Bitcoin Forum

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.

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

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.

Yes, it can bee seen in his personal message and also the signature.  ;D

Maybe he does want his website to be checked out, which is what I am doing right now.
He made me bite that bait.  ;D

Wait I saw one on google, he made a thread here but the link is dead. As to why, it needs digging.

https://i.ibb.co/93pg3hn/coibaazar.jpg (https://imgbb.com/)

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.

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.

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.

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.

Is Bisq (https://bisq.network/) 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 .

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.

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.

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.

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.

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.

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 currently
seeing 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 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. .

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.

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.

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.

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.

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 .

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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. 

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.

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.

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 .

One thing i need to clarify from my mind is if it is impossible for DEX exchanges to be hacked.

It is not impossible to hack anything that existst on online platforms, it only becomes impossible when it is offline. That's why people don't throw away their old phones, notebooks and they prefer to hold it for storing valuable keys. DEXs are not the hack-proof and biggest weakness of it is scam without any reconcile 

Centralized and Decentralized exchanges had pros and cons, decentralized lack of liquidity and the majority of them are a low volume of traders while decentralized you can ask the support team anytime when had trouble or issues.
Ain't know much about decentralized how it works but centralized exchange for is still the best. Both exchanges are a risk to have transactions or let say storing your coins by not having full control. I may advise people not to store a big amount on the exchanges to have more secure on your coins.

Perhaps both are useful, but in reality majority that are more popular was centralized exchange platform.
If you are going to see and check the top 10 exchange almost all of it are being categorized as centralized based system.
Though, I seldom used decentralized exchange which is IDEX only.

You mentioning coinbaazar and wearing its signature obviously makes your opinion biased. As someone already said, you can simply create an ANN where you can just enumerate important details like unique features and advantages of your DEX.

Yes dex exchanges have low volumes  but whats good with them is that dex exchanges mainly foccus on altcoins and erc20 coins  . this the reason why airdop and bounty hunters love dex exchanges such ad ed/fd because they are the ones that list their coins  . when it comes to support and other service i think centralized exchange are more better  .


Dex exchange are more safer than centralized ones because in dex exchange you are in control of your account  in which you will only be using your private keys to log in  .

People don't consider about the economical situation they need only the profit for his investment if it was happening then they can carry to the way so I don't think nothing will decide the changes in this economy.

A truly p2p network dont got a backend to hack only users.

Sooner or later we are all swapping coins decentralized from our wallet but right now it all have to mature and progress over time.

I doubt we'll get to a point where everyone is using a decentralized exchange, because there just isn't a way to make every single coin move back and forth as quickly as it does through a centralized exchange.

I hope that I will be proven wrong and decentralized exchanges turn out to provide a similar level of usability and convenience, but if so, it will take more than a decade for sure.

Building decentralized exchanges is something that doesn't yield anything at this point. Who's funding the best developers in the world to work on something like this when the reward is just respect and recognition?

In crypto money speaks, and when there is no way to get back what you put into whatever project, it very likely won't end well.

From our experience of seeing exchanges being scams, security systems of exchange sites were hacked like happen to bitfinex and mt gox. Of course we then think that decentralization of exchange is indeed very useful. I know openbazaar and it offers an open and decentralized market, and there are still many other exchanges that are decentralized like local bitcoin and bitsquare, but I think people are more likely to use centralized exchanges now

Hahaha, op is trying to shill his project and don't know the best way to do it, in don't think people really focus on decentralized exchanges because they are just so complicated to make use of than centralized exchange, though they might be more secured because the team behind the project don't have access to your private keys and hackers might never have access too. I believe if a user friendly DEX could be built, then we would see a lot of people making use of decentralized exchanges than centralized once.

Without a poll, it is obviously glaring that many people would prefer DEX exchange if you look at the percentage of usage of CEX to DEX. I guess that we just still prefer to be in that bondage of third party, and that is why majority of people are still not using cryptocurrency for what it was actually established for.

We use crypto for investment and we conclude that we are using it already while many of us are not fully supporting these new projects that have been established to make the rook of cryptocurrency firm.

How many of us has a platform for products and has integrated crypto payment, how many of us as paid attention to the ones that has intergraded it and start paying them with cryptocurrency, meanwhile this is exactly what we need to be doing for the decentralized nature of the system to be fully utilized.

We should ensure that , now  a days there are so many platforms according to one's need , and be it for investing or trading , we should ensure that funds are safe and secure. We as people hardly checks out new platforms and thats where the problem is , we should avoid putting all eggs  in one market.

This is more like an advertisement to me I mean if you are asking about those exchanges why dont you just go straight to the point instead of blowing questions like this and i really think most people dont know about your exchange site very much

I use both of them, centralized and decentralized, alternately. Depend on the needs. But I often use centralized exchanges and for security reasons, I usually only deposit my coins when I want to take trading action. The rest, I will save my coins in my personal wallet.

I prefer an exchanges where I can be more secured whethear its centralized or decentralized, and beside i don’t put much money on that only for my trading funds. Both have their own disadvantage but always choose the top exchanges for less worries because we know they are number one because of a good system and security though hacking can still happen.

Always people prefer prefer an exchange where they feel themselves secure. Next thing preferred is the good trading volume, only with that it is possible to make a trade successful consecutively. Right now we've got more than 2000 cryptocurrencies which show the growth, to the continuous increase in the cryptocurrencies there is also need for listing of good potential coins regularly.

Centralized exchanges are mostly preferred by traders while decentralized have their own significance and advantages. Disadvantages exist on both sides but all we need is to stick to it for a good price movement which may rush on the search engines very soon for Altcoins as well. Bitcoin has already shown its potential this day as it turned to 6677 US dollars with 10% growth reflects fine profit for traders.

Finally we have a good news , market is pumped , lets wish everyone that a patience of almost 1.5 years is over and now people can finally make some money.

If trading volume will be the key factor then possibly exchanges like binance and btc-e will never be hacked.