Decentralized vs centralized cryptocurrency exchanges, which one is better?

[thefoex]

I think both have their advantages and disadvantages. so there are no good and bad, all complementary. DEX and CEX, both are needed for the market. I use both types of exchange and I like both.

[1714856183]

1714856183

[1714856183]

1714856183

[Ispep]

It's all depends on customers choice and the use cases of the particular exchange,the both are good and I make use of centralized exchanges for some reasons.
And by the way decentralized exchanges are just coming up and are not yet as widely used as centralized ones
The major point to consider when choosing an exchange is security,and centralized exchanges provide them sufficiently

[beerlover]

In decentralized exchanges, I need to do extra transactions hence I need to pay extra gas whereas in centralized exchanges just a only one transaction is enough to start my trade. But, basically centralized exchanges are against why we are having crypto currency. Moreover, we are still depending on a third party even in the name of decentralized exchanges. Even for decentralized exchanges, the platform is being provided by a third-party and at the time of actual transaction we need to depend on that third party to finish off a trade.

I do believe the actual decentralized the way of exchange will be trading within our friends and relatives and with known forum members. I believe this will be the future and what we are having in the name of centralized or decentralized exchanges may get vanished over the time.

[Yasya]

Confidentiality is a basic human right, but centralized cryptocurrency exchanges do not support it under the pressure of regulators. Users must provide the exchange with their personal data, including a scan of their passport, home address, and personal photo with a passport in their hands. All information about users and their transactions, not only is stored on the stock exchange but also is transmitted to the tax authorities of those countries that are parties of the agreement Basel III. The list of countries which sign Basel III contains 121 states. Any person who has administrative access to the cryptocurrency exchange can identify anyone who sends and receives payments. These trade data can be easily stolen by hackers and sold to anyone, as well as can be used in other unethical or criminal activities. The first wave of decentralized exchanges, although not perfect, provided a greater degree of confidentiality. The absence of the registration process or centralized management meant that the users' personal data was not saved or transferred to anyone. At the same time, the P2P protocol eliminates the possibility of theft of funds or personal data. Decentralized exchanges solve the key problems that centralized exchanges suffer from, but they are far from ideal and need to be improved.

[zhekinsp]

Until now centralised exchanges are most preferable exchanges by the traders so it could be the best if a regular trader but in security of your funds centralised exchanges are highly not recommended.

[Yasya]

The next generations of DEX platforms need to develop solutions to the problems that have constrained their predecessors. First, the main problem is liquidity. Users should know that if they want to buy or sell some currency, then at the other end there will always be someone who is willing to trade with them.

Finally, it is very important that decentralized cryptocurrency exchanges offer a simple and convenient user interface. Earlier DEX was a platform developed by experienced users for other experienced users. If decentralized exchanges want to develop, then they should make a user-friendly interface even for beginners that will be no worse than Binance or Bittrex.

[Olayinka225]

As for me, I think I will go by centralized exchanges, but as a project manager, I will go with DEX. Some dex transaction fee is alarming dito to some centralized exchanges as well. But all the same DEX exchanges sometimes curb early dumpers from bounty hunters.

[LD2164]

The next generations of DEX platforms need to develop solutions to the problems that have constrained their predecessors. First, the main problem is liquidity. Users should know that if they want to buy or sell some currency, then at the other end there will always be someone who is willing to trade with them.

Finally, it is very important that decentralized cryptocurrency exchanges offer a simple and convenient user interface. Earlier DEX was a platform developed by experienced users for other experienced users. If decentralized exchanges want to develop, then they should make a user-friendly interface even for beginners that will be no worse than Binance or Bittrex.

The Blocknet has already solved both these issues. First by making its decentralized orderbook available over API, so that exchanges can share liquidity. Second by putting development into an application that looks/feels enough like a traditional CEX with an automated installation/setup process.

Also the fees are currently really low. I think takers are paying a set 0.015 Block for a trade right now.

Come try BlockDX on Blocknet. Links are in my sig

[thaliaand]

Both has its plus and minus. DEX and CEX have their own advantages and disadvantages, but also depends on the exchange itself in term of providing a convenience platform for trading. There are some hybrid exchange outhere now, so, I think users will have more option to decide in which exchange to trade.

[Yasya]

And the most important aspect of centralized exchanges in their present form is that they cause direct irreversible damage to cryptocurrency. Their main business for them now is Altcoin Casino. Their acts focus on the quick increase of certain altcoins cost, manipulation of the course, cutting clients, when suddenly the asset goes down unpredictably, smashing feet and mowing down deposits of gullible traders. Centralized exchanges open OTC platforms in order to put pressure on the price of assets, create visibility of nonexistent bids and offers. Such DEX platforms created by centralized exchanges is a mockery of the idea of ​​free cryptocurrencies. That is why Vitaly Buterin wished them to burn in hell.

As long as people trade on centralized exchanges, we will expect a fair bitcoin exchange rate for a very long time.

[caffu chino]

both are good, depending on what you want to look for. if you are looking for a large volume CEX is the choice. but if you want DEX security the right choice.

[SaRmY]

I can not choose for myself one exchange. Since they often perform completely different tasks for me. And sometimes my trading is much more successful on decentralized exchangers.

[justdimin]

I can not choose for myself one exchange. Since they often perform completely different tasks for me. And sometimes my trading is much more successful on decentralized exchangers.

Successful in what sense ? Your orders get executed in more quicker time in decentralized exchanges ? I am sorry, I am not getting your point. So far I have used only centralized exchanges and I do hear the centralized exchanges are only for trading tokens. But, I'm not sure how you will be successful with your token trading compared to coins trading in centralized exchanges. Is there anything more that you have missed out to add here ?

I am familiar with centralized exchanges, even exchange hacking are happening more frequently, I am sure I am well aware of how to protect myself. My choice is centralized exchanges.

[trade2winnn]

It is difficult to say in moments when there is hacking,and hackers,maybe even better than Central,because it can block accounts,but decentralized and gives more freedom,many can not afraid that their accounts of what happened,or project managers powerout,but the human factor is also not necessary to exclude the greed of people

[timmmers]

Vitalik Buterin said one day, that centralized exchanges will burn in the hell. I think that he knows what he is talking about. Thanks to centralized exchanges so many coins were stolen, so many IDs were abused by hackers and many more bad things were done by CEX.

[bitcoin-shark]

on a personal level i prefer decentralized exchanges that can not be controlled, influenced by anyone, hybrid exchanges i do not like them at all, centralized exchanges could be good for beginners as long as the kyc is optional and not mandatory...

[smoolae]

Personally, it is like this:
Decentralized exchanges are usually built for some certain protocol (ERC20, Stellar, NEO) and are not compatible over different coins. But decentralization is the securest way to have the exchange, shutting down is impossible.
Centralized exchanges are comfortable to use and their UI is nicer and easier to use. 

[nikola22]

centralized cryptocurrency exchanges are much better than decentralized at this moment of time. and trading volumes prove this statement.

[StarofBTC]

on a personal level i prefer decentralized exchanges that can not be controlled, influenced by anyone, hybrid exchanges i do not like them at all, centralized exchanges could be good for beginners as long as the kyc is optional and not mandatory...

I heard few decentralized exchanges also started enforcing KYC. What we are calling as decentralized exchange is not purely a decentralized platform for ensuring all the freedom and concepts of decentralization but the part of having control on our privatekey alone made many people to believe into those exchanges as decentralized one.

I also personally like decentralized exchanges but I guess the chances of hacking and locking out funds or stealing privatekey of our deposit addy are still possible with currently available decentralized exchanges too.

[H1N1]

Centralized exchange is better in speed because the transaction is live on the central database.
But usually you will need to submit KYC when you want to withdraw a quite amount of coins.
In centralized exchange, you will be able to trading your coins for other coins e.g EOS/BTC, while the decentralized exchange cannot.