provide customer lists and cooperate with the authorities. This cooperation contributes to increasing tax revenues, and by banning these services, the tax rate will decrease significantly. a mass ban of centralized exchanges will make Bitcoin down, Monero price up, and 99% of cryptocurrencies will disappear.

Quote from: Z-tight on May 11, 2024, 02:41:21 AM

Quote from: Aanuoluwatofunmi on May 10, 2024, 01:05:31 PM

we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

The government is not closing down centralized exchanges, they do not like to close services that comply with aml and kyc laws, and if they know all the traders who use such services and can have their data on their desk, then they are fine with that. The U.S government will only charge an exchange if they fail to comply with aml and kyc laws or if they do not have a strong kyc procedure, but apart from that, their full focus is on BTC privacy solutions.

I understand your respective pints concerning the government approach on exchanges, they may not really want to close them down because they realized from them through regulations on the payment on tax, but still yet, government have been dealing hardly on them because they believe that they can require from them any information or regulation needed to implement or take for their open purpose, we can use binance exchange as an example and the US government, they attack them as well as bitcoin users and miners in the US and same applies to few other countries.

Yamane_Keto

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Quote from: Aanuoluwatofunmi on May 10, 2024, 01:05:31 PM

If we are to go by votes, people make use of the centralized exchanges more often than the decentralized ones, in which i believe that one of the reasons why they have seen this as being affordable to use was because of their lower transaction fees, but since many are not more engaged with the use of a decentralized exchange, we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

They will not do that. There are already exchanges that provide customer lists and cooperate with the authorities. This cooperation contributes to increasing tax revenues, and by banning these services, the tax rate will decrease significantly. a mass ban of centralized exchanges will make Bitcoin down, Monero price up, and 99% of cryptocurrencies will disappear.

Z-tight

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Quote from: Aanuoluwatofunmi on May 10, 2024, 01:05:31 PM

we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

The government is not closing down centralized exchanges, they do not like to close services that comply with aml and kyc laws, and if they know all the traders who use such services and can have their data on their desk, then they are fine with that. The U.S government will only charge an exchange if they fail to comply with aml and kyc laws or if they do not have a strong kyc procedure, but apart from that, their full focus is on BTC privacy solutions.

Aanuoluwatofunmi

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If we are to go by votes, people make use of the centralized exchanges more often than the decentralized ones, in which i believe that one of the reasons why they have seen this as being affordable to use was because of their lower transaction fees, but since many are not more engaged with the use of a decentralized exchange, we can wait to see how this government clampdown is going to help in driving traders and other bitcoin investors into using a decentralized exchanges, there we could gather experience and move further in making their comparison on which is better.

hugeblack

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Quote from: Phoenixtrader on May 09, 2024, 02:25:10 PM

True, price also differs and cex is more comfortable to use. Some folks here are talking about privacy regarding KYC. Isn't there a law that guides that?

In general, if CEXes do not deal with cash deposits, they do not need to request KYC, as dealing with cash requires creating a bank account, and to create this account, it is necessary to comply with KYC/AML.
If exchange does not deal with cash, it can work from countries that do not have legislation regarding cryptocurrencies and ban any country that has restrictions on dealing in cryptocurrencies (while allowing them to use the service via a VPN), but if governments are serious about implementing the legislation, they may be pursued on charges of money laundering.

Z-tight

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Quote from: Phoenixtrader on May 09, 2024, 02:25:10 PM

Some folks here are talking about privacy regarding KYC. Isn't there a law that guides that?

Isn't there a law that guides what? Centralized exchanges have to comply with aml and kyc laws, so all of their customers must submit their data and pass kyc before they can trade on their platform. However, in true decentralized exchanges, you do not have to submit your data before you can trade, so you maintain your privacy when you use them.

Phoenixtrader

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Quote from: ELbeee on May 09, 2024, 10:14:11 AM

Quote from: Phoenixtrader on May 08, 2024, 10:35:29 AM

Hey mates, good day to y'all

CEX and DEX are two different beasts when it comes to rewarding users. But which one actually offers more goodies??

CEX:

- Trading fees, discounts, and loyalty programs
- Faster transactions and higher liquidity

DEX:

- Token incentives, governance participation, and community love
- Decentralization, security, and community control

Did I miss anything? You can add more. But Do you prefer the traditional approach of CEX or the community-driven vibes of DEX? Let's talk.

Comparing CEX and DEX is like comparing apples and oranges - both have their unique perks. Personally I prefer CEX over DEX for its ease of use and rewarding features. CEX offers trading fees, discounts, and loyalty programs that helped me maximize my gains; accompanied with some decent deals for new users to kickstart their trading journey. Similar to the Bitget 15 USDT download bonus I read about on X. While DEX has its advantages, With CEX, I feel more in control of my trades and appreciate the faster transactions and higher liquidity

This buttresses some users here point about cex giving more rewards, I'm certain you can't get rewarded for downloading a phantom or a keplr wallet but you just mentioned you could for the cex you stated.. I feel both can coexist and we can make the best from both in maximizing profits and getting user satisfaction..

Phoenixtrader

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Quote from: Darker45 on May 09, 2024, 03:24:41 AM

Despite having higher fees and even if there are no discounts and loyalty programs, DExes will probably be more supported by users if only transactions are faster and liquidity higher. It's probably enough for them to be guaranteed of safety of their funds and given absolute control over them for users to forget about CExes. Unfortunately, however, inconvenience is a priority to users and CExes are the ones that offer it.

As for me, as much as I'm in support of DExes, the low liquidity which results to lower offers is indeed discouraging.

True, price also differs and cex is more comfortable to use. Some folks here are talking about privacy regarding KYC. Isn't there a law that guides that?

AbuBhakar

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Quote from: Phoenixtrader on May 08, 2024, 10:35:29 AM

Hey mates, good day to y'all

CEX and DEX are two different beasts when it comes to rewarding users. But which one actually offers more goodies??

It depends on your priorities and preferences for rewards. Privacy is the greatest reward you can get on DEX since they don’t have KYC and you have full control on your coins.

However, CEX is in advantage in almost all aspect of rewarding users since they have the cheapest fee, lots of tournaments/giveaways and most importantly they offer a great price on buying/selling coins and tokens.

CEX is still the dominant between the 2 so far because they have a better rewarding system for users.

Z-tight

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Quote from: ELbeee on May 09, 2024, 10:14:11 AM

With CEX, I feel more in control of my trades and appreciate the faster transactions and higher liquidity

In centralized exchanges you have anything but control, the exchange is the one in control of whatever you deposit into their platform, and your funds can even be confiscated at anytime, what they even do with the data you submit to them is out of your control. I respect your opinion of choosing centralized exchanges, but i disagree with you on your point on control.

ELbeee

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Quote from: Phoenixtrader on May 08, 2024, 10:35:29 AM

Hey mates, good day to y'all

CEX and DEX are two different beasts when it comes to rewarding users. But which one actually offers more goodies??

CEX:

- Trading fees, discounts, and loyalty programs
- Faster transactions and higher liquidity

DEX:

- Token incentives, governance participation, and community love
- Decentralization, security, and community control

Did I miss anything? You can add more. But Do you prefer the traditional approach of CEX or the community-driven vibes of DEX? Let's talk.

Comparing CEX and DEX is like comparing apples and oranges - both have their unique perks. Personally I prefer CEX over DEX for its ease of use and rewarding features. CEX offers trading fees, discounts, and loyalty programs that helped me maximize my gains; accompanied with some decent deals for new users to kickstart their trading journey. Similar to the Bitget 15 USDT download bonus I read about on X. While DEX has its advantages, With CEX, I feel more in control of my trades and appreciate the faster transactions and higher liquidity

bitmover

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Quote from: NotATether on May 09, 2024, 03:41:16 AM

Who cares about the rates? How much are you even going to make from the exchange rewards anyway?

I agree. Exchanges rewards as negligible.

The only way to make good money in exchange rewards is by using referral links if you own a very popular website/youtube channel/ twitter, etc etc...

Other than that, you shoudn't decide to use CEX / DEX based on those rewards.

And mk4 is right, you might get a lot of money in airdrops if you use new DEX services in some blockchains.

NotATether

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The exchange which rewards you by not selling our your data and not fractional-reserving your coins to the point where they go bust is the most rewarding platform. Who cares about the rates? How much are you even going to make from the exchange rewards anyway? They are negligible unless you already have millions of dollars, in which case why even bother?

Darker45

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Despite having higher fees and even if there are no discounts and loyalty programs, DExes will probably be more supported by users if only transactions are faster and liquidity higher. It's probably enough for them to be guaranteed of safety of their funds and given absolute control over them for users to forget about CExes. Unfortunately, however, inconvenience is a priority to users and CExes are the ones that offer it.

As for me, as much as I'm in support of DExes, the low liquidity which results to lower offers is indeed discouraging.

hugeblack

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If there is an option to use CEX without AML/KYC, it is definitely better. DEX using a decentralized blockchain is slower and has higher fees than CEX, and some prefer compromise solutions such as using Layer2 or central networks with low fees like BSC, but in any case, CEX without AML/KYC is better and Do not trust them with large amounts.

Topic: CEX or DEX: Which One Rewards You More? (Read 211 times)