Bitcoin Forum

Which do you prefer, centralized or decentralized exchanges, why?

decentralized exchanges


in a decentralized exchange there are no third parties to maintain their funds, trades occur directly between users. is an automated process.

The biggest advantage of this, at least I think, is that people are not required to disclose their personal data to anyone

None I guess

Not sure what will happen to our funds if OpenLedger goes down that is used by decentralized exchange BitShares.

In the case of centralized exchanges, you can read about Mt. Gox and BTC-e crack down.

I do have small amounts on exchange to buy stuff but I move it to cold storage even if it is small stuff. Hope this answers your questions.

What's happening now there are decentralized exchanges that are starting to become centralized because they had to comply with the government's lawsuit on where they are operating. But preferring of these two, I would love to prefer decentralized though centralized will give us a lot of advantage but we are in crypto. That's the reason why we are here and that is because we want decentralization.

Decentralization is just THE THING TO USE , why? !
 Because of it , you have a high level security on your accounts on decentralized exchanges , how?  All your informations are not registred in any servers , place , ....
Thats the power of the blockchain and cryptocurrencies....
And the best for the end , you do not pay any taxes to your country except if the government impose taxes and laws on it , but with decentralization,  it'll be easy to skip them , of course taxes are important so at least try To pay them a bit !! :)

decentralized exchange works, etherdelta, works smooth and fine with a daily trading volume at > 1000 BTC now.

Does currently exist some decentralised exchanges?

I know Kyber Network will be one working with blockchain
"Kyber Network is a decentralized and trustless exchange that facilitates instant conversion of crypto-assets with guaranteed liquidity"

So far I'm using only centralized and partially-centralized exchanges. To be honest I wasn't aware that we already have decentralized exchanges up and running.

Ideally, I would prefer decentralized exchanges, but that depends on what they have to offer -- ie. whether they are secure, whether they are in fact decentralized, whether they offer all the functionality I expect an exchange to have.

Decentralized applications are still in their early days, which means that they may have some critical vulnerabilities - the failure of the DAO would be the best example of it. So, right now I wouldn't trust any big amounts of money to a decentralized exchange. Also, it's unclear to me how exactly are decentralized exchanges are going to operate with fiat, since fiat is under complete control of banks and payment processors. I know that there are many operating crypto to crypto exchanges, but crypto to fiat is what is really important, since it's the link to mainstream financial worlds, while altcoins are mostly just speculative tokens with zero real use.

I prefer the idea of decentralized exchange. But as of today, there aren't many decentralized exchanges available, let alone the one with enough volume for trading. Those exchange also doesn't have advanced trading features and usually not easy to use. Centralized exchange is still the way to go for at least 5 years ahead.


Etherdelta is working but painfully slow to use for me at the moment. Not sure what caused that though.

I prefer decentralized exchange because I  have my private keys, this make so much sense to me

Decentralized is better i think , we have seen in the past owners dissapear etc.

A decentralized exchange is better than a centralized exchange obviously. The fact that every other site in the world needs you to use some personal information to access it just makes it a farm for data collection which is obviously going to be sold to the darknet. Every centralized exchange is like that and you may not able to keep all your information secret if you use a centralized one. There have been some decentralized exchanges but they are still in process of development and gaining popularity.

i like decentralized web site. because i have more secure data so for that saving purpose i have to use decentralized web site only. compare to centralized exchange decentralized exchange has great features. so in my point of view decentralized exchange is better. for my transaction purpose i have to use decentralized exchange only. so it is better to use.

of course i (and i am sure everyone else) would love to use "decentralized" exchanges. but there is always a big issue that these decentralized exchanges are not so popular and also they do not offer the same features as the centralized ones.

the biggest downside is the fiat markets. i don't even know how that can work! fiat demands a centralized place to ensure no fraud happens.

but crypto versus crypto trading is much easier to do. although i have yet to see a user friendly and easy to use decentralized exchange that can get a high volume enough for liquidity.

I think with users trading with each other with the right automatic systems in place, it's good. But, there will be scams and would work like Ebay does without the moderation. That's what decentralized is and prevents the company running away with any funds like they have in the past.

But, I think it's also good to have an automated escrow system. I believe it's a good way to introduce newer members into investing into Bitcoin even though its p2p. But, there's more risk and you would have to trust both the exchange and the person dealing with

if want get profit i like centralized exchange,
compare centralized exchange (etherdelta, dex waves and more) vs poloniex, bittrex and etc
so easy can get profit if trade in poloniex , bittrex if compare etherdelta ,dex waves

but if long term i like decentralized

I would have the same choice too which I do prefer decentralized exchange Ex. Etherdelta. I do really love the site when it comes on trading Erc20 tokens since you can trade it up without the need on giving informations and doesn't have any restrictions or limitations since theres no 3rd party involved which would dictate or require such thing.This is really the biggest advantage compared into a centralized one.The thing I do have on trading on ED is that their graphics is too heavy for it to load for too long and sometimes transactions are too delay even you do put sufficient or high gas but well it does depend on network congestion.

I would choose Decentralized market over Centralized market. first you can send many bitcoin as you can without any verification of your identity and low cost fee. But in a Centralized exchange they need your identity , limited bitcoin withdrawal and if you get problem with your account we need to pass a ticket.

Exactly, the concept is definitely way better than centralized exchanges and I think in the future they will certainly be the way to go. I specifically like them because it allows for on chain transactions and it basically cuts out the middle man (the exchange itself). But right now the majority of decentralized exchanges are less userfriendly than normal exchanges and lack quite a bit of trading volume. But this will certainly grow with time.

Decentralized exchanges offers more advantages. Including better deals. Because most of these exchanges are not in it for the money. They just want their own cryptocurrency to flourish in the long run.

OpenLedger is just a frontend to Bitshares. You can use bitshares wallet or rudex and it will all still work as long as Bitshares is up!

I would prefer decentralize, because there is no third party sites so all your accounts are protected since it is not regstered to any site that asks for fundings.

Almost everyone prefer decentralized with words of mouth but what Marvels me is that centralized have more real user than decentralized. Funny

I think I will prefer a decentralised exchanges that is a bit regulated through some techemical systems. Most of this decentralised systems or exchange has a nice team and most of them are not greedy for gain. We have many centralised exchangers that are scamer and has control over your private keys do not make your fund save.

The whole thing is just a mystery to me.

What then could be the reason why Centralized exchange are that popular? My number one suspect is unfair advantage given them by government entities/Regular Publicity..Number Two would be for Legal Protection and  Three is  Ease of use.

of course it has to be decentralized.....

Of course I like decentralized exchanges. Here, I can make transactions automatically and quickly, completely earn the transaction fees of third parties. It really is a big advantage for us to use.

Of course the decentralized exchanges are my only option. At the present time, the idea of decentralized projects is a market trend that offers breakthrough advantages over centralized exchanges.

Decentralized ofcourse, I look forward to the day the most used currency is decentralized.
People who aren't familiar or never understood what the bank is actually doing to their money. (Except people that wen't through crisis)
They are going to have trust in their main currency one day, and the government that runs their country is not going to have the ability to ruin their lifesavings with inflation.

Good to think off for this thing to happen but this will be not guaranteed or even wont really happen at all because government wont really let that thing to happen on where decentralized currencies would rule over on those centralized ones.We might see some progress but yet it cant really take over fiat itself and we wont really able to break the chains on where government being tied up into us. If i have to choose then i would go for centralized exchange because on this matter i would really love to see on how those ICO would be managed and lessen the risk of scams.

Theoretically speaking, decentralized exchanges are the way to go. They are on chain and trades are made directly between seller and buyer. This way we cut out the middle man (centralized exchange in this case) and save on fees. In reality it's a little bit different. A lof of decentralized exchanges are signifcantly more harder to use for less technical people. And a decentralized doesn't offer any kind of customer support, unless we can set up some sort volunteer system.
Overall I think decentralized exchanges will eventually become the norm but we still have quite a journey ahead.

Centralize exchange are always manipulated by syndicates and mafia and they always take all the benefits because of that so I prefer we go to decentalized exchanges.

I prefer decentralized exchanges because they have no central authority or third party involved. The owners have more control over their money. It does not rely on a third party service to hold the customers funds.

Another benefit is that a decentralized exchange holds privacy. They don't need identity from you or verify who you are. There is no sign up needed and everything is private/anonymous.

A decentralized exchange doesn't pose a security risk to your funds because you are in charge of your funds.

Trades occur directly between users peer to peer through an automated process. It's very easy to use you just need your private and public key and your ready to go.

One advantage of centralized exchanges is that they have greater liquidity.
 

I think decentralized exchanges are ain't good in my part since these kind of exchanges can't maintain their budget with it, but I think this kind of exchanges are really the kind of exchange that can be trusted since high level of security can be enhanced just like what bitcoin is that it can't be fake or hacked. Centralized exchanges are my kind of exchanges since this is what I prefer to have better profit but it just too risky also since many exchanges have been bankrupt and owners flee with the money they get from the users. I like the idea of decentralized exchange but so far it can be not this time being it need some big development.

For me its decentralized because this is mostly used by digital currency.This kind of exchanges  has no central authority and we the owner must control every transactions we've made.And our money will be monitored from us,and no third party will be involved.

Etherdelta is working but painfully slow to use for me at the moment. Not sure what caused that though.
 :o :o :o :o

The way I see it, even a decentralized exchange has some element of centralization. But I will still vote from a decentralized exchange, simply because of its trustless system.

I personally prefer decentralized exchanges as they market is not controld by the exchange owners also we hold our private keys there.
but on the other hand trade volume in decentralised exchanges is very less which makes it not usable.
I wish exchanges like waves become famous.

I am all for decentralised exchanges but I appreciate what exchanges we have here today :)