Topic: Decentralized Vs Centralized Exchanges (Read 854 times)
Well, I think that each of these exchanges has its pros and cons. On a decentralized exchange, we have access to our funds directly, without third parties, unlike a centralized one. But it is more convenient to trade on a centralized exchange. I still believe that it is better to use decentralized exchanges, because people will quickly gain experience with cryptocurrency.
Hello guys, hope you are doing well 
With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
I think if people or traders, DEX and centralized is no matter for them. But from what i see, listed on DEX is easier because some Centralized market have rules and it is make it hard to listed on them. With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
Objectively, I chose the centralized exchange even though it was very dangerous but so far I have not experienced problems with the local centralized exchange. For centralized foreign exchange, I never conducted an experiment, because it also considered the risks that I would experience. Although Vitalik doesn't agree, I don't like DEX because it might be inadequate service
https://cointelegraph.com/news/ethereum-s-vitalik-buterin-blasts-centralized-crypto-exchanges-i-hope-they-burn-in-hell
https://cointelegraph.com/news/ethereum-s-vitalik-buterin-blasts-centralized-crypto-exchanges-i-hope-they-burn-in-hell
Decentralized exchanges are certainly a future of cryptocurrency trading (along with atomic swaps), but they are not perfect. Recently, one of the most popular decentralized exchanges was hacked. However, it doesn't discourage me from trying them out. Bisq seems to be the most reasonable choice right now. Users prefer to use exchanges which are easy to use and support a huge variety of altcoins and tokens. Decentralized exchanges are still not completely noob friendly thus they won't gain a lot of attention in the coming months.
McAfee himself prefers decentralized exchanges due to their nature. No one controls these exchanges unlike those which are centralized. You are correct that they are not perfect..nothing is really. DEX are not hack-free. But one incident doesn't generalize anything.
Decentralized Exchanges is the main deal for me as it offers all what is needed to an investor or trader with full control of their assets, reduced transaction charges as well as relatively low charges compared to Centralisation exchanges.
I am into DEX's but I'm curious how they will play out. Big fan of stablecoins and how they'll be used for them
Decentralised exchanges is the way as it solely suppprts the blockchain technology. Centralised exchanges are not secured and loaded with high transaction charges, which users suffer more.
So we built one (https://trade.lakeproject.co), and here's my thoughts on decentralized vs centralized:
Pros:
- You trade from your own wallet so you don't need to entrust your tokens to a 3rd party and risk hacks
- You can't be censored as you can take your tokens anywhere, and you have full control over where you trade
- On our platform, there's no signups, so way easier to start trading right away by simply connecting your wallet
- We don't charge any trading fees, you only pay the Ethereum gas fees
- We also plan to add premium portfolio tracking and tax reporting features that are crucial for traders (this is our business model, we don't believe in nickle and diming users just because, we believe in building and charging only for features that add value to our users)
Cons:
- There are obviously not as much liquidity as centralized exchanges (we are looking into integrating them and becoming a Hybrid platform)
- Trade execution wont' be as fast (we're built on the 0x protocol, and the decentralized technology needs time to mature, it's getting quite good though!)
- Only ERC-20 tokens for now, others coming (margin trading, ERC-721, Bitcoin, etc)
Happy to share any thoughts since we're building this first hand and we're quite familiar with the challenges and potentials.
Pros:
- You trade from your own wallet so you don't need to entrust your tokens to a 3rd party and risk hacks
- You can't be censored as you can take your tokens anywhere, and you have full control over where you trade
- On our platform, there's no signups, so way easier to start trading right away by simply connecting your wallet
- We don't charge any trading fees, you only pay the Ethereum gas fees
- We also plan to add premium portfolio tracking and tax reporting features that are crucial for traders (this is our business model, we don't believe in nickle and diming users just because, we believe in building and charging only for features that add value to our users)
Cons:
- There are obviously not as much liquidity as centralized exchanges (we are looking into integrating them and becoming a Hybrid platform)
- Trade execution wont' be as fast (we're built on the 0x protocol, and the decentralized technology needs time to mature, it's getting quite good though!)
- Only ERC-20 tokens for now, others coming (margin trading, ERC-721, Bitcoin, etc)
Happy to share any thoughts since we're building this first hand and we're quite familiar with the challenges and potentials.
For the future and betterment for any token, I think it's best they're listed on any Decentralized exchanges. Why because this is going to prevent early and prematured dumping just any how by the airdrop or bounty hunters to those that bought through the ICO if such toke went through ICO selling.
I have taken a deep look into projects who are listed on a decentralized exchange recently and found out that most of them due to non regulatory framework are easily manipulated on and tent to become pump and dump leading to it investor's losing they investment. But the centralized exchange on the other hand e.g binance and the rest only list coins who have gone through adequate regulations and are certified to protect at list if not up to 100% minimal of 70% investor's found, so I will always option in to a centralized exchange.
I am stand in centralized exchange but there are not easy way to added in centralized exchange because demand of value. Most of the exchange listing fee is too much. But decentralized exchange is free in majority of the exchange like as Idex,Etherdelta,Forkdelta and Bancor i think that's why people going to stand in DEX.
Hi everyone! I found a new Decentralized Exchange yesterday : https://trex.org/
Let's try it and share some experience here, so.. I like it so far.
Let's try it and share some experience here, so.. I like it so far.
I stand on a decentralized exchange because DEX usually has a cheap fee and its usage is very easy. other than that decentralized exchanges also have no authority in it
i am on the same site. I also like decentralized exchange, it has more advantages than centralized one. 
I think that now centralized exchanges win competition from decentralized ones. The technology of decentralized exchanges is poorly developed now. There is still a lot of development and testing to make real decentralized exchanges become a reality.
I choose an exchange that is decentralized rather than centralized because this feature can protect my personal data from something unknown
Hello guys, hope you are doing well
With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
With what blockchain technology stands for, I will always go for Decentralization as it gives users all power to do as they wish on the platform. Centralised platforms calls the short and controls everything within the platform especially with high transaction charges.
I use both for trading because it all depends on the token or coin I wish to purchase, so both are good in my opinion. I do though tend to trade more on centralized ones though but I have to say I am not a big day trader. I do not day trade a lot, just now and then when I have time or the token or coin I am buying has some volatility and volume in which I can trade for that day. It all depends I think on what you are doing, both are needed and both are good in my opinion. I like idex best and binance, both each a decentralized and centralized exchange in their own right.
Bitcoin is an electronic currency that brings high profit value to investors, so I'm keeping a bitcoin and hoping its value will increase in the future.
Hello guys, hope you are doing well
With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX.
Decentralized Vs Centralized exchanges: Where do you stand? And why?
Both decentralized and centralized exchange have their own advantages and disadvantages.
One of advantages of decentralized exchange is, the volume most of them are real, not fake. The advantage of centralized exchange is they are very fast updating the order books. For example if you look binance, their order book is changing very fast and they can handle many transcactions.
I will always choose decentralized exchanges over centralized ones because I'm always confident I wont loss my money and my personal details wont be compromised.
Indeed, because in decentralized exchange we are always holding our money and taking full responsibility to secure it, but decentralized exchange is not having so many active traders compared to centralized exchange. Trading will be better and more effective if more traders, therefore people use more centralized exchange places than it, surely that has been trusted not that new one. Jump to: