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 760 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.
legendary
Activity: 2156
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Marketing Campaign Manager |Telegram ID- @LT_Mouse
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.
Since decentralized exchanges are in agreement with the motive of blockchain, they tend to offer maximum security of users information. It also offers privacy and anonymity; that is to say users can trade without revealing any Information about them. Also unlike in most centralized exchanges where the administrators can manipulate trade, it is not the same with decentralized exchanges.
They give us anonymity. The key difference between centralized and decentralized exchanges and this is the reliability and safety of the user's funds. Decentralized exchanges do not yet have the same functionality and convenience as centralized exchanges, but sending funds to a centralized exchange, you must understand that after sending you can no longer return them. With a decentralized exchange, you will escape it.
There are quite a number of decentralized exchanges with a lot of tokens and cryptocurrencies. I think they are mostly ethereum-based decentralized exchanges.
One of its most important benefits is that you can trade cryptocurrencies on platforms that have no central control.
One of its most important benefits is that you can trade cryptocurrencies on platforms that have no central control.
Decentralized exchange is the future. Imagine that regulators come with strict rules and you will have a real problem to buy cryptocurrency on centralized and regulated exchange, where will you go? 
Decentralised exchanges are providing a much higher security level, because even if you trade on such exchanges, you always have a full control of your funds. Decentralised exchanges cannot be hacked as well, so it is a huge benefit for traders.
You're right, It's rare to hear that Decentralized exchange got hacked, which often hears only events caused by human errors, such as accidentally hit a phishing website. The only lack is small trading volume in there. Security is determined by the user himself.
1. you are the owner of private keys, that means you still own your cryptocurrencies even you are trading them
2. no KYC
3. no deposits and withdrawal approvals
4. more cryptocurrencies are listed on DEXs because it is cheaper for ICOs to get listed on DEXs.
2. no KYC
3. no deposits and withdrawal approvals
4. more cryptocurrencies are listed on DEXs because it is cheaper for ICOs to get listed on DEXs.
Decentralized exchanges till date offers one of the best security, which comprises of both funds and personal informations. By trading through wallet gives users the power to still manage their assets. Also, there is no restrictions as it is opened to all and sundry. Another benefit is that, the charges are not too much when compared to centralized exchanges.
Using decentralized services of course has many advantages, but in my opinion there are two very important factors. One of these factors is security and the other is to remain anonymous. It is not possible to create an account in decentralized services, so user security is at the highest level. There is also a case that decentralized services do not require users to provide ID or passport approval because they are not connected to any center and cannot follow up on an account basis.
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?
So, when you have a decentralized exchange those type of things can't happen since there is no central deal that can be hacked, they would have to hack each and every single individual account to make a difference and that is way harder than just hacking one exchange.
Since decentralized exchanges are in agreement with the motive of blockchain, they tend to offer maximum security of users information. It also offers privacy and anonymity; that is to say users can trade without revealing any Information about them. Also unlike in most centralized exchanges where the administrators can manipulate trade, it is not the same with decentralized exchanges.
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
You are the controller of your account, there's no need to depend on other. 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.
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.
Decentralised exchanges are providing a much higher security level, because even if you trade on such exchanges, you always have a full control of your funds. Decentralised exchanges cannot be hacked as well, so it is a huge benefit for traders.
I wasn't using dex for a long time, but in my opinion the biggest benefit is as a foothold for several project tokens that haven't been able to open a transaction on the cex market, so at first they will put it into dex first and over time they will try to make a cex market for unauthorized buying and selling means without having to wait forcex market
The widespread argument for decentralized exchanges is that you interact with them, without revealing the credentials of your wallet. You don't send them your coins. They basically provide the software for the trades to be executed.
Decentralized exchanges also don't require you to reveal your identity.
Decentralized exchanges also don't require you to reveal your identity.
Im using both centralized and decentralized exchange for trading. Base of my personal experience when using DEX i was able to import my existing wallet specially Ethereum wallet via private key or other security keys. so directly im in controlled of my funds with less transaction and withdrawal fees, compare to centralized exchange. but just be careful not all DEX are proven safe some are just created by scam artist so be vigilant at all times.
to work as decision to run of action as extending use with returns of early terms with work on initiation and gains of results to collects as fine of number with target to complete within the plan on investment.
Decentralized exchanges are more appropriate for young projects, because such exchanges usually ask for lower listing fees than centralized exchanges. In early period, young projects can aks for listing on dexes first, then gradually expand on centralized and bigger exchanges.
Having full control over your coins using your own Private keys that's why I like decentralized exchanges so its free of security issues plaguing centralized exchanges and no more forcing of KYC on users
Various benefits have been explained by members here. Yes and only reminds you not to enter your private key on a fake site, because if you do, your assets will be depleted. Be careful, buddy 
With decentralized exchange, there is no particular person in focus, you hold your private key, get coin at the cheapest price, NO KYC, you remain absolutely anonymous. DEX will be the feature of digital currency.
The decentralized exchange is fully managed by the members themselves, while the exchange is centrally managed by the admin. I think that is a clear difference between the two.
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?
the decentralization exchange does not require KYC, the rest there is no difference. if not, which one is better, DEX is better because we are fully Anonymous. but currently there is no reliable DEX. as long as there is no DEX that has a large trading volume, people will still use CEX.
As the name goes, Decentralized Exchange (DEX), that means they are completely decentralized which can be seen in the area of users trading directly from their wallets. Also, the absence of KYC removes all restrictions while making all trading anonymous and private which is also one of the characteristics of decentralization. All these ensures security of both users identity and funds.
The most important benefit of a decentralized exchange is security. exchanges are made in such a way that it is impossible to hack the exchange
If you want to know the advantages of decentralized exchanges, just take a look at the news about centralized exchanges being hacked from time to time and look what happens with their customers and their funds inside those exchanges. And this is not the only danger, a centralized exchange can shut down or just disappear with their customer's funds.
Decentralized servers:
Decentralized exchanges are hosted on decentralized servers. It means all the servers are not located within a single location and are often spread out globally. Some servers can be truly decentralized by just existing on the cloud. This makes decentralized exchanges nearly impossible to hack, hence making the users’ funds more secure.
Not restricted by law:
As decentralized servers are not retracted to one physical location, these exchanges are much harder to regulate or even shut down.
Coin responsibility:
While centralized exchanges store all the funds on their exchanges, making them vulnerable to hacks, decentralized exchanges leave the ownership of cryptocurrency in the hands of users and act as a place for peer-to-peer trading.
More privacy:
Centralized exchanges need to confirm users’ identities via the various form of official government ID. But most decentralized exchanges allow anyone to create an account under any name with very little or no approval process. Also, all the transactions on decentralized exchanges are anonymous.
Decentralized exchanges are hosted on decentralized servers. It means all the servers are not located within a single location and are often spread out globally. Some servers can be truly decentralized by just existing on the cloud. This makes decentralized exchanges nearly impossible to hack, hence making the users’ funds more secure.
Not restricted by law:
As decentralized servers are not retracted to one physical location, these exchanges are much harder to regulate or even shut down.
Coin responsibility:
While centralized exchanges store all the funds on their exchanges, making them vulnerable to hacks, decentralized exchanges leave the ownership of cryptocurrency in the hands of users and act as a place for peer-to-peer trading.
More privacy:
Centralized exchanges need to confirm users’ identities via the various form of official government ID. But most decentralized exchanges allow anyone to create an account under any name with very little or no approval process. Also, all the transactions on decentralized exchanges are anonymous.
Having full control over your coins using your own Private keys that's why I like decentralized exchanges so its free of security issues plaguing centralized exchanges and no more forcing of KYC on users
I think decentralized exchanges have the following advantages:
1. No KYC restrictions, no regulation, anyone can trade on a decentralized exchange.
2. Financial security is guaranteed. Keep your own key. No one can access your own wallet. Deposits and withdrawals at any time
1. No KYC restrictions, no regulation, anyone can trade on a decentralized exchange.
2. Financial security is guaranteed. Keep your own key. No one can access your own wallet. Deposits and withdrawals at any time
Decentralized Exchanges follows the idea of blockchain, that is to say, in decentralized exchanges, users are still in charge of their wallet as all trades occurs within their wallet. Because of this, hacking a decentralized exchange has proven to be hard, as you will need the users keys to perform such which isn't possible. So in all, Decentralized exchanges offers high security, transparency and trust. Also, there is no need for KYC..
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?
In addition, if you have a token, you can sell right away without waiting for it to be listed in a centralized exchange.
Also, you can buy cheap coins in decentralized exchange especially in IDEX and forkdelta and you won't be block by an exchange since they don't have KYC requirement and they don't have TOS to follow like in centralized exchanges.
Also, you can buy cheap coins in decentralized exchange especially in IDEX and forkdelta and you won't be block by an exchange since they don't have KYC requirement and they don't have TOS to follow like in centralized exchanges.
Benefits of DEX's:
You hold your private keys and that means you control all your assets on that exchange.
Unlike CEX who are constantly being attacked by hacks, DEX's has better security.
There are a lot of articles that covers this topic and you can search for them on the internet. Here's one of them https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
You hold your private keys and that means you control all your assets on that exchange.
Unlike CEX who are constantly being attacked by hacks, DEX's has better security.
There are a lot of articles that covers this topic and you can search for them on the internet. Here's one of them https://www.cryptocompare.com/exchanges/guides/what-is-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?
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