Compliance exchange or decentralized exchange, which one do you prefer? - page 2.

stomachgrowls

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Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

There are several threads already about the comparison or on the talks between centralized and decentralized exchanges.

https://bitcointalksearch.org/topic/centralized-and-decentralized-exchanges-5104208
https://bitcointalksearch.org/topic/centralized-exchanges-vs-decentralized-exchanges-5165454

On topic, the main difference between the two excluding the privacy thing is that centralized exchanges do have fiat pairs
and thats the main reason why anyone do end up on using cex and we can actually see the difference when it comes to volume or liquidity.

Coin919pro

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Quote from: justdimin on April 10, 2020, 01:16:29 PM

Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

I still prefer the compliance exchange because they are at least validated most of the time, not the small timers because they are basically as anon as dex ones gets but at the same time think about stuff like Binance and Poloniex and Bittrex and all the other ones that big, these are known and they are huge so we all know their headquarters and their CEO and their information as well, so when something goes wrong we could at least blame them.

Remember mt.gox for example, they did get "hacked" but right now they are in loads of trouble as well so at least we know that something as big as binance can't steal because if they do they will be jailed. It is quite obvious that they are going to keep it steady, maybe they will get hacked for real but they will not be "hacked" like exit scam.

If something goes wrong, will they be imprisoned? I suggest you pay attention to the incident of their boss after Fcoin carried tens of thousands of BTC. Many people are reporting him and looking for him everywhere, but he is still at large.

Coin919pro

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Quote from: sheenshane on April 10, 2020, 07:17:41 AM

Whether it is a decentralized or centralized exchange but traders always looking at the liquidity of the exchange. The market volume and the number of trading pairs. And the second priority is security, as long as the exchange has been built a strong reputation that is fine to them. Both of them had pros and cons that might we can benefit the most.

Here is my short insight between them.
Decentralize:

Not recommendable to newbies
Low liquidity
Anonymous/Anonymity
You have a full control of your fund

Centralized:

Easy to use by newbies and has advance feature
Good in terms of Liquidity
They are the third party between traders and they are controlling your fund, not you
Collecting your personal identities and should pass KYC

Now, you think which better for you.

Regulated exchanges like Coinbase are more suitable, but for most "global" exchanges, security issues cannot be reassured.

For Chinese like me, it is not allowed to trade on coinbase

Coin919pro

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Quote from: Ucy on April 10, 2020, 06:49:27 AM

I will go for the safest... Properly decentralized exchanges are safest for me. I can't imagine leaving lots of coins on centralized exchanges long-term. Lots of bad thing could happen to it. But with a fully decentralized exchange, you control your keys... you can hide your keys and take your minds off your coins as long as you want-- peace of mind.
By the way, the centralized exchanges can change their policies anytime and that could affect your ability to access your funds or use them easily. Decentralized exchanges are great.

Yes, which DEX are you using now?

GreatArkansas

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It is always different on what the user or trader needs.
For example, if the trader want some low trading fees since he/she is a scalp trader or trader who always have positions, then for sure he/she will choose the centralized one. But if you are a trader and got no problem in any KYC if that centralized exchange will ask for KYC, then it will be no problem.

rexxarofmoknathal

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For me decentralised exchanges have always worked and honestly I do not see the need to go for compliance exchanges since the risks are so much higher - at least in my opinion anyway. I just dislike the idea of sharing my account details, outsourcing has not really been my thing since I'm more wary of scams and I'd rather keep my investments as safe as I can.

The Cryptovator

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Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

There some positive and negative things for both type of exchange centralized & decentralized. When question come to centralize then first thing come into mind about security management. But when question come to the decentralize exchange first concern is regarding volume. On the other hand its quite hard to find your expected trading pair on decentralized exchanges. They mostly based on ethereum chain so basically they list same tokens. In a result lots of shitcoin will be available there which would lead you huge lost later on. But a reputed centralized exchange do their own diligence before list and even create voting system to get traders opinions. You should prepare yourself for KYC if you choose reputed exchanges with huge volume, because you will not found huge volume on decentralized exchange. So at the beginning I will prefer to start with a reputed & trusted centralized exchange to learn more because it's quite easy than decentralized exchanges.

justdimin

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Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

I still prefer the compliance exchange because they are at least validated most of the time, not the small timers because they are basically as anon as dex ones gets but at the same time think about stuff like Binance and Poloniex and Bittrex and all the other ones that big, these are known and they are huge so we all know their headquarters and their CEO and their information as well, so when something goes wrong we could at least blame them.

Remember mt.gox for example, they did get "hacked" but right now they are in loads of trouble as well so at least we know that something as big as binance can't steal because if they do they will be jailed. It is quite obvious that they are going to keep it steady, maybe they will get hacked for real but they will not be "hacked" like exit scam.

mersal

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Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

Trust and reputation is an important factor for choosing anything centralized so people will go for most reputed exchanges like binance,kucoin and in decentralized exchanges also everything can't be trusted so find an exchange which has good reviews if it says they are decentralized.

traderethereum

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I prefer with a centralized exchange, and I don't mind to send the document that they needed to verify my account. But I only use the recommended exchange to prevent something bad that can happen. I have a terrible experience with some decentralized exchange which makes me trauma, but that doesn't mean I don't want to use that exchange. I still have some tokens in the decentralized exchange, and I still trade in that exchange though I don't trade too often.

minairia3

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Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

To tell you honestly, this isnt about which one. I am using both and so far it has come with advantages and disadvantages.

Which one you like first? Okay lets go with decentralized exchange. I like the freedom we can get from using this, but sometime I am not happy with the volume or the book order of the token Ive wanted to trade, obviously its not comparable to centralized exchange. But good thing is I can avail cheaper and out of the market price bargain tokens.

Now, on the centralized exchange, you can call them perfect and has a friendly user platform especially those big one such as Binance, Kucoin and Bithumb. Very easy to use, what I dont like is if you want to increase your daily volume or token traded you need to pass KYC which sucks. Thats all there is to hate but for the purpose of anti money laundering. I can accept it.

sheenshane

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Whether it is a decentralized or centralized exchange but traders always looking at the liquidity of the exchange. The market volume and the number of trading pairs. And the second priority is security, as long as the exchange has been built a strong reputation that is fine to them. Both of them had pros and cons that might we can benefit the most.

Here is my short insight between them.
Decentralize:

Not recommendable to newbies
Low liquidity
Anonymous/Anonymity
You have a full control of your fund

Centralized:

Easy to use by newbies and has advance feature
Good in terms of Liquidity
They are the third party between traders and they are controlling your fund, not you
Collecting your personal identities and should pass KYC

Now, you think which better for you.

Ucy

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I will go for the safest... Properly decentralized exchanges are safest for me. I can't imagine leaving lots of coins on centralized exchanges long-term. Lots of bad thing could happen to it. But with a fully decentralized exchange, you control your keys... you can hide your keys and take your minds off your coins as long as you want-- peace of mind.
By the way, the centralized exchanges can change their policies anytime and that could affect your ability to access your funds or use them easily. Decentralized exchanges are great.

Coin919pro

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Quote from: TheUltraElite on April 10, 2020, 02:31:32 AM

Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

How about waiting it out till there appears some regulation among crypto exchanges as what should be the average listing fees and the average listing time. We have seen exchanges cheat on ICO project owners, even if the latter are nothing but scams, asking for exorbitant sums of money for listing their coins. They have no chance but to move to a less known more suspicious exchange for allowing trading of their coin.

Decentralized exchanges do avoid this situation but the scams will never decrease. Since the owners of DEXs remain anonymous in most cases they are hard to track down without cybercrime support. Even then recovering the funds is something that nobody is capable of without bruteforcing the private key.

The legal aspects of usage and trading of crypto is what is needed next before anything can be done in this sector.

YES!Perhaps we need to understand whether these thousands of digital currencies are necessary before the exchange. There are only a handful of digital currencies that can show value.

Coin919pro

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Quote from: Btcbeginners on April 10, 2020, 12:50:09 AM

Both regulated compliance and decentralized exchanges are good where selecting exchange is different from your requirement. In the current industry, still, Dexes provides limited functionalities of trading in terms of liquidity, speed, charts, and different types of trading techniques like margin, futures, and OTC. If you looking perfect solution, you have to choose the proper centralized exchange.

Centralized exchanges have road risks and capital security risks, and the government is not friendly to digital currency exchange policies.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Coin919pro on April 09, 2020, 10:40:16 PM

There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

How about waiting it out till there appears some regulation among crypto exchanges as what should be the average listing fees and the average listing time. We have seen exchanges cheat on ICO project owners, even if the latter are nothing but scams, asking for exorbitant sums of money for listing their coins. They have no chance but to move to a less known more suspicious exchange for allowing trading of their coin.

Decentralized exchanges do avoid this situation but the scams will never decrease. Since the owners of DEXs remain anonymous in most cases they are hard to track down without cybercrime support. Even then recovering the funds is something that nobody is capable of without bruteforcing the private key.

The legal aspects of usage and trading of crypto is what is needed next before anything can be done in this sector.

Btcbeginners

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Both regulated compliance and decentralized exchanges are good where selecting exchange is different from your requirement. In the current industry, still, Dexes provides limited functionalities of trading in terms of liquidity, speed, charts, and different types of trading techniques like margin, futures, and OTC. If you looking perfect solution, you have to choose the proper centralized exchange.

Coin919pro

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There are more and more centralized exchanges, but less and less trust. Which one do you prefer between regulated compliance exchanges and decentralized exchanges?

Topic: Compliance exchange or decentralized exchange, which one do you prefer? - page 2. (Read 284 times)