Topic: What people prefer Now- A Centralized or Decentralized Exchange - page 3. (Read 660 times)
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.
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.
There are three factors to consider when selecting an exchange to trade on.
The first is security, always. A Dex verses a centralized exchange is not necessarily safer, even though you own your own keys.
The second is market conditions. Depending on your trading style and volume, you may be absolutely reliant on the liquidity offered by only the largest centralized exchanges. That's an unfortunate position to be in, but in some cases pretty much unavoidable
The third is UX. A good user experience (even if it's just a good API) is necessary to executing trades effectively.
The first is security, always. A Dex verses a centralized exchange is not necessarily safer, even though you own your own keys.
The second is market conditions. Depending on your trading style and volume, you may be absolutely reliant on the liquidity offered by only the largest centralized exchanges. That's an unfortunate position to be in, but in some cases pretty much unavoidable
The third is UX. A good user experience (even if it's just a good API) is necessary to executing trades effectively.
Is Bisq the only decentralized exchange? I would love to use it if the darn thing worked... Sadly its localbitcoins for me...
It is decentralised but sadly it still the popularity so making trades with fair prices can be quite hard at times.It's not the only decentralized exchange thou but if you are talking about a crypto-fiat decentralized exchange then yes.
I think it is a bit contradictory, because based on the legacy left by Satoshi Nakamoto that all this is based on having the best benefit in terms of decentralization, to be a free economy where finances are managed autonomously without the need of third parties, something that should be taken in ceunta, those who are Centralized Exchanges present much more security and are always with the best option of services.
But what can generate this? It's simple, if you work with decentralized technologies, but with a system where everything is handled with great responsibility, trust and above all security, there will always be a preference for insurance, so you can never mess with finances, so I think that Many people prefer Centralized Exchanges for this reason.
In fact, the problem with some Exchanges will always be security, if they are hacked, if they present the best support service, for these reasons I think Centralized Exchanges are better, because of the confidence and security they have in dealing with any problem. .
But what can generate this? It's simple, if you work with decentralized technologies, but with a system where everything is handled with great responsibility, trust and above all security, there will always be a preference for insurance, so you can never mess with finances, so I think that Many people prefer Centralized Exchanges for this reason.
In fact, the problem with some Exchanges will always be security, if they are hacked, if they present the best support service, for these reasons I think Centralized Exchanges are better, because of the confidence and security they have in dealing with any problem. .
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.
P2P is always been good yet people do still love to make use of centralized exchangers.Yes it can be used on worldwide transaction but we do currentlyseeing the users or demand of these dexes as of this moment.Yes, they do have users but wont really be equaled to the number of users of centralized exchangers.
I currently prefer centralized exchanges over decentralized exchanges at the moment because most DEXes have poor volume compared to centralized exchanges, and some are even hard to use. I also mainly trade with leverage using Bitmex, and there aren't any decentralized options for leveraged trading at the moment AFAIK. Most of 'em also don't work nearly as well as advertised unfortunately, although I could see DEXes becoming more popular in the future when KYC starts being required on more and more exchanges.
According to my little knowledge , I just read few days back that it’s a hype which is created about decentralised and centralised , if u realise we call crypto a decentralised currency means it’s not managed by any govt or banks. And then we call exchange as DEX OR CEX . So I think this is just a term used for people to differ bwtween exchanges in terms of how exchange works in particular country.
Should have been an advertisement to your site, eh? Anyway, if I have given the chance to trade at a decentralized exchange, I'd do it, though there seems to be not much of an activity going on for such kind of exchanges and to be frank, the ones that we have right now aren't as inviting as most traders want them to be, so we all end up using centralized exchanges. If there'd be any DEX that lives up to the hype of traders, I would definitely switch and use it and never look back.
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.
People wants Decentralized that is basically because of cryptocurrency in general why we will go to centralized ? Bitcoin an other cryptocurrency was been created for transparency, you are free no one holds your funds and you are in full control over your money. Sometimes i am using other centralized exchange because of the altcoins that i want to trade if it is only the choice but, as much as possible i stay and prefer as always to be in a decentralized exchange. It depends upon every users' choice and comfortability.
Most of them want complete security and safe transactions and others want to transact anonymously.
I haven't heard of coinbaazar so I got curious about it.
Is it still an active exchange? However, in my own choice,
I would still prefer to choose a decentralized exchange because I want to focus and obtain safer and secured transactions.
Most of them want complete security and safe transactions and others want to transact anonymously.
I haven't heard of coinbaazar so I got curious about it.
Is it still an active exchange? However, in my own choice,
I would still prefer to choose a decentralized exchange because I want to focus and obtain safer and secured transactions.
Yes , it’s safe and secure , it’s active and recently launched worldwide, also in terms of security you have security options such as 2fa, otp login, password creation using capital, number and special digits (unlike others , it’s more secure ) , google auntication . You can visit if you feel like and give a honest opinion.
Is Bisq the only decentralized exchange? I would love to use it if the darn thing worked... Sadly its localbitcoins for me...
You can try coinbaazar.com , it’s eaqually same but recently launched the benefits are more .
Is Bisq the only decentralized exchange? I would love to use it if the darn thing worked... Sadly its localbitcoins for me...
It depends upon every users' choice and comfortability.
Most of them want complete security and safe transactions and others want to transact anonymously.
I haven't heard of coinbaazar so I got curious about it.
Is it still an active exchange? However, in my own choice,
I would still prefer to choose a decentralized exchange because I want to focus and obtain safer and secured transactions.
Most of them want complete security and safe transactions and others want to transact anonymously.
I haven't heard of coinbaazar so I got curious about it.
Is it still an active exchange? However, in my own choice,
I would still prefer to choose a decentralized exchange because I want to focus and obtain safer and secured transactions.
I think it will be back to every trader's decision and I am sure that they will choose what exchanges that will make them comfortable to trade.
They will choose the right exchanges, and I think they will research more about the advantages and the disadvantages of every exchange so they can start to trade in their chosen exchange.
But I am curious, what will you choose OP after you know the opinion from us besides choose coinbazaar?
I still prefer the centralized exchange, and I don't mind to fills KYC as long as they can protect the customer personal information data.
They will choose the right exchanges, and I think they will research more about the advantages and the disadvantages of every exchange so they can start to trade in their chosen exchange.
But I am curious, what will you choose OP after you know the opinion from us besides choose coinbazaar?
I still prefer the centralized exchange, and I don't mind to fills KYC as long as they can protect the customer personal information data.
Just to sum up this whole conversation , I just wanted to know what people think of decentralised or centralised exchanges . As far as coinbaazar is concerned , if u want you can visit and check and then post your honest reviews . It’s an exchange which is launched recently. And it is not related to any other exchange . Coinbaazar name is taken as it’s unique . Unlike other exchanges which are mentioned in thread. I am not promoting any exchange here . It’s just I wanted to know about what people like and dislike about p2p exchanges and other exchanges.
... In my opinion a decentralized exchange like coinbaazar , ...
is this an advertisement of your own website here? then why do it as a question.
just start a proper announcement in Services Announcement board and introduce your website and services there and explain to us why you think it is "decentralized" and why should people trust it.
Yes, it can bee seen in his personal message and also the signature.
Maybe he does want his website to be checked out, which is what I am doing right now.
He made me bite that bait.
Wait I saw one on google, he made a thread here but the link is dead. As to why, it needs digging.
Now, I am scared to click the website of them.
Better wait for others comment here.
It is like a copy of coinbazaar. Check the spelling of the website.
coinbaazar , paxful
Do you even know what you're talking about? Paxful is surely a 100% centralized exchange, and I don't even know what coinbazaar is. Not sure if you're referring to OpenBazaar, which is not an exchange.Anyway, to answer your question, I don't see the majority of people going to decentralized exchanges unless the UX of decentralized exchanges greatly improves.
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
... In my opinion a decentralized exchange like coinbaazar , ...
is this an advertisement of your own website here? then why do it as a question.
just start a proper announcement in Services Announcement board and introduce your website and services there and explain to us why you think it is "decentralized" and why should people trust it.
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