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Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

I Scammed some amount of crypto Currency in centralized exchange only.
The name of the exchange zebpay from India. A few weeks back they stopped their exchange service .
Now am trust only de centralized exchange.

Trading on any exchange involves huge risks. It does not matter whether the exchange is regulated or decentralized, although the latter does not exist. Exchanges are needed to conclude transactions, safe you money on cold wallets. This is the only way out.

But I think if exchange is regulated you can trust it to some degree. Decentralization doesn't save you from scam and other things as we see that people loose more  money in crypto than in other fields.

Institution money or the big money will always use Centralized Exchange unless someone came up for a high end Decentralize exchange but i doubt. they will still used Centralize and volume for centralize exchange has huge liqudity compare to Decentralize EX now . as of now one of the most used Decentralize EX is IDEX volume there is only 0.2% of binance total volume , yes there is still a use case for IDEX like buying under valued coins or atleast before it hit major exchange cause some will still stay away from idex

What is the name of the decentralized platform you are using? Would be good to share if you do not mind.

I confess that I have tried any decentralized perform since I have only a small amount to trade Bitcoin and Ethereum at Bitstamp. There is always a risk of scam, but in the case of Bitstamp it's been reliable and I love their rates and the liquidity available.

The most serious issue however is the possibility of a big hack like it happened in South Korea. I guess that's why more and more people just like you, are going for decentralized exchanges.

How can be so sure with this line? because most trader do use up centralized exchange doesnt mean they dont know how to use DEX? I dont think so, i do rather believe that most people do know how to use that if not then using dex arent really to technical even having an average knowledge on how crypto works will definitely get the idea on how to use up. I know how it feels on going contrary on how should crypto be but dealing with fiat transactions you wont really have any choice.

Infact I feel more safe with centralised exchanges, the rules and regulations makes it more safe for all activities. Though I am not a lover of those scrappy centralized trading platform with high fees

I disagree here. Decentralized exchanges where they store your funds on the blockchain and are open for all to see are ideal I believe. I came across a project called Blockchain Board of Derivatives (BBOD) that does just that. Centralized matching engine paired with a decentralized custody. I think this is a killer combination.

Another killer combination is owing part of said project and advertising it as a viable option, while talking about it as completely unrelated to you

Decentralized exchanges are interesting, but that means no regulation, and you saw what happened to Bitconnect, decentralized exchanges can be a double-edged sword. And average Joe doesn't even understand bitcoin, now start explaining why we need a decentralized exchange.

Most people use it because it is easy, it does not change the way they behave online. People are used to : signing up for an account with an email, and password, that they can recover if they forget.

Ask yourself, how many crypto people actually know how to keep their own private keys. How many traders actually ever made a manual spend, put up the fees, sign the transaction and broadcast? Probably very very few. These guys are just speculators. Traders and what not. They are not interested in crypto or blockchain. If leaves and stones one day can go x1000, they will trade leaves and stones on a platform. Guaranteed.

You say that centralised exchanges are easy to use.. Yep, they usually have nice dashboard and you can quickly learn how to use them.
However, there is a new, big problem. Governments require from centralized exchanges a very accurate user verification and control of financial flow. It is expensive and take a lot of time. It seems to me, that in a short time, users will prefer to use decentralized exchanges rather than wait for weeks to verify the documents, or pay still higher and higher fees.

I'm a fan of forkdelta I have used it for several times buying some undervalued tokens there, there is something to work on the user interface because its not user friendly. The only thing you might dislike the decentralized exchange is that there is no USDT on it. You would have to be the most experienced trader to profit from the DEX is that is the case. Traders want profit, without the stable coin like tether, it would be harder for someone to earn.

Exchanges are growing like mushrooms after rain, each month offers new, but there is not a single exchange,which would like to everyone. Centralized offers more reliable ways to protect and guarantee the safety of our funds, and decentralized advertise guarantees of your anonymity. In any case, only you are responsible for your money and a rare exchange will return you the stolen data and your money. I propose to wait a bit when there will be a more reliable technology of trade, anonymity and safety of our crypto-money.

You want to stay with BTC or USDT. In crypto Industry no one would like to go with the USDT for final level of convertion or holding purposes as I know people go with bitcoin or ethereum to hold and grow well with it.

Organizing the fund with the same value alone you may prefer USD. Then i would like to vote for decentralized wallet and exchanges since very flexible and no middle man in front of anyone.

Even from developing a startup network on InflationCoin (IFLT) we are largely aware of this issue, as smaller exchanges have been habitually contacting us to collect significant listing fees then putting no effort into the platform or worse disabling the site and stealing user funds, so we've been putting more time into getting decentralized exchange listings established through bridges on the Ethereum and Stellar lumens networks. We're also currently looking to have a dex listing and bridge established on the EOS platform as the  DApp user activity growth (https://www.reddit.com/r/eos/comments/9maar4/the_big_list_of_eos_developer_resources/) currently looks promising.

same idea with you. But I think that between them there are many different points but if you exploit well you can still create effective. Security is still the most important factor, followed by volume and rate. It depends on the commercial strategy of you. Over all, decentralization like idex, ddex, etc does not support trade with BTC pairs.

no good dex atm

I agree, everyone uses centralized exchanges as they have normal trading volumes and everyone knows about decentralized exchanges.

In my opinion, this is a very good idea,

Risk is always there weather it is centralized exchange or decentralized exchange.

Let us see if we can exchange coins/tokens through hardware wallet.

Agree with this, I feel only relying on decentralized exchange platforms with extremely low transaction volume or continuous dump processes. will not produce great effect with profit.(Of course, some people are interested in decentralization exchange by the dump processes of the bounty). You need to have a large trading platform for effective trading. It is only available at exchange centralized.

decentralized needs to build in hardware or software, for the average Joe everything needs to happen one click away. People are lazy and stupid :)

Yes, indeed, centralized exchanges have many problems. I believe there is a great future for decentralized exchanges, we can remain anonymous and not experience any delays and manipulations.

True, even just you are starting trading on crypto I do believe too that newbie will really face off decentralized exchanges first before they would go to centralized ones. Most of the time they will surely deal into tokens that are placed on decentralized exchangers.



 What are you talking about man?  ??? ???

Unfortunately, there are not too many options among decentralized exchanges, in addition to the great risks involved in having to access these types of exchanges with your private keys. However, at this time I prefer to take those risks and that is why most of the transactions I carry out as a trader are made on platforms like IDEX. I have already suffered too many problems in centralized platforms such as yobit, poloniex, cryptopia and bittrex to keep insisting on them.

if I don't feel tired, I have to learn a lot with a centralized cryptocurrency trading platform, with many chart features that I don't understand yet. And if it's as if most people consider cryptospace to be the only option available because they think DEX is less secure and costs too much.

Centralized trading and exchange platforms are convenient to use rather that decentralized. And most of the decentralized platform is base only in Erc20 so why should I got tired using decentralized platforms? It's a matter of trust and I believed that those top exchanges are accountable of your account if there is a big hacking event in there platform

The thing actually is that when it comes to user interface, when it comes to easy usage, decentralized cryptocurrency exchanges have not been able to get that into play yet and with that, it would always be hard to see liquidity in place when compared to centralized exchanges.

At this moment, we really cannot do much than embracing centralized exchanges for big volume traders, at least as long as they are compliant to a particular country's law and policies and you are somewhat covered as a user. I would not want to trade where I know to get out of a position will be difficult because of liquidity, would I ?

I mean, a decentralized application can't win the battle against centralized apps. cApps are much faster than any other dApp, try to run a dApp with 100 of millions of users, like facebook, youtube or any other platform that has a huge amount of traffic. Maybe it can, but we will need more computational power and resources. I mean it would be interesting to have an OS that in the core has already preinstalled dApps shop, where you can install it with one click. But I just saw one smartphone project, that tackles that issue.

My comment doesn't fit the thread, anyhow, because of centralized exchanges, like Coinbase, Binance, Bittrex, bitcoin has to gain the attention of the world, without them bitcoin would never touch the $20k.

Centralized will always be faster one way or the other and at the end, those who are regular traders will just have to find a way to trust centralized exchanges with their funds while making it an important thing to try as much as possible to make sure they at least take advantage of the security of the exchange.

From what we have seen for a while now, we can see how lagging most of the decentralized exchanges can be, the terrible nature of the user interfaces which sometimes I wonder how people even make use of it to make a trade easily and the fact that you won't really have that much of a flexibility compared to when you are making use of centralized exchange where you can either trade on the go via your mobile or use some applications.

I am really tired from a system that promotes an easy entrance in the crypto world, but difficults the exit from it.
You can invest a million dollars in crypto in just one day, but most of the exchanges only let you take out the same amount of fiat in weeks or months... or never.

The system promotes an image that does not have, that is very easy of buy and sell. But in the end to buy is easy but to sell (convert to fiat) is not that easy at all...

I also would like to see decentralized exchanges where was simple to buy and sell altcoins, with alcoins and fiat; without the use of bitcoin or ethereum and the fees asked by exchanges.

What is a very good idea, seeing decentralized exchanges replace centralized exchanges? No one is saying it is not a good idea, but from what we have seen so far, does most decentralized exchanges actually have what it takes for regular users to be able to trade, when it comes to fast transactions or trade, when compared to centralized exchanges, when it comes to liquidity and when it comes to usability.

I believe if the usability aspect of decentralized exchange is solved, and they can at least go in par with the centralized exchange platform, a lot of users would prefer it and sure the liquidity aspect would be solved, but we definitely do not have that yet.

if it remains safe, I consider it no problem. but I'm sure decentralized exchangers will grow now see idex traders like trading there because it's fast safe and cheap transaction costs

It is actually that convenience that has drawn a lot of people into making use of centralized exchanges, apart from the liquidity as well. One thing is that at least with a centralized exchange, I can easily make use of the APIs to trade directly on any other application which is something I am not sure we may be able to get when it comes to using decentralized exchanges and then varieties again is another bone of content as well.

I cannot be tired of something actually, when there is no other option available that is better than it, so maybe until we have another alternative to centralized exchanges with great functions that centralized exchanges offer and still decentralized, then maybe by then, I will get tired.

Whatever exchanges we will use the risk is always there and we need to be careful when you have huge amount of funds in the exchanges as this is prone on hacking.

Centralized exchanges are safe and of course they are easy as well as most importantly they can be trusted without any hesitation. In case of decentralised exchanges they are a lot more riskier. At a certain point the trust as well as recognition matters to the traders which can't be gained by decentralised platforms.

Really decentralized exchanges are safer because they work automatically. But all the existing major exchanges that trade shares today are regulated and their trading volumes are much larger than the crypto-currency ones. On such exchanges, investors are protected.

Any centralized exchange makes sense only when there is a third party that guarantees the safety of the work. And which all participants unconditionally trust. But the market is pretty wild right now. And giving your money to a centralized stock exchange is simply a work of trust, without guarantees. For those who understand, this is unacceptable. My choice is decentralized exchanges.

Well, that is one of the reasons why you need to be putting your trading funds at least in a reputable exchange and as much as possible, try to always make use of the additional securities available and most of all, never put in an exchange what you cannot afford to lose, which is still more like not trading what you cannot afford to lose.

There is no guarantee when it comes to using centralized exchanges, but at the same time, we do not have any choice now for traders when it comes to this, considering the fact that decentralized exchanges are even still very far from being usable. In that case, I guess we are still going to be stuck with centralized exchange.

A lot of exchanges right now are actually beginning to take safety standards and protocols seriously and trying as much as possible from their own end try as much as possible to stay secured which is also one of the reasons why a whole lot of them always make use of a cold storage when it comes to funds and only make the funds for withdrawal available at most times when such is implemented.

However, it is always very necessary that people should always take into account the use of 2FA to secure their accounts the more so as to be on the safer side to some extent. The fact remains that when it comes to liquidity, then centralized exchange is our only option most especially for bit traders, so you just have to understand the risks and try to minimize it.

How much benefit do we have on decentralized exchanges? The volume is very modest, the base of traders is also lower. Although, I like the ease, speed and efficiency of the DEX. But by the time you do, you'll want to go out there and look forward to more promising exchanges.

We need to make use of what we have so the decentralized exchanges are very good but we don't have best decentralized exchanges yet so we can choose the best exchanges for trading now and in future more promising DEX will come into market which can provide better servce than the current one.

So far, we have a week of decent decentralized exchanges that could compete with centralized exchanges. however, work in this direction is already underway and I think that soon we will see a quality exchange.

We need more trading platform that are decentralized, after all that’s what blockchain technology was meant to solve, do you know that when you deposit coins to exchanges (eg. Binance, BitFlyer, Huobi, Kraken, Bittrex) they land directly into a wallet or wallets controlled by the exchange owners? The owners holds private keys (passwords) to the wallets where your coins are stored.

The problem with insolvency of centralized crypto exchanges is not known and it seems that the industry does not want to highlight it. This problem stems from the fact the centralized exchanges settle users’ funds only when they ask for withdrawal. This is the moment when the exchange physically sends coins through blockchain. Thus, it is difficult to assess if an exchange is solvent or not and this maybe a source of systemic risk in cryptocurrency markets.

Recently the concept of hybrid trading platform ( www.bbod.io (http://www.bbod.io) ) arrived into the cryptospace where proprietary smart contract wallet system is implored this gives users possibility to create smart contract wallet designated for trading on platforms and nobody except the client has control over it. The platform reserves the limited right to settle clients’ trades daily via the system of smart contracts, that handles the flow of capital (eg. profit and losses from trading).

Large cryptocurrency exchanges have a very strong and dangerous impact on the market as a whole. To prevent this from happening, you need to use decentralized exchanges. Cryptocurrency was originally invented as a decentralized exchange system

What a quality exchange you do seek of? We do already have those exchangers in the market as of now an i dont see for any add ups would be needed.
Exchangers that do become popular and gained too much volume will really go the the way to be centralized.It do already talks big volumes which equals to millions of dollars being transacted.
Even the government on where the exchange located from will definitely impose laws or even taxation if they find out.The good thing on having centralized is the security but talking
about crypto its not fully protected at all.

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Now I do not see the need for new exchanges. We have enough of those that are already there. Anyway, there are practically no trading volumes on the market. Because of what there is no need for new exchanges.

Even I am suggesting people go with the decentralised exchanges because once we attain the knowledge we can store them and we can sell them when we need some sort of money. There won't be any middle for dealing and converting our asset.

I think the main issue here is that we are still in the beginning stage of implementing blockchain in our daily lives. We still get paid in fiat currency so we need a place to convert that to crypto...  :'(

Im use centralized cryptocurrency trading platforms more than 1.5 years and so far I am completely satisfied.Besides, I had the experience of using some decentralized platforms ERC20 tokens. They did not like me

they didnt like you ? thats strange . hmmm , maybe your just trying to say that you dont like decentralize exchanges ? i am right ?  well most decentralize exhange do have a wide range support of erc20 coins when compared to the decentralize one , so i think they are much better if you are a bounty hunter or airdrop enthusiast but if your just a plain trader/investor and you mainly foccus on standard coins , then you'd better use the centralized one's since they are more stable and have a good volume .

I think most of the traders were looking on the security features and the liquidity volume of any exchanges as I think only a centralized exchanges like Binance, Bitmix and others has those features. Traders can find ways to find profits as long as their funds were safe on the exchanges. Risks is everywhere in crypto.

it is clear that centralized exchanges lose in terms of security. However, so far no decentralized exchange can provide the functionality that is on the centralized exchanges.