Topic: CEX or DEX: Which One Rewards You More? - page 2. (Read 360 times)
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.
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.
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. 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 liquidityCEX 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.
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..
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.
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?
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 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.
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. 
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.
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?
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.
As for me, as much as I'm in support of DExes, the low liquidity which results to lower offers is indeed discouraging.
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.
With DEX, it seems that every move you do is going to get you fees. As for the CEX, you can send fund transfer to the other users of the same platform without having to worry about fees because they have a feature of off chain transactions. And what we don't like with the cexes is the typical KYC, if there are no-kyc cex as of this time. You can probably count them with your figures anymore but as for the dexes, you don't have to worry about that but if it's about security of their platform, they're always being targeted by the hackers.
CEX:
- Better liquidity and better bang for the buck in general(most of the time)
- Risks of exchange hacks
- Risks of insolvencies
- KYC
DEX:
- airdrop opportunities, depending on the DEX
- non-custodial, doesn't need to deposit money onto a platform
- risks of exploits
- no KYC
Personally, I use DEXs because I don't like submitting AML/KYC unnecessarily.
- Better liquidity and better bang for the buck in general(most of the time)
- Risks of exchange hacks
- Risks of insolvencies
- KYC
DEX:
- airdrop opportunities, depending on the DEX
- non-custodial, doesn't need to deposit money onto a platform
- risks of exploits
- no KYC
Personally, I use DEXs because I don't like submitting AML/KYC unnecessarily.
CEX give better rates, while DEX is good for increase your privacy and avoid unnecessary drama that might happen in CEX.
It's weird how those swap platforms using many buzzwords like governance participation, it's more like a centralization since "big users" have a power to vote than Average Joe. The only true DEX that I know so far is Bisq.
Move this thread to Service Discussion, it's more suitable in there.
DEX:
- Token incentives, governance participation, and community love
- Decentralization, security, and community control
I believe you're talking about swaps, swaps isn't DEX.- Token incentives, governance participation, and community love
- Decentralization, security, and community control
It's weird how those swap platforms using many buzzwords like governance participation, it's more like a centralization since "big users" have a power to vote than Average Joe. The only true DEX that I know so far is Bisq.
Move this thread to Service Discussion, it's more suitable in there.
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.
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.
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