Centralized vs Decentralized Exchanges - Which ones are better?

[reflector]

Centralized may be good one for the people who believes government and regulations on exchange are better and at the same time we need to wait for all rules to follow to exchange even a shit coin. I don't think it will work better.

I need to go with decentralised exchange only because no KYC and no worries to deal with the traders there. It will be easy access to the people whoever want to use.

[minime0105]

With centralized exchanges, intermediaries such as companies act as middle men in order to facilitate trading on their platform. In exchange for providing this service, intermediaries collect trading fees. In essence, centralized exchanges often act as the first point of contact for newcomers that are interested in trading cryptocurrency.

While,

One of the more attractive features of cryptocurrency is that it cannot be controlled by any central entity(decentralization).  On peer-to-peer systems such as the Bitcoin network, the transfer of value does not require the involvement of central authority, because transactions are validated by a distributed group of miners that exist on the network.

Precisely my point. There are, of course, different pros and cons to either exchange but ultimately it depends on what you're trying to do and decide on what are the best measures to achieve that because some exchanges are better at say fee price but not turnaround etc.

[BitHodler]

First, the interface are friendly, platforms are easy to use and the fees are minimal. Unlike decentralised exchanges that are difficult to use and the fess are outrageous.

Not sure which decentralized exchange you have used and what exactly you traded there, but fees from crypto to crypto trades are pretty low mostly and relatively easy to conduct in case the trade confirms quickly.

I know that fiat to crypto trades do come with pretty high fees, but this directly is against decentralization since you're using a centralized (mostly expensive) payment service to complete the trade.

I don't think we'll ever be able to trade fiat to crypto in a truly decentralized manner. The only viable alternative is USDT, but you still need to cash out through Tether in order to end up with fiat, which not many people want to do.

[iamwagner]

Decentralized exchanges are way better for me.  I love the fact no one is in charge of my funds.  It seems to be the fairest and most clean way to do almost any type of business.  Cut the middle man right out. 

[otundebis]

Both decentralized and centralized exchange have there advantages and disadvantages.  Decentralized exchange volume can be very low and prices might not be set up or improve on.  Centralized exchange safe guide investors from ridiculous pricing and create good volume and liquidity for cryptocurrency trading!

[hiru65]

Those are the two types of exchange. Centralized is the market which control by a central authority. For and example when we do any transaction we have to submit it for them and they will do our transaction. But in the case of decentralized it is directly transact. When we submit you will buy directly no one helps to transact those. The main disadvantage of decentralize is it is tend to hacked in most of the time.

[coffigayo]

Yes, a decentralized system is information stored by one source when distributed. But there are also coins that are only traded on a decentralized exchange, so I put an end to all these inconveniences. Also, there are situations where at one time operating through decentralized exchanges turned out to be very profitable.

[deus030518]

Centralized Exchanges
Pros: Each centralized trading platform is providing a wider diversity of services, but takes away  a certain freedom at the same time, it can be viewed as positive and negative future. Centralized Bitcoin exchanges hold the cryptocurrencies in custody to make it easier to trade them.
Cons: For many people, convenience and cost are strong enough benefits to justify the continued use of centralized exchanges, but there are also risks involved. The largest risk, and one that many have highlighted in recent times, is the chance your cryptocurrency will be confiscated or compromised. Even if the centralized exchange doesn’t act in explicit bad faith, their entire network is set up like a honeypot that just serves to motivate hackers.

[okocrypto]

Just to clear your doubt, compare the successes and reputation recorded by popular decentralised exchanges such as Idex and EtherDelta and that recorded by centralised exchanges such as Binance and OkeX and am sure you will know which is better. Decentralised exchanges are sometimes boring to use and always a good option for nefarious activities unlike centralised exchanges where this happens but not at an alarming rate. 

[wuvdoll]

More and more Decentralized Exchanges are popping up, but are they really what they are hyped up to be?
https://www.youtube.com/watch?v=d-xA7p9NbdI

I think the concept is great, but at the moment they are really hard to use because of constant downtimes especially on IDEX and EtherDelta. What are your thoughts on this?

Honestly it is not about one is better than the other, they both have their own good parts and bad parts. A decentralized exchange like shapeshift will allow you to keep your coins on your own wallet and this is a lot better for security reasons but you will have to have your own wallet on your pc or somewhere which creates added work flow and you can't use bots or whatever on stuff like that.

However, on centralized places you are basically trusting the exchanges with your coins and they keep it for you but you do not own the seed of your wallet which means you are basically not the owner of your coins, you are just at the hands of that exchange however it is easy to just simply buy and sell directly which makes it faster. So it depends, one is good on security, the other is good on fast and ease of use.

[tailwate07]

Decentralized exchanges are way better for me.  I love the fact no one is in charge of my funds.  It seems to be the fairest and most clean way to do almost any type of business.  Cut the middle man right out. 

You need to understand the fact that those decentralized exchanges also being operated by some middleman. Still, I agree with you that decentralized exchanges are far better than other exchanges. But unfortunately I'm not finding all my preferred are coins are being listed out in decentralized exchanges. That is the reason I'm still going for centralized exchanges.

[Coin_trader]

I have tried some exchanges, both centralized and decentralized and in my point of views, they are both having their advantages and disadvantages. Etherdelta for example needs to have ETH balance before you make a deposit and before making a trade which is unnecessary for me, Binance and some other centralized exchanges are easy to use but needed so much actions to be eligible to use their platform like e-mail verification, KYC (some) and some other actions that might be necessary to protect your funds. But as for me, I go for the centralized exchanges.

[pant-79]

Of course, work on decentralized exchanges has a number of features. There are certain difficulties that one has to face. But on centralized exchanges, too, not everything is as smooth. When working on them, too, there are certain moments. So if the coins that interest me are traded on centralized exchanges, then I'm bidding exactly there. But there are also a coins that are traded only on decentralized exchanges, so I endure all the inconvenience. Also, there are situations when at some point to conduct an operation through a decentralized exchange it turns out to be very profitable, then, of course, I risk and spend the purchase or sale there.

[Mahanton]

Of course, work on decentralized exchanges has a number of features. There are certain difficulties that one has to face. But on centralized exchanges, too, not everything is as smooth. When working on them, too, there are certain moments. So if the coins that interest me are traded on centralized exchanges, then I'm bidding exactly there. But there are also a coins that are traded only on decentralized exchanges, so I endure all the inconvenience. Also, there are situations when at some point to conduct an operation through a decentralized exchange it turns out to be very profitable, then, of course, I risk and spend the purchase or sale there.

The convenience or inconvenience I do experience between DEX and Centralized exchanger in on the KYC or verification procedure and this is why some people do love to use up DEX due to that reason but eventually as you say there are coins which are only being traded on DEX where you don't really have any choice but to sell it on. Centralized exchange is more convenient on my part but there would really be some disadvantage which is somehow expected.

[checkmatesir]

Centralized may be good one for the people who believes government and regulations on exchange are better and at the same time we need to wait for all rules to follow to exchange even a shit coin. I don't think it will work better.

I need to go with decentralised exchange only because no KYC and no worries to deal with the traders there. It will be easy access to the people whoever want to use.

All centralized exchanges are not having any big advantage compared to decentralized exchanges in my experience. For me, KYC is a big headache. I am into crypto world because I prefer to stay anonymous whereas these centralized exchanges are killing the basic concept of crypto currencies. In deep thinking, I am not finding any big advantages from centralized exchanges compared to decentralized exchanges.

[manggis97]

In my opinion centralized exchange is more user than decentralized, we can see now the top 10 exchange according to daily trading volume is all centralized exchange.  Many trader chooce centralized exchange because some reason,  like cheap fee transaction,  they has full feature ( buy and sell order with instant,  stop limit) , many option of coins, and lower spread. 

[Pattart]

Centralized may be good one for the people who believes government and regulations on exchange are better and at the same time we need to wait for all rules to follow to exchange even a shit coin. I don't think it will work better.

I need to go with decentralised exchange only because no KYC and no worries to deal with the traders there. It will be easy access to the people whoever want to use.

Some people might like exchange centralization because it has clear rules and support that helps, and some people might like decentralized exchanges because they are more freedom. but I myself don't know which exchanges are centralized and decentralized? can you give me example where does desentralized exchange?

[terencio]

I really like using decentralized exchanges now and appreciate the platform more because the transaction fee is less, kyc is not needed and very easy to withdraw but the problem it has less volume compare to centralized exchanges.

[Sawadekub]

I think that for an advanced trader, the use of centralized and decentralized exchanges is a necessity. While centralized exchanges provide only a limited number of trading pairs (in particular, those currencies that have already gained popularity and have been on the market for a relatively long time), decentralized exchanges provide access to new tokens that are not being traded anywhere. And this is a great opportunity to earn. And if you need to endure some inconvenience and spend a little time in order to figure it out, then I am sure that it is worth it.

[kickdapa]

Though I liked Decentralized Exchanges once, but now I feel comfortable in the centralized exchange. It is safer exchange than Decentralized. Decentralized exchanges have many issues. If you face any problem or if your coins stuck in exchanges or anything else then no one will help you on time. But In centralized exchanges, you will find instant help. Though Idex is very different decentralized exchange and that's why idex is the best.
Centralized exchanges take high withdraw fees but they are licensed and your coins will be safe there if you enable strong security. We need both types of exchanges to trade our coins. Because many coin only list on Decentralized exchanges and centralized exchanges doesn't list all coins!