Are you tired of centralized cryptocurrency trading platforms?

[upsidedown75]

Centralised financial exchanges are more vurneable because of their centralization. This means that money deposited by users is often held in one location. For hackers, that location is known as a honey pot the sweet spot they aim to attack. Centralised exchanges have a history of poor security, and they haven’t performed particularly well in recent years. Considering this threat, the decentralized model is preferable, as users get to maintain custody of their own assets and engage directly with a smart contract to exchange tokens with other users in a peer-to-peer fashion.

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.

[wuvdoll]

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.

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.

[777Jolami]

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.

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.

[jrrsparkles]

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.

[WackMack]

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.

[juwon55]

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 ) 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).

[CryptoPowerL]

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

[milewilda]

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.

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.

[Mohizadja]

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[WackMack]

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.

[legendbtc]

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.

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 middleman in front of anyone.

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.

[newb2pro]

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... 

[corrado25]

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

[pinoyden]

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 .

[choychoy]

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 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.

[mrSamuel]

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.