Topic: Decentralized vs centralized cryptocurrency exchanges, which one is better? - page 9. (Read 1101 times)

It's all depends on customers choice and the use cases of the particular exchange,the both are good and I make use of centralized exchanges for some reasons.
And by the way decentralized exchanges are just coming up and are not yet as widely used as centralized ones
The major point to consider when choosing an exchange is security,and centralized exchanges provide them sufficiently

I think both have their advantages and disadvantages. so there are no good and bad, all complementary. DEX and CEX, both are needed for the market. I use both types of exchange and I like both.

I personally prefer centralised exchanges, they are very easy to use and although I am a blockchain enthusiast and love everything built on blockchain, I tend to dislike decentralised exchanges, trading on centralised exchanges is very fast and fees are very low.

99% of cryptocurrency transactions are still carried out through centralized exchanges, but this trend should change in the coming years. Switching to decentralized exchanges is necessary so that users of cryptocurrency can fully utilize their potential in harmonious interaction with blockchain.

The main problem of centralized cryptocurrency exchanges is security. The list of mass hacks is constantly growing, and the victims are always users. We have already witnessed the first major hacking of the year when Cryptopia lost 16 million dollars in Ethereum and ERC20 coins. The problem is that this is not an isolated case. Here is a small reminder of some others. In 2014, Bitcoin was stolen from Mt. Gox, while two years later Bitcoins for $ 72 million were missing from Bitfinex. These are two widely reported events. But there were many others.

A recent example of the Canadian platform QuadrigaCX, when the 30-year-old owner of the exchange Gerald Cotten went to India, where he died suddenly, and 12 days before his death, left a will in his wife's name. This case should make you think about the fate of your funds on centralized exchanges. Now no one will return $ 137 million to users of the cryptocurrency exchange. Private keys to the wallets of the exchange died along with its owner. Do not be surprised if soon we will see the movement of funds from these "dead" wallets. Centralized exchanges force users to transfer their funds to a third party, so the intermediary is always following the trading operations. This fact not only contradicts the fundamental principle of cryptocurrency but also makes users cryptocurrencies vulnerable to theft. As history has shown, when there are not enough security measures on the stock exchange to protect users, the theft of funds is happening. A centralized exchange requires only one mistake in order to endanger the security of each user. DEX solve this problem head-on. They eliminate security problems that interfere the centralized exchanges, allowing users to trade safely in a peer-to-peer network (P2P). There are no intermediaries, and traders never issue cryptocurrencies with their wallets. Assets are not stored on the exchange, so there is no way to steal them.

I hope too, very easy to use decentralized exchange besides it is also very safe because the private key is only held by the user.

That's indeed and you can see that how the volume of stable coin has been growing a lot. That means a lot of people are keeping their money on the stable crypto rather than use it to trade in the market. Tether was having a non sense marketcap.

Decentralization is the main principle of blockchain technology. This is the most important and unique characteristic of cryptocurrencies that is confessed since the appearance of Bitcoin. Decentralization enables to get away from centralized control and distinguishes cryptocurrency from unsecured government money. This is the main principle of security and privacy. So why are the vast majority of cryptocurrencies traded on centralized exchanges, if this concept is so important for the fundamentals of crypto-ecosystems?

What are the advantages of centralized cryptocurrency exchanges? They are obvious. Centralized exchanges are generally user-friendly and provide high liquidity for Bitcoin and most altcoins. Many people are afraid of the idea of ​​taking the first steps in cryptocurrencies. The media is full of horrific stories about ICO fraud and illegal transactions on the darknet. Therefore, when it comes to trading in cryptocurrencies, it is not surprising that most users automatically choose the easiest option, because beginners do not have experience in trading even fiat currency, not to mention cryptocurrency. In general, large centralized exchanges make it easy to trade cryptocurrencies and rarely face liquidity problems. Unfortunately, this cannot be said about the first generation decentralized exchanges (DEX). You could wait for the execution of the order for several hours or a week there. But, despite these advantages, centralized cryptocurrency exchanges are terribly imperfect. In addition to the fact that it is impossible to trade anonymously on them, they require that you trust your funds to third parties, and as a result, an attractive asset is created that makes centralized exchanges as the main goal for hackers. To be honest, often the funds are attractive for the owners of the exchanges themselves. In recent years, cybercriminals have stolen more than a billion dollars from centralized exchanges. In my opinion, the advantages of centralized exchanges do not outweigh these two disadvantages which are lack of anonymity and the possibility of theft of your funds.

all have their advantages and disadvantages. I prefer to use both. if you want to find an exchange that has centralized high volume is the right choice. but if you want security DEX is a good choice.

To be fair, even some centralized exchanges have less volume now as compared before. Only the big ones are still able to maintain decent volumes. It's probably the effect of the current market situation.  

Everything have their own advantage and disadvantage so overall it's depend on the user whenever they choose based on their need.
Decentralized means that no one control it but we must understand, every new policy must supervise under the government because without their regulation, there will be no demand for them !

They have their own benefit so you need to pick what kind of exchange you are going to start trading based on your preference,if you are going to trade a lot and you will be doing very often then decentralised exchanges may nit have enough volume to complete your trade so it should be centralized best for you,or you will trade less and more concerned about security then decentralized exchanges are best for you.

I do support the decentralized exchanges but to be honest most of them still have terrible user interfaces so most people and traders stillfind it confusing and complicated to trade at decentralized exchanges and that has also resulted in money loss due to wrong understamding of orders at decentralized exchanges so they definitely need a friendly interface.

Though I prefer to trade with DEX because of anonymity. No IDs to pass is truly a market paradaise. DEX however is not really helping to make the prices of new tokens to rise up. A seasoned ICO investor will lose a big money out from his capital if a DEX doesn't announce when they would list a new token,i ts going to be terrible for an ICO investor. There is going to be someone who is first at dumping their stash at DEX.

At a point I can't say which is better anymore in times of trading fee. Some centralized and decentralized exchanges trading fees are alarming which kept me in a state of confusion

of course decentralized was better, in term's of security DEXs have more point than centralized exchange.
when we use centralized exchange we entrust our money to them so if there are server down or exchange getting hacked you can imagine that all of our money in their exchange will also gone.
it's different compared to DEXs because orders and information routed in a peer-to-peer protocol.
but sadly mostly DEXs now still have to improve in their UI, because it's still confuse many people that new to DEXs.

Hybrid exchange are still new and we have few of them. The bearish market period does not give opportunity to determine the success rate of the hybrid exchange, none on the list high volume exchanges. Asides the security role and platform for large number of coins, the exchange will still have to compete for high volume trade and fiat exchange.  

Have the same hopes. Volume is really the main problem.
At start, they have good volumes but once the trades becomes longer it slows down. No more buyers but more of sellers. Only those who retained are trying to make profit out of short changes.

Will it still be possible or are we hoping for nothing?
As of now it looks like we are being colonized by this centralized exchanges.

My opinion definitely tends to ensure that all the same I see that decentralized exchanges should take their place among the fully-meaning cryptocurrency exchanges. In any case, I see that there is a sense in decentralization.

Now there are hybrid exchanges. I think the future belongs to them. For example, at the development stage, the qurrex project.