Topic: Decentralized Exchange vs. Centralized Exchange - page 2. (Read 270 times)
Decentralized exchange is good for privacy but in centralized exchange you need to approve on identity which is a bad thing for those user who don't want to leak there funds while in decentralize what makes good about it you can withdraw unlimited amount of money but you get low volume price.
i have bad experience on decentralized exchange (etherdelta), i login using private key to sell my tokens there.
initially safe, but after that I lost my valuable tokens.
I think the centralized exchange is better than decentralized, you have to enable 2fa security to secure your assets.
initially safe, but after that I lost my valuable tokens.
I think the centralized exchange is better than decentralized, you have to enable 2fa security to secure your assets.
Well for me I prefer centralized exchanges because the price is high there compare to decentralized exchanges. Also centralized exchanges is easy to use with a good user interface, decentralized exchanges is kind of confusing for beginners so I prefer centralized exchanges
I would definitely use decentralized exchange IF it works as smooth as the centralized exchange. The reality of decentralized exchange is it is still not as good as the centralized exchange, I'm not sure if there's something in the technological aspect that's slowing it down or is it just under development. I do hope someday we could have a decent decentralized exchange. Meanwhile, I have no issue using centralized exchange, I would trade that potential security issue with ease of use.
With decentralized exchanges, brand new tokens are always listed there first so you can buy them for cheap when they first come out. But decentralized and centralized have the same probability of being hacked. Etherdelta is decentralized and was attacked late last year. And it's very important to not leave your coins like btc or eth on any exchanges and withdraw them onto a hardware wallet like a ledger nano for better protection.
I currently use both types but it seems like the bulk of the trading volumes will be on centralized exchanges like Binance, Bittrex, Upbit, etc. Most of the time, you'll get a better value for your cryptocurrencies on the centralized exchanges.
Decentralized Exchange now has so much room to grow, against a centralized exchange, like user interface and speed in trading and loading, it is in working progress for decentralized and if achieved the same features with centralized I will prefer it. But as of now I prefer a centralized exchange.
I would prefer a decentralized exchange as in case of it you are not that dependent on the exchange's owner and more or less protected from internal manupulations on their side.
In Decentralized Exchange, user can control their own fund. It is fast, effective and anonymous with no personal documents required to apply.
It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
I am confident that the future of decentralized exchanges and 2019 will be the year of transition from centralization to decentralization. Already now there is an excellent Protocol 0x, which is ready for use. Obviously, the exchanges will either use it or develop their own Protocol. But the principle laid down in cryptocurrencies does not just hint, it implies decentralization by default. It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
Of cos I will choose a decentralised exchange because of its numerous advantages like you control your private key, and good project get listed without paying heavily like what centralized exchange is collect now to list a coin.
In Decentralized Exchange, user can control their own fund. It is fast, effective and anonymous with no personal documents required to apply.
It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
decentralize exchanges was craeted by people too who have access to its system which makes these decentralized exchanges a little centralized too, that is why it is risky to use these DEX as you can see few people can still access its system,because if no one will handle these exchanges who will fix if theres some problem with the exchange? but those centralized exchanges doesnt mean that they are more stable than dex as we know centralized exchanges are more popular and reliable as the developers are working hard to prevent hack attempts. It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
Your comparison is to the point but personally i think that decentralized exchanges will only win when they will introduce user friendly interface and features identical to centralized exchanges, at the moment decentralized exchanged are hard to understand for most and also they only list and trade erc-20 tokens nothing else, we need some out of the box decentralized exchanges that provide all the utilities that a regular exchange provides.
Honestly I like decentralized exchanges, of course with CEX if you screw something up such as sending coins to wrong address support team might be able to help you while with true DEX it's like impossible. I don't care if I pay a bit more on DEX as long as I am sure that my funds are safe and secure. On DEX there are no limits and you are not obligated to give scan of your ID and reveal who you really are.
Problem with DEX however is lower volume and maybe not the best interface like some centralized exchanges have
Problem with DEX however is lower volume and maybe not the best interface like some centralized exchanges have
I definitely share the sentiment that decentralized exchanges are the future, I am only a bit worried that the common traders will stick with the centralized ones, so there may be liquidity issues when trading on the decentralized ones.
A supporter of the decentralized and anonymous. I've never seen things like "personal data" or anything like that. I don't have to tell you what my name is when I buy chips, why I have to do this with tokens. Anyway for me the crypto world is the salvation.
I do love to take risk with joining decentralized exchange where in only the market decide the price of tokens, as long as I can earned double, of course losses also is acceptable. One more thing is the security of course, it important.
Both type of exchanges have benefits, so I think that is is a good decision to use both of them. The problem with decentralized exchanges for now is the low volume on the exchanges. In the future I hope that the biggest exchanges turn to decentralized exchanges.
In Decentralized Exchange, user can control their own fund. It is fast, effective and anonymous with no personal documents required to apply.
It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
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