CEX provides security, DEX provides anonymity. Problem is, No matter how bad CEX is, or no matter how many exchanges get hacked, there would be some other company going to the stand. They would replace the said CEX which is bad, and be the good one. Rinse and repeat. CEX has the backing of a company so they could produce more and more and moreee and honestly, CEX provides a lot more chance that the business is going to do well. DEX on the other hand, is of the minority after all, and is used only at certain times, which makes it kinda like the 2nd option only, which defeats the purpose of most companies, to earn money.
There really aint any kind of safe service out there, It's just a matter of time when hackers hack exchanges, and its the exchanges job to prevent that and to improve their system for both the security and for the user.
Topic: CEX Vs DEX ? - page 3. (Read 518 times)
Both have their advantages but these days, the pros of using a DEX surpasses it cons. DEXs now sport an easy to use interface and are becoming quite fast.
The problem is that centralized exchanges are under attack from hackers and many are fraudulent exchange exchanges. such as IDAX, it has stolen tens of thousands of BTC from customers and now IDAX's CEO has not been arrested yet. This shows that the legal loophole in the crypto market is too big, and scammers can easily spread. If you continue to have scams like this come to larger exchanges, you will move to DEXs? I know that volume is not as big as CEXs but it is safer, do you agree with me?
I appreciate, absolutely not saying disagree. However, even though it always happens, it still makes the same/other CEX successfully attract more participants by strengthening a higher security system, for example, binance that is quickly recovering from a large hacking case that occurred in May.many previous exchanges have not been spared from larger hacking cases, despite having a very fatal impact on reputation, the reaction to migrating to dex still remains insignificant.
reference: https://coinsutra.com/biggest-bitcoin-hacks/
I know that volume is not as big as CEXs but it is safer, do you agree with me?
It is still questionable for me. The 'safer' side of dexes might comes from a lack of sophisticated attack from the crackers. There's also different dexes here, but if we're talking about those with smart contract as the backbone, then if a bug is found they can theoritically attack every single possible token on the platform.
IMO centralized exchange is probably still going to be dominant, especially if players like Binance still exist and keep on-going. It will be the users own responsibility to choose which one is the best from them. And that's true with dex. Doesn't matter if it's a dex or cex, if you use a bad one then you might lose your money in one way or another.
safe, but not too comfortable, people will think twice about using dex as a priority. Progress in 2020 depends on which market is more popular and pleases its users.
The reputation that comes from the problematic CEX will always be covered with better CEX and gives the best volume, users will only move their account to another CEX. I also monitor what happens with cryptobridge and idex. In the end, DEX will also lose their identity in decentralization because of 2 fundamental problems: 1. not being able to survive in exchange competition, 2. not being able to do much with strong regulatory pressure.
The problem is that centralized exchanges are under attack from hackers and many are fraudulent exchange exchanges. such as IDAX, it has stolen tens of thousands of BTC from customers and now IDAX's CEO has not been arrested yet. This shows that the legal loophole in the crypto market is too big, and scammers can easily spread. If you continue to have scams like this come to larger exchanges, you will move to DEXs? I know that volume is not as big as CEXs but it is safer, do you agree with me? The reputation that comes from the problematic CEX will always be covered with better CEX and gives the best volume, users will only move their account to another CEX. I also monitor what happens with cryptobridge and idex. In the end, DEX will also lose their identity in decentralization because of 2 fundamental problems: 1. not being able to survive in exchange competition, 2. not being able to do much with strong regulatory pressure.
safe, but not too comfortable, people will think twice about using dex as a priority. Progress in 2020 depends on which market is more popular and pleases its users.
The reputation that comes from the problematic CEX will always be covered with better CEX and gives the best volume, users will only move their account to another CEX. I also monitor what happens with cryptobridge and idex. In the end, DEX will also lose their identity in decentralization because of 2 fundamental problems: 1. not being able to survive in exchange competition, 2. not being able to do much with strong regulatory pressure.
The reputation that comes from the problematic CEX will always be covered with better CEX and gives the best volume, users will only move their account to another CEX. I also monitor what happens with cryptobridge and idex. In the end, DEX will also lose their identity in decentralization because of 2 fundamental problems: 1. not being able to survive in exchange competition, 2. not being able to do much with strong regulatory pressure.
Recently I have seen many people whining about exchange fraud and some of them stopped working and took away all investor money. So in my head, I now have the thought that will 2020 be the trend of DEX?
I will give a brief summary of CEX and DEX. CEX stands for centralized exchange where all your money is managed by exchange, it has its own wallet system and money is transferred there.
DEX stands for a decentralized exchange, and there, you trade the number of coins in your wallet with someone else's wallet and there are absolutely no middlemen in between.
So with many incidents happening at CEX, will there be more people trading in DEX in 2020? Although trading at DEX costs more, it is safer for us and we do not need to make any KYC.
I will give a brief summary of CEX and DEX. CEX stands for centralized exchange where all your money is managed by exchange, it has its own wallet system and money is transferred there.
DEX stands for a decentralized exchange, and there, you trade the number of coins in your wallet with someone else's wallet and there are absolutely no middlemen in between.
So with many incidents happening at CEX, will there be more people trading in DEX in 2020? Although trading at DEX costs more, it is safer for us and we do not need to make any KYC.
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