Topic: Decentralize - page 2. (Read 436 times)
Decentralized exchange and products put the control to the user. A centralized exchange is controlled by the owners. Once you put your money in there, you already lost control over it and became under the mercy of the owners. Unfortunately, dex is not that popular and more people trust centralized exchange.
Why we need to prefer decentralized exchange and decentralized products?
I think when it comes to freedom and anonimity there are no issues when it comes to using decentralized exchange sites. But a lot of people are now choosing centralized exchange sites because the transactions are faster and decentralized exchange sites has to deal with that.
I want to be free.
I don't like being tracked or spied on, I usually want to get out of anyone's sight since I am a bit of a shy person. Decentralized cryptocurrencies might be risky because it is volatile and such but I do like to use it and also, I can get a profit out of it. Also, it is not that bad to try new things and our country supports it that makes it better.
I don't like being tracked or spied on, I usually want to get out of anyone's sight since I am a bit of a shy person. Decentralized cryptocurrencies might be risky because it is volatile and such but I do like to use it and also, I can get a profit out of it. Also, it is not that bad to try new things and our country supports it that makes it better.
Why we need to prefer decentralized exchange and decentralized products?
Okay, this is one of the basic but very important question when dealing with things like the exchanges and even the blockchain, cryptocurrency and bitcoin. So why are preaching the good news of decentralization away from the centralized controls of many institutions traditionally serving the society? One thing is control...with centralization we are at the mercy at the powers holding the key to the centralized platform. Of course, the best example of this is the government and the many financial firms holding the sway and influence of our economy and money. With centralization, we are ceding the power on our hands and hand it to people whom we don't know much. With decentralization, there is no single entity or an elite group that's controlling the deciding power. Now, you decide, whether decentralization is for you or you still prefer the centralized set-up of things.
Why we need to prefer decentralized exchange and decentralized products?
Decentralization refers to freedom because it says that you can hear various opinions. Centralization says the opposite, only one opinion will be heard. Therefore, everything is a matter of freedom.
We benefits from DEX exchange by having lesser fees and and some offers no KYC so our privacy is secured.
And with decentralized products allows us to spend our funds freely withouth someone tracing or regulating our usage of a specific asset/currency like what we have,Bitcoin.
And with decentralized products allows us to spend our funds freely withouth someone tracing or regulating our usage of a specific asset/currency like what we have,Bitcoin.
DEX allows you to go for direct trades with much lesser fees and full privacy as you don't need an account there to trade
The current options are not fully decentralized. The larger ones (like IDEX) have implemented KYC. In many ways, using a DEX can be less private, since transactions are recorded on chain.
Why we need to prefer decentralized exchange and decentralized products?
Bitcoin was created to remove trusted intermediaries from transactions. It allows peers and merchants to cut banks and payment processors out of their financial activities.
Decentralized exchanges strive to bring this idea of trustlessness to the P2P exchange of cryptocurrencies. Centralized exchanges have been getting hacked since the beginning -- Mt Gox, Bitcoinica, Bitfinex, etc. A DEX allows traders to hold their own private keys, so they don't need to trust a centralized exchange to hold custody of the coins.
Why we need to prefer decentralized exchange and decentralized products?
DEX allows you to go for direct trades with much lesser fees and full privacy as you don't need an account there to trade, your privkey is enough for you to sign in and some DEXs also provide you with a unique URL that you need to keep saved with ya to get back into your "account" where you put your funds at. No need to worry as such URLs ask you your password that you set when you visit them for the first time and nobody can actually harm your capital until they know almost everything from your privkey to the password that you've in your brain. As there is no such mediator with any records except the exchange itself, you don't need to do a KYC here and can trade limitless which is one great feature that I'd like to applaud for. Same applies to decentralized products which lets you do anything under the hood without the fear of having anyone knowing what you're doing (feels like Satoshi). Decentralized apps are there to provide you with the almost same or even better security as well as experience you get over centralized apps, but without knowing you as they're not interested in tracing you while also allowing you to use those apps without any discrepancies.
Why we need to prefer decentralized exchange and decentralized products?
It is for our anonymity for being free from the centralized products .To be able to feel freedom it is the reason why most of us are here in crypto to be free from the banks and any third party.
We need it because it is cheaper compare to centralized exchange and products.
Why we need to prefer decentralized exchange and decentralized products?
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