Bitcoin Forum

Which exchanges are better - centralized or decentralized? Which ones are better to trade? After all, now often break and steal funds from the wallets of exchanges.

Basicaly for now we have 90% of crypto transactions on the centralized crypto exchanges. And we have a lot of fraud and hackers attacks on them. As per my mind future is for complex symbiosis solution. I mean CEX+DEX exchanges...

DEX are far away better than the cex. DEX are not that simple to hack although there were also dex exchanges which were hacked in the past but the numbers are very less than the centralized exchanges

Isn't DEX are less secure than CEX? Also, you may have faced problem while trading. WHo will take care of if you use DEX. I think CEX is better but as we are thinking a decentralized currency, DEX will be prioritized only if it get better features.

I think it depends what you generally looking for. I use waves DEX to make trade with less fee and they generally have huge difference between buy and sell orders, here you can get some profit. Bu as a disadvantage most of the dex markets have love volume, so you cant work with huge orders there. CEX where you can trade high trading volumes and generally low difference between sell and buy orders. I use both of them for different purposes.   

Money are stolen from both DEX and CEX exchange, money were stolen severally from etherdelta that is an example of DEX where money was stolen, bithumb is also an example of CEX where money was also stolen none is 100% safe at this moment.

At the moment, there are very few people using DEX because of the difficulty of using, as well as the lack of liquidity and diversity. While the CEX is focused on security, I think it's a better choice.

For a DEX you need to have more experience in IT and crypto due to the complicated setup. However, it will be the future as big investors will want a place with low trading fees. For now, CEX is working well and if there are any problems there is a support team who can help

If you are an ico or erc-20 token enthusiast then i am sure you will be a fan of decentralized exchanges as well, personally i like idex and forkdelta, on the other hand i have to accept the fact that centrqlized exchanges are advanced with really nice and easy user interface, my favorite cex is binance.

A well developed decentralized exchange should be the best, but there is currently none. If we talk about the best exchange to trade, the centralized exchange is the answer since it has a lot of liquidity. In term of security, DEX is one step ahead.

For security and that was actually true if the decentralized exchange site has been giving more than centralized exchange site but for liquidity and DEX can't compete with centralized exchange site and remember centralized exchange still leads the way just like binance and okex. they have made their own domination.

Both have advantages and disadvantages but i lean towards DEX more because of it's anonymity and fast transaction if you ought to withdraw your funds. My main concern with DEX is the security feature of it's platform, if it would be address very soon then i think people will migrate towards their platform. 

I am going for CEX because of it's liquidity and it is more secured when you trade there. There are a lot of centralized exchanges out there so my thinking is that they should improved their services and lessen transaction fees to lure more costumers and do business with them.

Decentralized Exchanges has been the most preferred by the community.

But as of the moment most of the exchanges are centralized exchanges and they are on the mainstream. Having experience for both type, I have no problem using them.

In no time we'll see the best DEX soon.

In general I've had much better experiences with centralized exchanges. I've used IDEX a bit... but overall DEXs don't seem to be too user friendly. I made an accidental click on Etherdelta (was trying to copy and paste a price) and bought a bunch of a worthless coin instead of selling it.

I find the UX to be better with centralized exchanges... however they seem to be magnets for big hacks.

I am not a fan of DEX because I have difficulty using it. Unlike CEX, that is more secured, easy to use and has technical support that will reply to your inquiries. Also, I have read a lot of hacking on DEX and rumors says that the hacking was done from one of their employees. Yes, it is etherdelta. Not sure why DEX is trying to keep their outdated platform. They should update and make it more user friendly.

A lot of pros and cons in both exchange sites and what matter here is our choice. So I made a choice by looking at the CMC to see what exchange sites are high on liquidity and when I find it easy to use and there's no kyc then I'm good to go. I don't stick to one sites as I trade different coins, btw.

Decentralized exchanges are a lot safer to keep your coins on as you still maintain control over them. Not only will this help prevent losing your coins to hackers or dishonest owners but it also prevents your coins being used to your detriment. If your coins are on a centralized exchange there is nothing to prevent the exchange owner lending your coins to people who want to short sell them. Also since we have seen a rise in exchanges offering margin trading there is an increased danger that they could get this very wrong and bankrupt the exchange taking your coins with it.

There are no safe place when the hacker attacks, even some of the famous exchanges already encounter it. For example " Binance Hack Issue this year 2018 ( https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance )

Based on this article : https://www.ccn.com/731-million-stolen-from-crypto-exchanges-in-2018-can-hacks-be-prevented/

How Can Exchange Hacks be Prevented?
Japan and South Korea, two countries that experienced the largest security breaches in 2018, have already started to implement strict regulatory policies to establish industry standards regarding cryptocurrency exchange security.

The government of South Korea has chosen to regulate cryptocurrency exchange as banks, providing local financial agencies the authority to monitor and oversee crypto exchanges.

With stricter regulations and consistent monitoring of the security systems implemented by exchanges, authorities of Japan and South Korea expect the magnitude of security breaches in the cryptocurrency sector to decline over time.

For the average user there is no difference where to trade. It works quickly, you can quickly sell and buy, especially if you do not trade large amounts of assets.
 I watched the Etherdelta, far below the ICO, if the coin is not on a big exchange. This is only good for those who want to buy coins on the cheap to hold.

I actually prefer centralized exchanges to decentralized exchanges. I will just argue out a point and the point is that its very easy to make silly mistake on decentralized exchanges when it comes to buying, selling and withdrawal. Centralized exchanges on the other hand is user friendly and not difficult to use so it will be rare to make mistake as regards buying, selling and withdrawal on centralized exchanges.

I have started to use DEX exchange a year ago. It was not easy for first time after centralized exchanges. They improve UX of interface so it will be more user friendly. The main advantage of DEX in my point of view - you own the private key from your account on Dex exchange.

I love centralised exchanges. Beucase i like to trust someone. For example i am fan of changpeng zhao and i feel happy and safe while using binance.
at the other point if we can think as dex is forkdelta. i cant feel myself safe definetly :P. idex is a good example for trustable dex but i always prefer cexs.

Hi man! Please dont compare " you like somebody" and " you trust somebody". I think it is a big difference. If we can trust to the crypto exchange it has to be licensed exchange. Everything have to be legal. This is my opinion...

As far as I know, there are no truly decentralized exchanges so far that would mimic or replicate all or at least some of the features that an advanced centralized exchange (for example, Bitfinex) enjoys. It is possible to design them, but building a decentralized exchange would not be rewarding as its developers wouldn't be able to profit by it as the very nature of such an exchange assumes the absence of a third party. But if there is no third party, there is no way to receive royalties. Apart from that, it requires a coordinated effort from the developing teams of every major coin out there but that's very unlikely. We don't even see a lot of agreement even between Bitcoin developers, not speaking of others.

This question has been asked over and over, yet the answer is still "it depends". The latest difficulties in the market have made many tokens non-listed and in that case the DEX have proven to be the last and only resource for investors to recover.
However, any trader will tell you that he can only use de CEX because they need to perform hundreds of fast operations a day to make their living.

Decentralized exchanges are the future.
Centralized exchanges failed so many times and I still do not understand why still people trust them and store here their coins..

i love DEX's because they show a real interest and volume for listed there projects, but of course CEX's with a good volumes and MM are better for projects listings.

I think the centralized exchange is still the best choice at present. For the following
- More than 90% of current transactions are on centralized exchanges
- Centralized exchanges have better security
- They offer more airdrops and more events for the user

Theoretically decentralized exchanges are better, but in practice they are not yet so developed and familiar to users to become popular. Uncertainty frightens, therefore majority chooses centralized exchanges with the greatest degree of reliability.

Perhaps the fix for the many challenges people face when trading cryptocurrencies isn’t decentralized exchanges (DEXs). Although there are some die-hard believers out there, the fact of the matter is, DEXs aren’t yet sufficiently developed in a way to encourage mass adoption (e.g. mining is too slow, there are liquidity challenges, trading is manual, single orders can be expensive, front-running is a problem, etc…)

Obviously, both types of exchanges have their advantages and disadvantages. I like decentralized, but they have one big drawback - little liquidity. But while I have enough of it, I hold most of the tokens for a long time, I sell only the most unpromising.

You obviously don't know the difference between these two types exchanges, because if you knew you wouldn't say that. There is a huge difference for any user, average or otherwise. When a centralized exchange gets hacked or an inside job is pulled off, traders lose their money. With a genuinely decentralized exchange it is simply not possible as a decentralized  exchange doesn't have private keys from their client's money, and therefore theft is not possible, at least not in the same way as it regularly happens with centralized ones, when all users are affected at once.

This is the main advantage of decentralized exchanges.

For me centralized is still the best i don't know but im not comfortable everytime i want to trade on dex im entering private keys.