Centralized and Decentralized Exchanges

[Greeenmtn]

Okay that is one good table and better to understand. Perhaps you shouldve just stickied something for a better image of it.

I just dont get it. Looking at the table I would still prefer to use decentralized exchange. Why is it that it had a low volume suddenly when this centralized came in.

Aint it better to have a privacy for safety and also low transaction fees. I mean it is almost free rather than paying a lot for a pool transaction which takes forever before it could go back to your wallet.
I just cannot believe how could all of this happen.

The problem with most DEX's is there are gas fees for every trade, gas fees for every cancel, signing every order manually, confirmations needed for orders to be accepted, confirmations required for fill before you can exit a position, etc. DEX's UI needs to be infinitely better, and the speed needs to be equal to centralized exchanges. All while being non-custodial....

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[livingfree]

I used both decentralized and centralized exchanges and to be honest I'm liking more the service of centralized ones. I'm into decentralization but if its for convenience, well we can't deny on how good these centralized exchanges on giving that satisfaction level that every customer wants. I'm not very familiar to say that they are insured but if an accident comes by (which I don't wish to happen) you can't say on how secured and insured your funds there.

[Abosede]

One of the good thing about this forum is that you keep learning everyday,when you think you know enough, then you get to see something you don't know yet.Thanks for this info,I guess decentralised exchange might take over if the exchange is able to overcome low volume,charges might not be that important as long as you have your privacy.

[gensol]

The two has its pros and cons CEX outweighs Dex with liquidity benefits despite the fact that Dex gives me opportunities to manage my funds myself from my personal wallet that I Co trol the keys, I'll always choose CEX over Dex. CEX is user friendly u like Dex benefits keeps rolling in.

[baigreen]

I think these exchanges have their pros and cons. However, many want to make deals and remain anonymous. If the price of a coin is good for a coin. No matter on what exchange it will be sold. I am sure that the difference will not be 10%.

Well, I like both of these options.

[PuertoLibre]

Okay that is one good table and better to understand. Perhaps you shouldve just stickied something for a better image of it.

I just dont get it. Looking at the table I would still prefer to use decentralized exchange. Why is it that it had a low volume suddenly when this centralized came in.

Aint it better to have a privacy for safety and also low transaction fees. I mean it is almost free rather than paying a lot for a pool transaction which takes forever before it could go back to your wallet.
I just cannot believe how could all of this happen.

The problem with most DEX's is there are gas fees for every trade, gas fees for every cancel, signing every order manually, confirmations needed for orders to be accepted, confirmations required for fill before you can exit a position, etc. DEX's UI needs to be infinitely better, and the speed needs to be equal to centralized exchanges. All while being non-custodial....

For small comparison, i think DEXs are like Linux and centralized exchanges are like Windows operation system. User should be able to trade with given tools on decentralized exchange by all means. I don't deny the fact about usefulness of centralized exchanges but everyone has different needs,skills,experience so depending on the situation both are required for proper trading.

[taratorly]

The most important problem with DEXs is the process of entering and leaving the market. As long as there is an entry&exit being centralized to the market, DEX does not have much logic. Fiat-Crypto-Fiat solution needs to be presented in a way to adapt to the DEX exchange.

[charlop24]

In my opinion, the decentralised exchange are safer to trade due to the lesser risk of hackers and the fact that every transaction is opened. The centralised exchange could be very irritating due to their extortion of the masses and they may end up siphoning peoples money without any sanctions. The news on them getting hacked may not be true and they use that as a means of scamming the public.

[Matthewmorris4]

The problem is for now, people don't think about choosing whether the exchange is centralized or decentralized, in the end they prefer an exchange that has high efficiency and security, even we know that exchanges like Etherdelta / Forkdelta have been hacking incidents right?
For the highest priority, we talk about people's money and security, not other facilities or features that are not too important

[LD2164]

You can do atomic swaps directly across chains and between local wallets with Blocknet and BlockDX. It's fast and secure and easy. No sign-up or KYC, Link in my sig

[BTCreward]

I prefer decentralized exchanges, although I have no confidence in any exchanges. And use the exchange waiting for the storage of funds is very stupid.

[mirakal]

I prefer decentralized exchanges, although I have no confidence in any exchanges.

It's not a wise decision to choose a decentralized exchange when you do not have the confidence, what benefit you are getting?

And use the exchange waiting for the storage of funds is very stupid.

Both centralized and decentralized exchange are not good for storing your funds,  it's vulnerable to hacks.

[beachbummer]

And use the exchange waiting for the storage of funds is very stupid.

Both centralized and decentralized exchange are not good for storing your funds,  it's vulnerable to hacks.

I thought it was not possible to store funds in a decentralised exchange? The concept should be a direct debit/credit between wallets of the users involved in the trade?

[Adya]

decentralizede exchanges have low volumes but they can be used for buying cheap. just make order and wait. or there is already orders with huge pool and small price. on etherdelta any young and perspective erc20 token.

[Greeenmtn]

I would encourage you to check out decentralized exchange LEVERJ.io which is moving to mainnet soon. User interface is simple, will be fast as centralized, and incentives are aligned to encourage market makers.

I guess every dex has the same speed with another dex. But the only difficult thing to attract the demand to use the decentralized exchange but the fees has become the main problem that makes a lot of people are still using centralized exchange site rather than dex. There was no a lot of differences in the speed comparison

X-Ray - LEVERJ will be as fast as centralized exchanges, and there are no gas fees for cancels or trades. Coming to mainnet veeeerrry soon.

[sehoon]

Are there any people who actually use centralized exchanges? Like for instance they really have to use it because there is an advantage in it or their coin is just listed there? Or in general decentralized exchanges are way better or centralized exchanges are way better? And is there a time that trying to exchange your tokens in a decentralized exchange or centralized exchange is better?

[wuvdoll]

Hackers could potentially find a way into any of them so its always a security risk, just because its decentralized doesn't mean its 100% safe. I agree that trust is lacking in may exchanges right now even if they are decentralized because we have seen too many "hacked" stuff recently and we are really afraid what could happen next.

Maybe someone will figure out a way to pour all exchanges into their own wallets on a decentralized exchange and that way get all the money they could until they are stopped? Who knows how it could be done but in the end crypto currency space is getting once more the most trustless place on earth where people only trust themselves and even do that barely.

Just go with an exchange you know and used so far and it doesn't matter if its decentralized or centralized because if hackers aim at a place it will not matter.

[mcnocon2]

Decentralised exchanges are the future of exchanges even Binance knows that, they plan to launch their Decentralised exchanges. They are now in some trials, binance knows that decentralized exchanges have better security feautures than centralized exchanges.

[smyslov]

Decentralised exchanges are the future of exchanges even Binance knows that, they plan to launch their Decentralised exchanges. They are now in some trials, binance knows that decentralized exchanges have better security feautures than centralized exchanges.

This I agree I have done several trade on decentralized exchange and I can trade safely and withdraw my coins/tokens faster than these centralized exchange and besides we are promoting decentralization, so why not shift to decentralized exchange.

[pundit]

You have perfectly differentiated between centralize and decentralize exchanges, other to this I would like to add, centralize exchanges are fast to operate whereas decentralize exchanges are very slow in operation.
One of the popular decentralize exchange is forkdelta which you forgot to mention. Personally I prefer centralize exchanges over decentralize due to high liquidity. Funds are equally secure in good centralize exchanges so one need not to worry.