Virtual currencies seem to be the way of the future. It offers decentralized freedom from both greedy governments and handsy financial corporations who are ready and willing to take your hard-earned money. Even though this is a common sentiment among crypto enthusiasts, these very same users are actually using centralized exchange platforms to keep their money. It may not be the bank holding their funds, but those funds are still being held, only now by the operators of the exchange.
An additional threat to these centralized exchanges are hackers. Security breaches have been reported by many well-known exchanges, including Bitfinex, and more recently, NiceHash. As crypto’s popularity and adoption grows, so too does the need to have a safe and secure decentralized method to convert your fiat to crypto and vice versa. Blockchain seems to be the answer as its completely decentralized, which is one of its selling points, which will allow users complete control over what happens to the funds.
Read more of this here...Decentralized exchanges should now be the norm so that we can get away with the many problems and possible problems encountered by many centralized exchanges. It is quite ironic that we are dealing here with decentralized cryptocurrencies and yet we let our currencies to be stored in centralized platform. The time has come and it is even late for us to promote and use decentralized exchanges.
What are the best decentralized exchanges we should use then? Please share if you know one...