Bitcoin Forum

 In Decentralized exchanges Funds are more secure.Your funds always stay with you.  I think that they are the future of all asset exchange.
 In centralized exchange you've to transfer
 your crypto to exchange if they get hacked
 all users funds are gone. 

yes maybe it's safe, because we have full control over the wallet. but keep in mind the transaction speed between DEX and CEX is different. DEX seems longer because they are affected by the block. and coin support is still too little. there is no DEX that can be used a cross Blockchain. so that means we can't buy coins that are different the blockchain network. therefore we still need CEX where ahead. except DEX can solve this problem.

About the security, logically speaking it is more than centralized exchange absolutely. But from my own experience, a decentralized exchange is very awfull. Let's use Etherdelta or Forkdelta as an example, I had been using those 2 for years. But after using their exchange, in just a single day my wallet got emptied.
that means, even though its system is more secure logically but keeping the network safe is a different story. There might be a bug around the system that allows the hacker to steal users private key, a decentralized exchange needs more time to mature and to prove its worthiness. For now, let's stick to centralized exchange first.

If the comparison is a matter of the security of our funds, then the answer is that DEX is safer than CEX. But until now DEX has not been able to defeat CEX in terms of trading volume why because most traders are more comfortable using CEX and to overcome security problems I think traders already understand how to reduce the risk of accounts being hacked or CEX itself being hacked or down as it happens with some CEX before.
Most goal of trading is get income or multiple the asset so security of the fund isn't in first place to concern if the volume trading can't make traders get profit enough.

I agree with what you said. However, people are still trying to evaluate all options except DEX. We can see traders even on exchanges known to be SCAM.

Actually base on my personal experience One of the decentralized exchange EtherDelta was also compromise in 2017 at that time im doing trading when it suddenly shutdown i was afraid that my account was also compromise since im using my private key and not using metamask But luckily it was repel and the DNs was not compromise thats why even a DEX has flaws and vulnerable to any attacks so for me Decentralized or Centralized exchange still vulnerable. Im using Binance for my day trading activities and im glad that Binance was stored most of its crypto in coldwallet for more safety. im using both DEX and CEX so im not bothered with who's more secure or not!

Yes I agree that decentralized exchanges are more secure
You control your own wallet and fate

With dex, no project has experienced scam exits and everything is smoother

yes, in my opinion Decentralized is more dangerous than Centralized Exchange, the reason is if Decentralized exchange is hacked, we will lose all coins/tokens in our wallet, because DEX directly uses the wallet or private key address, while at CEX, we send one type of token/coin, even if hacked, only one type of coin/token is lost. without the intention to drop the Dex exchange.

You are right because till date decentralized exchanges offers the best type of fund security unlike centralized exchanges. But in both exchanges they have their differences and also why one is preferred over the other. Decentralized Exchanges, despite offering higher security still lacks speed which is seen in Centralized exchanges. Also, decentralized exchanges lacks good UI as compared to their counterpart. That is to say, speed and good UI are the reasons most prefer centralized exchanges.

However, you must still follow the necessary safety measures. Many users lost funds due to phishing attacks.

It would take a million of warnings and a million hacks to centralized exchanges before we can ever see people sticking to decentralized exchanges, I like DEX but the volume is what lures the traders not the safety of their funds, they can afford to lose them all. It may change one day because of the projects today which all dex will try to integrate each to have liquidity.

Dexes are great, because they are not effecting your tokens, but the problem that there are no truly decentralised exchanges. Even IDEX, has a dashboard with KYC requirement right now and Forkdelta is shutting down if they would not achieve enough funding.

Logically speaking, decentralized exchanges should be more secure than centralized exchange but not with the current DEX we have. The decentralized platform aren't actually decentralized per se, consider IDEX as an example. They now require KYC verification which shouldn't be possible with a decentralized platform. Same goes for hacks and the other faws of a centralized exchange, decentralized ones are also experiencing. A decentralized platform shouldn't have the ability to restrict certain geographical areas from accessing their platform but we know some do e.g Binance DEX

Up-to-date, i don't think we have ever had a truely decentralized exchange, the technology hasn't been perfect yet that's just the theory I'm going with. Decentralized exchanges should be more secure but they aren't.

From all indications, it has always been said that decentralized exchanges do not pose threat to one's fund, because you control your fund by yourself on the blockchain. Despite that, you should not depend totally on that school of thought and then leave your fund there. Irrespective of whichever form an exchange is taking, whether centralized or decentralized. do not leave your fund on them, because there is no exchange that is 100% secured.

Yes more secure because you have your private keys to yourself and no exchange can wake up one morning and tell you stories of why Withdrawals have been disabled because of a hack suffered by the platform. But then decentralized exchanges has to work on their user interface and operability to make navigation and trade easier for prospective cryptocurrency traders

There is no argument to debunk the fact that decentralized exchanges are more secure than that of a centralized exchange but one major thing why decentralized exchanged are still lagging behind is that everything is slow on the decentralized one. Executing trades isn't that easy on a decentralized exchange. Also, if private keys aren't handled carefully, you may give them to a phishing website owner to get access to the rest of your tokens which isn't likely in a centralized exchange.

Yes. In decentralized exchanges, we have full control of our coins. While on centralized exchanges, they regulate some things related to transactions and our data. Actually, for safety and anonymity reasons, I prefer to choose decentralized exchanges.

Dex is safer than other centralized markets. after a number of hack cases occur you should not store assets in the problematic exchanger. Even binance has a hack case even though it can be resolved quickly.

yes I think a good and safe binance exchange I use in trading, because I myself also have long used a binance exchange also remains safe to store my assets

Yes, you are right. But all decentralized exchanges have a very little view. So, what does it mean? Did people lose their faith from the crypto's decentralized nature? Binance DEX is a manipulating centralized exchange, there is no proper decentralized exchange right now, except forkdelta, tokenjar, and some very little ones. IDEX is like become another manipulate decentralized exchange now.

I suppose that full potential of DEX exchanges is not discovered by users yet. I remember my first experience with DEX exchange - that was not easy in comparison with centralised exchanges. It is good feeling that your wallet is under your control only but you have to be patient to learn how to operate on DEX exchange. It's the matter of time for DEX exchanges. The more you have practice with it the the more you become familiar with DEX.

I have been compromised once in a decentralized one, I nearly lose my 1000 dollars, but luckily I got it back. I can't remember the exact date but it was when someone from etherdelta, they've got issues and the guy pays back compromising accounts of the consumers. On the other hand, in a centralized one, it is almost half a year and some of my alts are in there. In different centralized exchange I never had any issues between them, this is base on my experience, only the fees are bugging me because it's high but the security is good for me.

Decentralized exchanges are not secure more than centralized one, your coin does not always stay in your wallet.
You will need to transfer it to exchange wallet, for example in forkdelta, you need to deposit your eth to forkdelta eth address.
We must very careful when opening the site of decentralized exchange because phishing danger.
There are no 2fa in DEX, once you have been phished, it will be over.