Topic: Decentralized Exchanges Vs Centralized Exchanges (Read 516 times)
Most of the trader didn't want to pass the kyc and they didn't want to utilize their time by kyc, so they simple started trading in these type of exchanges which didn't want kyc, so they made easy for themselves and exchange in dex exchanges just like pancakeswap, so it needs only wallet of the trader whether trust wallet etc. I think kyc is good option.
I don't even understand why people hated KYC in using CEXs, --for me does not a problem as long as the exchange is reliable and trusted enough.
Because there is no such thing as a reliable or trusted centralized exchange.Even the biggest and most "trusted" centralized exchanges have let their customers' KYC details fall in to the hands of third parties. Binance were hacked for thousands of users' worth of KYC details. Coinbase were actively selling customer information to third parties. It's impossible to keep track of the number of smaller exchanges which have had customer information lost, hacked, stolen, or sold. Every time you complete KYC at any exchange or service, you run the risk of your information ending up on black markets, being bought by criminals, and being used to commit financial crimes or fraud.
Its true that whether using DEX or CEX then its a personal choice because we do have different needs and preference.
I agree. Someone chooses DEX or CEX because he/she has a reason, it should be respected. Even CEX may require KYC, doesn't mean it is totally dangerous. What we must avoid is to use untrusted CEX or DEX, the risk should be higher for using them. While for trusted (reputable) exchanges, it is not really a problem to use them even they CEX or DEX. FYI, I used both CEX dan DEX, I have no problem using them so far.
Its true that whether using DEX or CEX then its a personal choice because we do have different needs and preference.
I agree. Someone chooses DEX or CEX because he/she has a reason, it should be respected. Even CEX may require KYC, doesn't mean it is totally dangerous. What we must avoid is to use untrusted CEX or DEX, the risk should be higher for using them. While for trusted (reputable) exchanges, it is not really a problem to use them even they CEX or DEX. FYI, I used both CEX dan DEX, I have no problem using them so far.I don't even understand why people hated KYC in using CEXs, --for me does not a problem as long as the exchange is reliable and trusted enough. I also used DEX if necessary but usually, when I was selling my token there I use DEXs. That is right, we have different preferences, like and dislike and I think no matter it is decentralized or centralized exchange as long as you are comfortable in your trading that is fine.
Its true that whether using DEX or CEX then its a personal choice because we do have different needs and preference.
I agree. Someone chooses DEX or CEX because he/she has a reason, it should be respected. Even CEX may require KYC, doesn't mean it is totally dangerous. What we must avoid is to use untrusted CEX or DEX, the risk should be higher for using them. While for trusted (reputable) exchanges, it is not really a problem to use them even they CEX or DEX. FYI, I used both CEX dan DEX, I have no problem using them so far.
Recently, we heard a lot of issues about centralized exchange especially the China crackdown on some centralized exchanges like they have this law for people of China about restricted to have activities on most the centralized exchanges.
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
Now we can't say which one is better but we are all have preference is decentralised so let's try to compare both,
Centralisation involves systemic and consistent reservation authority. Decentralised involves systemic dispersal of authority. Decision making is slow in cex and comparatively faster in dex. The main advantages are cds has proper coordination and leadership but in dec sharing of burden and responsibility. Decision making lies with the top management in cd cex and multiple persons have the power of decision making in dex.
it isn't really that possible when you do deal with DEX which it is really understandable on this kind of situation.
Its true that whether using DEX or CEX then its a personal choice because we do have different needs and preference.
Recently, we heard a lot of issues about centralized exchange especially the China crackdown on some centralized exchanges like they have this law for people of China about restricted to have activities on most the centralized exchanges.
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
Now we can't say which one is better but we are all have preference is decentralised so let's try to compare both,
Centralisation involves systemic and consistent reservation authority. Decentralised involves systemic dispersal of authority. Decision making is slow in cex and comparatively faster in dex. The main advantages are cds has proper coordination and leadership but in dec sharing of burden and responsibility. Decision making lies with the top management in cd cex and multiple persons have the power of decision making in dex.
For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
I understand that all the decentralized exchanges are on smart contract and not for native blockchain based coins (please correct me if I am missing anything); if it is true then what is the point of calling them as decentralized exchange whereas they should be called as dApps exchange or smart contract exchange?A decentralized exchanging might have become possible only because of smart contracts? I do not think so. There are many other methods are available to have P2P exchange (to ensure decentralization) other than smart contract but we are having only smart contract based exchanges and comparing it with our traditional way of exchanges which is versatile to handle both native blockchain and dApps tokens.
...Also, a lot of DEXs actually have very low liquidity, unless, you are in popular platforms like pancakeswap or uniswap. So in this case, the use of DEX or CEX depends on the trader's preferences. You can't expect every trader to go for DEX because they have other considerations to look at.
If we consider coins created on the Ethereum blockchain, the best way today is to trade them on centralized exchanges, since the commission on the DEX network completely levels your profit. At the same time, using DEX will allow an investor to buy a coin at the lowest price even before listing on CEX. In any case, today we have to use these two types of exchanges in accordance with our goals.
It's not only the pros and cons of centralized and decentralized exchange. Marketing plays a huge role too, decentralized exchanges will never be able to financially surpass the centralized ones. Average Joe doesn't care much whether he will have to upload the KYC documents or not. The argument is following: I am doing everything legally, so what I have to hide? How will they benefit via my decomunts? The average Joe doesn't find opposite answers on this questions and then he continues his registration, that's all, the truth, a brief story of the situation that happens right now.
You are not wrong however it is possible that in the future we are going to see some push back against those policies, for example that push back is already coming in the form of bitcoin, decentralized exchanges and the people like us which are using them, however sooner or later more people will begin to wake up to the fact thy are giving all of this information to those private companies and at some point they will want to look for an alternative, and when they do, this market will be there to give them a chance to avoid those practices. legendary
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I liked the decentralized exchanges. Because decentralized exchanges are more safe and secure then the centralized exchanges. Decentralized exchanges are in our control and there is no central authority that is controlling decentralized exchanges. But centralized exchanges are in control of an owner. And anytime they can allow or block our account. That is why i prefer decentralized exchanges then centralized exchanges.
With the way things are going, the current decentralized exchange that are trending now aren't the best example of decentralization. For example, they're the ones getting hacked recently as hackers have been able to exploit the exchanges due to finding a bug in the code and since 90% are just copy cats of each other, this hackers have been able to repeat this hacks on multiple occasions.
We're far from perfection when it comes to total decentralization but surely we'll get there someday. For now when ever you used this said exchange that ar decentralized, don't think you're totally decentralized as one way or the other there's a centralized features that is yet to be uncovered. Idex that was once the leading decentralized exchange, ended up requesting their customers to pass mandatory KYC procedure.
It's not only the pros and cons of centralized and decentralized exchange. Marketing plays a huge role too, decentralized exchanges will never be able to financially surpass the centralized ones. Average Joe doesn't care much whether he will have to upload the KYC documents or not. The argument is following: I am doing everything legally, so what I have to hide? How will they benefit via my decomunts? The average Joe doesn't find opposite answers on this questions and then he continues his registration, that's all, the truth, a brief story of the situation that happens right now.
Recently, we heard a lot of issues about centralized exchange especially the China crackdown on some centralized exchanges like they have this law for people of China about restricted to have activities on most the centralized exchanges.
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
Decentralized exchanges have always been the future of bitcoin and the market in general, bitcoin is a decentralized currency that runs opposite to the goals of the governments of monitoring and controlling every single transaction that you make, so it is obvious they are going to use their power to go against any form of centralization that exists in the market, governments went against the mining industry and against centralized exchanges, so as long as decentralized exchanges can deliver a decent performance compared to what we see with centralized exchanges they will come to eventually dominate this market. And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
Recently, we heard a lot of issues about centralized exchange especially the China crackdown on some centralized exchanges like they have this law for people of China about restricted to have activities on most the centralized exchanges.
And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
DyDx and Serum have really revolutionized decentralized exchanges and their mechanisms the earlier decentralized exchanges were not only slow but very expensive as most of them were based on the Ethereum blockchain but the news ones especially the one's coming on solana blockchain like Serum are extremely fast and cheap, even DyDx despite based on Eth blockchain has managed to keep itself cheap and offered vast variety of perpetual contracts, I think if you are not a scalper or a day trader, the decentralized exchanges are excellent for you but if you are a scalper or day trader better go with centralized exchanges only. And here's the decentralized exchanges starting to make some noise, and I always heard dydx exchange, serum, uniswap, etc.
So, as traders. For you, what is/are the advantage is disadvantages of using decentralized exchange over centralized exchange these days?
I liked the decentralized exchanges. Because decentralized exchanges are more safe and secure then the centralized exchanges. Decentralized exchanges are in our control and there is no central authority that is controlling decentralized exchanges. But centralized exchanges are in control of an owner. And anytime they can allow or block our account. That is why i prefer decentralized exchanges then centralized exchanges.
You are right. Decentralised exchange is safe and secure and there are no need kyc verification This is a very good aspect for us. personally i also like Decentralised exchange. But i used centralized exchange for use p2p trading for convert crypto with Fiat money But sometimes, you can't avoid to use centralized exchanges because there are some alts that you can't find in DEX. So you have no option but use the centralized trading platform. Also, a lot of DEXs actually have very low liquidity, unless, you are in popular platforms like pancakeswap or uniswap. So in this case, the use of DEX or CEX depends on the trader's preferences. You can't expect every trader to go for DEX because they have other considerations to look at.
I liked the decentralized exchanges. Because decentralized exchanges are more safe and secure then the centralized exchanges. Decentralized exchanges are in our control and there is no central authority that is controlling decentralized exchanges. But centralized exchanges are in control of an owner. And anytime they can allow or block our account. That is why i prefer decentralized exchanges then centralized exchanges.
You are right. Decentralised exchange is safe and secure and there are no need kyc verification This is a very good aspect for us. personally i also like Decentralised exchange. But i used centralized exchange for use p2p trading for convert crypto with Fiat money
I liked the decentralized exchanges. Because decentralized exchanges are more safe and secure then the centralized exchanges. Decentralized exchanges are in our control and there is no central authority that is controlling decentralized exchanges. But centralized exchanges are in control of an owner. And anytime they can allow or block our account. That is why i prefer decentralized exchanges then centralized exchanges.
in my opinion the main difference is that when trading on DEX, your cryptocurrency remains in your wallet, and when trading on CEX, you transfer your money to the exchange account.
Those loading wallet in DEX can be our personal wallet but in order to make a trade, you must need to move your coins to exchange's wallet; from this moment DEX and CEX are not have big differences. Moreover, I never use my personal addys for signing up a DEX but I do generate on DEX itself. So, just having the seed/privatekey does not mean that I am using my personal wallet.The main disadvantage of decentralized exchanges is, it is less liquid than most centralized exchanges.
Yeah, only low volumes do happen at most of the DEX as most trades are real in DEX unlike in CEX where bots are being incorporated to populate fake orders to show no gap in price levels and to show good volume (I am not blaming all the CEX but I had experienced such in most places I have tried to trade).
There are a lot of differences between decentralized exchanges and centralized ones, but in my opinion the main difference is that when trading on DEX, your cryptocurrency remains in your wallet, and when trading on CEX, you transfer your money to the exchange account. And this in fact means that the exchange is the owner of your cryptocurrency and it can theoretically block your deposit.
Decentralized and centralized exchanges,both have responsibilities to the company,but different sector to manage,Decentralized exchanges-tranfering ,conyrolling and decisioning.Centralizeds exchange,single and individuals in one place.That's why both need to accompany.
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