What people prefer Now- A Centralized or Decentralized Exchange - page 2.

anshui

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Quote from: Bitkoyns on May 11, 2019, 07:50:38 AM

I think it is better if you raise poll here so that you will know what does people are prefer because it is depends on the people and not what is the advantage of the other to another one.

Appreciate the idea, though this thread is specifically meant for people's opinion about usability of DEX, CEX and P2P , and we as users, how can we educate and inform each other about the little knowledge we have about exchanges. Also to transfer knowledge to each other so as to realize that how we can grow as a community .

omonuyak

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Quote from: Bitkoyns on May 11, 2019, 07:50:38 AM

I think it is better if you raise poll here so that you will know what does people are prefer because it is depends on the people and not what is the advantage of the other to another one.

That could have been my recommendation too but it seemed I have come across a poll like this before somewhere. For Me i do prefer a centralized exchange for now because of security. Exchange like binance, poloniex, bittrex are really outstanding and I can't compare them with any of the decentralized exchange.

Bitkoyns

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I think it is better if you raise poll here so that you will know what does people are prefer because it is depends on the people and not what is the advantage of the other to another one.

anshui

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Quote from: davis196 on May 11, 2019, 07:26:15 AM

Quote from: anshui on May 09, 2019, 05:33:27 AM

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

I don't think that Paxful is decentralized.You still have to deposit coins to their wallet and you don't own the private keys.I'm not familiar with coinbazaar,but I might check it in the future.
Perhaps most of the not-so-experienced noobs will just choose some big centralized exchange like Coinbase,because they don't care about that "centralized vs.decentralized" topic.

I agree people generally dont care about CEX, DEX , but yes if u check the probability of funds getting lost or hacked, its a matter to think , Also "its coinbaazar.com not coinbazaar" just to mention, no offence, Thats what the dicussion is all about what people prefer and how as users are we realizing that crypto is going out of its meaning.

davis196

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Quote from: anshui on May 09, 2019, 05:33:27 AM

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

I don't think that Paxful is decentralized.You still have to deposit coins to their wallet and you don't own the private keys.I'm not familiar with coinbazaar,but I might check it in the future.
Perhaps most of the not-so-experienced noobs will just choose some big centralized exchange like Coinbase,because they don't care about that "centralized vs.decentralized" topic.

anshui

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Quote from: fullhdpixel on May 11, 2019, 06:48:56 AM

Quote from: Ailmand on May 09, 2019, 07:41:37 PM

It all depends on traders preferences. Both of them has their own advantage and disadvantages. Centralized exchange sometimes may require KYC which we could agree most traders find a burden and risky because of possible credential leak or disclosure. On the other hand it offers liquidity and not to mention has larger trading volume compared to DEX which most trader are looking for.

The trade volume they had didn’t just come their automatically, they built up these volume through our gradually support because we allowed it, if we can give same attention we gave to centralized exchange to decentralized exchange, then the volume they need to run smoothly will be a minor thing.

When I see centralized exchange sometimes, it seems to me as if we have digressed from the purpose of blockchain technology which is not supposed to involve the use of third party at all in our trading or transactions, but we have already given the power to centralized exchanges through our support, and that is why they are more relevant and more popular in the market.

As you mentioned we have given the power to centralized exchanges , though we know many have been hacked in the past for unknown reasons, and many have lost funds, i believe slowly people are realizing that whether CEX, DEX, or P2P , the fact of the matter is funds remains same , and should be used anywhere , in that sense i believe DEX and P2P exchanges will gain momentum in future.

fullhdpixel

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Quote from: Ailmand on May 09, 2019, 07:41:37 PM

It all depends on traders preferences. Both of them has their own advantage and disadvantages. Centralized exchange sometimes may require KYC which we could agree most traders find a burden and risky because of possible credential leak or disclosure. On the other hand it offers liquidity and not to mention has larger trading volume compared to DEX which most trader are looking for.

The trade volume they had didn’t just come their automatically, they built up these volume through our gradually support because we allowed it, if we can give same attention we gave to centralized exchange to decentralized exchange, then the volume they need to run smoothly will be a minor thing.

When I see centralized exchange sometimes, it seems to me as if we have digressed from the purpose of blockchain technology which is not supposed to involve the use of third party at all in our trading or transactions, but we have already given the power to centralized exchanges through our support, and that is why they are more relevant and more popular in the market.

prtty2gal2

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Quote from: anshui on May 09, 2019, 05:33:27 AM

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

These are the main reasons why decentralized exchanges should have gained more popularity than centralized exchange, but I am surprised that people would prefer centralized exchange over DEX, probably because DEX usually has very low volume, while Centralized exchange has enough trade volume that could drive a project to the part of success.

Even me that I am talking, despite all the furor I have over KYC from these centralized exchange and my anger with them, I have never for ones taken my trade through DEX , maybe one day, the trend will change and we will all follow DEX trend again, because I can see that trend speaks louder in this market.

anshui

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Quote from: Ucy on May 10, 2019, 12:06:18 PM

Paxful is not really a decentralized exchange. It it just a peer-to-peer platform that is centrally controlled ... very different from decentralization. people can be censored on the exchange and it is really not anonymous.
Don't know much about coinbazaar

coinbaazar.com is also a P2P exchange like paxful , which is recently launched.The benefits are high as it offers a low fee for advertisers. For more information you can visit the website and ask from chat support.

madfox11

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All it depends on a number of key factors, but centralized exchanges provide the highest volume trading, only for this reason traders still prefer them. As for me, I do not trust the centralized exchanges and do not keep the significant amounts of funds there.

coinplus

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I think it depends on the exchange, if you do not trust the current centralized exchanges then it is not weird if you select a decentralized one, they are newcomers and they are not superb yet but they are still improving themselves so one day there will be a huge amazing big decentralized exchange that rivals most of the centralized ones.

Nonetheless, as you can see from the examples of recent days when a trusted exchange gets hacked they find a solution to fix it, even if its as big as 7 thousand bitcoins. That is why I think it is not important if an exchange is centralized or not but its important if you trust them or not, I trust a centralized exchange that is binance and I will continue using it however that doesn't mean you should too. Search for yourself and you will see which one you prefer by just using them a few times.

Osarman

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Quote from: CryptoBry on May 10, 2019, 07:38:22 AM

Quote from: DeathProxy on May 09, 2019, 10:22:59 AM

Decentralized exchange is good in terms of security but they do lack the liquidity and technology like their centralized exchange countrparts. Without enough liquidity in an exchange the exchange would not be able to.meet the financial needs of its users well..i still prefer centralized exchange than the decentralized ones

I am not a tech person and I find the learning curve in decentralized exchanges to be a little far for me compared to centralized exchanges like Bittrex, Binance or Kucoin where I am more comfortable using them. I find centralized to be more user-friendly. Now, I am aware of the many advantages of decentralized exchanges also but as of now...I still prefer the usual centralized ones despite the recent many hacks they encountered.

Both the exchanges have their own advantages and disadvantages but yes, the centralized exchanges are mostly preferred by crypto users. Not all the exchanges but few good exchanges, these are selective due to many reasons. Even the top leading exchanges have security issues so how can top 10 exchanges are safe. Binance being the number one exchange recently got suffered by hacking issue but the exchange will now improve its security much more under the pressure of such problems.

Ucy

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Paxful is not really a decentralized exchange. It it just a peer-to-peer platform that is centrally controlled ... very different from decentralization. people can be censored on the exchange and it is really not anonymous.
Don't know much about coinbazaar

CryptoBry

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Quote from: DeathProxy on May 09, 2019, 10:22:59 AM

Decentralized exchange is good in terms of security but they do lack the liquidity and technology like their centralized exchange countrparts. Without enough liquidity in an exchange the exchange would not be able to.meet the financial needs of its users well..i still prefer centralized exchange than the decentralized ones

I am not a tech person and I find the learning curve in decentralized exchanges to be a little far for me compared to centralized exchanges like Bittrex, Binance or Kucoin where I am more comfortable using them. I find centralized to be more user-friendly. Now, I am aware of the many advantages of decentralized exchanges also but as of now...I still prefer the usual centralized ones despite the recent many hacks they encountered.

redsun114

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Quote from: anshui on May 09, 2019, 05:33:27 AM

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

Now, even most of the decentralized exchanges are making KYC as mandatory on their exchange before any of the user could transfer or exchange any funds. The same happened with blockchain, wallet. I really did not even think about if before that blockchain wallets will make KYC mandatory but they did so in order to use shape shift to exchange the coins. But if you seriously count the advantages and disadvantages about both of the exchanges the you can find out that the decentralized exchanges have a way more advantages then the decentralized ones. Peoples might prefer both of the exchanges in ratio until the decentralized ones are supported by the governments.

abeecrypto

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I believe that it depends. in terms of popularity, a centralized exchange will always be more popular. in terms of flexiblity, a centralized exchange is more flexible of course. a centralized exchange has a wallet of various blockchains and has done all the abstractions for you. hence, you can deposit coins from various blockchains into those exchanges. however, most decentralized exchanges only allow tokens from specific blockchains. for example, etherdelta only allows erc20 token. for other blockchains, you need to go elsewhere. so far, i think the only advantage of a decentralized exchange is the fact that you hold your funds and have autonomy over it.

anshui

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Quote from: Barbut on May 10, 2019, 04:51:39 AM

Quote from: anshui on May 09, 2019, 09:46:03 PM

We can argue over dex and cex , but one things needs to be taken into consideration , many dex have been hacked in the past and happening now a days as well , even high trading volume which could be a positive point has turned out to be negative , because looking at past and present , some good exchanges which have high trading volume are hacked and people lost their money , I am one of them . But have u guys ever heard decentralised exchanges got hacked . I am afraid but I haven’t heard . Because the rule is simple you trade and go , u don’t have to save it if u r not trading . Also p2p exchanges worldwide which means a bigger reach . Just one of my opinions.

We dont need to argue, you have a strong point here. I think people still dont know a difference between dex and cex, and only problem dex have is daily volume, people are not using them like they use cex. I think cex covered marketing much more better, cause of the profit they make its easier for them to have strong marketing and to have good promotions, all the time some prizes, I didn`t notice that some dex have it, if there is such dex let me know about it my friend.

Sure , probably if you want to check for such exchanges you can always give it a try for P2P exchange like coinbaazar.com , though its newly launched but its promising to serve your needs. Also you can try LBC, its also good , but it works on its own terms , like incoming fees transactions and all . Its up to you to decide . Ultimately one should be benefited and feel secure.

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Quote from: anshui on May 09, 2019, 09:46:03 PM

We can argue over dex and cex , but one things needs to be taken into consideration , many dex have been hacked in the past and happening now a days as well , even high trading volume which could be a positive point has turned out to be negative , because looking at past and present , some good exchanges which have high trading volume are hacked and people lost their money , I am one of them . But have u guys ever heard decentralised exchanges got hacked . I am afraid but I haven’t heard . Because the rule is simple you trade and go , u don’t have to save it if u r not trading . Also p2p exchanges worldwide which means a bigger reach . Just one of my opinions.

We dont need to argue, you have a strong point here. I think people still dont know a difference between dex and cex, and only problem dex have is daily volume, people are not using them like they use cex. I think cex covered marketing much more better, cause of the profit they make its easier for them to have strong marketing and to have good promotions, all the time some prizes, I didn`t notice that some dex have it, if there is such dex let me know about it my friend.

kaya11

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As of now I am using a centralized one, I had bad experiences with decentralized exchanges so I stopped and change to a more secured exchanges. And also I'd rather comply to the regulations, it is better that way for me. I don't want to mess up with the local and national laws regarding with tax and others concerning this kind of matters. But still I would use both, sometimes when I have alts that are not available on the one that I am using I go to another and it includes decentralized exchanges.

anshui

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Generally people are confused about CEX and DEX , because if we say centralized exchanges does work rightly by doing KYC and other means , exactly same way DEX also does that when it comes to risky and high volume payments. So ideally they are work on same wavelength . Its just that one is doing KYC even before you actually use the platform, and the other does all the prerequisites when its required. Also one more thing we should acknowledge that ultimate goal is that our funds should remain safe , and can used when required. So considering all the pros and cons , in my opinion we should actually see which platform is good for our needs, not just if one is using then we also have to use it .

Topic: What people prefer Now- A Centralized or Decentralized Exchange - page 2. (Read 660 times)