As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
Topic: What are the benefits of a decentralized exchange? (Read 734 times)
As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.
That's the real essence of being decentralized controlling your coins which you have all the capabilities to hold everything unlike with centralized exchange where after you send your assets it will be in the hands of the exchange and whatever happened inside while your coins are there is no longer in your control, it will be in the hands of the exchange facilitators. 
As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
I know that most of the exchange that are good to be use was decentralized platform, because aside from the were the only one who an access to our own account and no need for KYC too. But the top exchange always listed in the market was centralized. Though, decentralized or centralized are both prone to hacker.
There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.
Highly anonymous and seucred form of exchange is decentralized exchanges still you need to be careful while linking your wallet to DEX or storing your private keys because there might be clone sites which saves your data and reaccess them to the original site then you will be found everything stolen.those are called phishing or phished web sites .they are simmillar to the original website but they are not safe and they only want to hack people's account . dex is i think more risk than centralized exchange and its not really beneficial at all to use in my own opinion . i love dex because i hodl alot of tokens that can be usually traded on a dex but their trading value is small . if i only have top coins on my wallet i will still prefer cex
There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.
Highly anonymous and seucred form of exchange is decentralized exchanges still you need to be careful while linking your wallet to DEX or storing your private keys because there might be clone sites which saves your data and reaccess them to the original site then you will be found everything stolen.those are called phishing or phished web sites .they are simmillar to the original website but they are not safe and they only want to hack people's account . dex is i think more risk than centralized exchange and its not really beneficial at all to use in my own opinion . i love dex because i hodl alot of tokens that can be usually traded on a dex but their trading value is small . if i only have top coins on my wallet i will still prefer cex
There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.
Highly anonymous and seucred form of exchange is decentralized exchanges still you need to be careful while linking your wallet to DEX or storing your private keys because there might be clone sites which saves your data and reaccess them to the original site then you will be found everything stolen. As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
What the good things and I like for decentralized exchange is that We are the one who really control our wallets.
It doesn't need any personal documents needed for the exchange. And decentralized don't have any control to any
coins you hold to their platform.
There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.
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I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.
Binance is trying to be one of the most powerful giant in crypto space. I believe CZ will bring it at the top, same he did with Binance centralized exchange. He has everything, budget, influence in crypto market. 
I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.
The old dex's for me are still better than Binance DEX. It has been told that their dex isn't really an exact dex as we are thinking. I've considered that although there are some dex that aren't really getting the attention of most but as long as they have high volume, they are good to use and to stay. Binance will still be binance and the brand that it has is the reason why many traders are jumping to their centralized and semi-centralized exchange, the trust has been built. 
As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?
where they do held off funds and as a user you do store up your tokens/coins on an exchange wallet which you don't possess the keys and that's the risk actually.
I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.
You are the controller of your account, there's no need to depend on others. The process is instant as well, you don't have to wait for someone to manually complete your withdraw.
Besides this advantage, you must have in mind that, if something wrong occur. you are not going to have solved it or have support for it.
unfortunately trading in volume has less volume if we compared it with centralized market.for ethereum platform we have several dex exchanges, but for another platform its still very rate and people still very strange while use it.and now occur binance dex that provide large liquidity and it make many projects migrate to binance chain.Besides this advantage, you must have in mind that, if something wrong occur. you are not going to have solved it or have support for it.
Of course, based on the previous Ethereum based Decentralised platform now Binance will overcome those solutions, now we are in early stages of their DEX platform we might see how far this one will more reputation in the coming days. Slowly now many companies are migrating their blockchain to Binance blockchain.
Decentralized exchanges can facilitate users without having to complete the Kyc first and the security provided must be owned by each user. although some of them said that the decentralization exchange was not safe enough because it was vulnerable to theft of user data but in my opinion the exchange was simpler and more transparent.
Mostly tokens and crypto coins are listed in Decentralized exchange even it was not listed yet in centralized exchange Also you can buy tokens there in a cheapest price. You have a full control of your account because you hold your private key. Easy to use.
Decentralized exchanges promotes more anonimity and you can take 100% control of your funds. But it has slower transaction that is why centralized exchanges are winning over it.
Decentralized exchanges are those that truly carry the picture of blockchain technology, which is bases on anonymity and any other characteristics associated with it.
If you users wants control over his fund, then, he should go for decentralized exchanges.
If you users wants control over his fund, then, he should go for decentralized exchanges.
I have traded on so many exchanges both centralized and decentralized and I have noticed two or three merits or advantages of the decentralized exchanges. I choose decentralized over centralized because,it has lower or lesser charges as compared to centralized and also I think it's more secured using decentralized exchanges than centralized one.
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