Topic: Decentralized vs centralized cryptocurrency exchanges, which one is better? - page 6. (Read 1147 times)

Ideally, decentralized exchanges are nice especially as it relates to privacy and censorship.But there are currently not very effective and do raise some legitimacu concerns as regard trading stolen tokens .Centralized exchanges do present a single point of failute as they can be hacked or shut down by the government. btce-e.com is an example.some of my funds are still trapped there

BINANCE DEX CONDUCTING COMPETITION FOR TRADERS

Binance cryptocurrency exchange announced the launch of a contest for traders who want to test the capabilities of its new decentralized trading platform. The prize fund of the tournament is 10,000 BNB.

Any user of the main Binance site, who has at least 1 BNB, is allowed to participate in a simulated trading contest. Each Binance.com account that qualifies for the contest will be able to register a maximum of 20 Binance Chain addresses and will receive 200 BNB test tokens for each of them before the tournament starts.

The competition itself starts on March 7 at 8:00 UTC (the time until which registration should be completed), and consists of two parts.

The first part is a contest for the most healthy volatility of tokens that users can issue at the Binance Chain test network and applies only to token / BNB pairs. The starting price of each issued token should be 1 BNB, while there are no restrictions on their emission.

The winner of this competition will receive 3000 real BNB tokens, runner-up - 2000 BNB, third place –1000 BNB.

The second competition is designed to determine the winner by the absolute profit derives the from trading activity. The winner will receive 1000 BNB, the second place will receive  700 BNB, third place will receive 300 BNB. Additionally, 1,000 BNBs will be distributed among users taking 4-10 and 11-20 places.

Thanks a lot!:)

Thanks for the info. I merit this post.

The only reason why the centralized exchanges are already existing is dex are in their early stages now. Their UI not user friendly, no proper knowledge to users and the users using them are very low. The privacy issues and security issues are enough for centralized exchanges to be dumped for good.

For some reason, it is considered that today there is a very large number of possible manipulations in a centralized space. But today, there are methods of struggle for this. It is for this purpose that the choice is made in favor of centralization.

Switcheo decentralized cryptocurrency exchange launches its own over-the-counter platform

The project promises that the use of its existing smart contracts on the Ethereum and NEO blockchains will allow users to carry out transactions without counterparty risks and with extremely low commissions. The public beta test of Switcheo OTC starts on March 4th.

To attract traders to the new OTC platform, Switcheo will provide an opportunity for commission-free trading during the first month. In the future, users will be able to use SWTH tokens to get discounts on commissions.

Initially, Switcheo OTC will support a limited set of tokens and will not allow the exchange of assets issued on different blockchains. After upgrading the NEO V3 to the OTC platform, all compatible ERC20 and NEP5 tokens will be issued, including even those that are not in the main order book.

NEO plans to launch DEX

NEO co-founder Fabio Canesin at Neo DevCon 2019 announced the launch date for the Nash decentralized cryptocurrency exchange. Canesin and the rest of the Nash team are ready to submit to the community an application that includes all the features of the DEX.

Prior to the immediate launch, the NEO community was asked to test the software in order to identify all potential bugs and vulnerabilities. According to sources, the launch of the beta version of Nash is scheduled for March 31.

According to the team, the Nash exchange is designed to eliminate all the problems of centralized cryptocurrency exchanges. In this case, Nash is not a simple DEX. Canesin himself describes it as a "financial platform for the economy of the future."

As much as i know both cex and dex plays a significant role in the crypto market, but for now i would stick to the centralized exchange because some of them they have really gain much ground, and not every crypto enthusiast know how to operate dex by the way, between most cex have such cool and easy to use interface that suite both experience and inexperience traders, almost everyone in crypto community wants to see their token listed on Binance even though it's centralized exchange.

I think currently centralized exchange is better then decentralized exchange because they already got the trust from crypto lovers and we already considered the top cex is the good one. DEX is new player in the crypto market and many new coin can be easily available in their market meanwhile to cex usually review  the new coin before available in their market.

Centralized exchange site will always have the largest trade volume than decentralized because the government/senior regulators can meddling into exchange affairs and what the government want is to be able to control cryoto currency market. But, decentralized exchange are the exchange that protect the legacy of crypto currency birth.

I prefer a centralized model, because I think an exchanger must be managed by an individual or a team, not the user himself.

Decentralized exchanges are better because it obeys to the crypto's nature! But there is no crowd in Decentralized exchanges. All those centralized exchanges have huge volume but DEX has very low! Every year, big centralized exchanges have been hacking or scamming but still, people keep using it! The decentralized exchange is free and open for everyone to use, and there are no obstacles to trade, withdraw your assets. But in centralized, you have to go through a KYC procedure and therefore your money anytime can be hacked or compromised from the exchange. So, we need to move on to DEX and I hope within two years people will realize it and DEX will have good volume.

With decentralization, you yourself are the owner of your funds, and all responsibility lies with you. With centralization all the way around, while you have no guarantees. The choice is yours.

Well, I personally think its up to the users few are comfortable with centralized and few are comfortable with decentralized but all we need to focus is on safety of our assets where I feel decentralized is safer than centralized because all your data's might be hacked oneday.

I would say that it is important to have both.
Since each has its advantages and disadvantages, more options is always going to be better.
We as humans would ideally like to have one "best" service that we use.
But the reality is that a variety is always better.
And even having a lot of the same kind of thing is good to, because that competition pushes companies to have better products.

In the case of exchanges, I only use centralized when I need to do high volume trades.
Outside of that, I see no need for it.
Blockchain tech was meant to be peer to peer, so it fits the decentralized model nicely.
In fact, whenever possible, I just skip exchanges and just trade directly with someone.
I find buys through bitcointalk marketplace or sites like localbitcoins or localcoinswap.
I use an escrow to keep from being scammed.

I prefer centralized exchange. because this type of exchange has a large trading volume. different from decentralization exchanges that rarely have large volumes.

IMO, I believe that DEX is much better than centralized exchange because everyone can ensure that their identity can be safe cause they don't have to verify account on exchange to be able to trade on DEX while they have to do that on centralized exchange. But at the moment, number of DEX is too little and almost DEX are very terrible.

Decentralized exchange is certainly much better than any centralized product. which you can meet on the market today, because today there are very big opportunities to manipulate prices through centralized services.