What do you prefer - Centralized or Decentralized Exchange?

[weidex]

Hello, guys

I've been wondering about what most of the people prefer - centralized or decentralized exchange? Why ?
Do you think DEX is the future mainstream exchange platform?

Leave your opinion below please.   

In the same time check our platform and give a feedback --> https://weidex.market/

[bL4nkcode]

For security purposes, people may choose DEX, but it still depends on how the DEX manage to make its users as for ease of use, as lots of DEX are horrible of of UI and UX. Also the availability of coins to trade and open source to verify its codes.
While the reputation always vary for using centralize exchange, as its lot of risk while storing  your funds there.

[mk4]

Currently, centralized exchanges. Simply due to the reason that centralized exchanges has better overall liquidity, and they tend to work better and smoother(compared to the dexs I've used in the past). But of course I still got my eyes on decentralized exchanges. Though I really don't have that much of a problem with centralized exchanges as I withdraw immediately after every trade anyway.

[BitBustah]

I agree with mjglqw's view.  Decentralized exchanges haven't been able to capture much of the market as of yet.  I have gotten sick of all the exit scams centralized exchanges have been pulling so I am really looking forward for more decentralized exchanges.

[leowonderful]

I mostly use centralized exchanges because most decentralized exchanges are not good enough that I would switch over to them. On paper most decentralized exchanges are solid, but in reality they don’t perform as well as they should. There are also DEXes with simpler UIs out there, but most of them have very low liquidity and don’t have many users compared to centralized exchanges. I’m sure DEXes will gain more of a userbase as more and more exchanges start to request KYC, but for now I’m content with using a centralized exchange.

[dothebeats]

If I have an easy access to a trusted DEX, I would really consider using such platforms due to fast and easy swaps, though liquidity would be an issue since most traders and the big guns are still playing in the field of centralized exchanges. If there'd be a hit DEX, with huge actual volumes and a fluid platform, together with a smooth UI/UX, I'd definitely get my hands on it and trade there regularly. Centralized exchanges would still be the king of exchanges for the next few years if no one would build a promising DEX platform.

[buwaytress]

I probably went through a period in 2017 where I had really high hopes for a DEX to be developed... non-custodial, distributed servers, open-source software, along with cross-chain atomic swaps. That would be some ideal piece of place to be to exchange! And the fact that there were scores of DEXs being developed, plus that some were already useable, gave a lot of hope. I used Waves and Counterparty and thought, wow in a year or two it could get way better!

It's not that I haven't given up on these things. I still believe that maybe even several ecosystems of DEXs, each with their own strengths, could work together. Maybe even on second layers like LN to amalgate. I don't know if that's even possible.

But yeah, for now, what works and what's practical is p2p, and to varying degrees of centralisation... think Localbitcoins on one end and Bisq on the other.

[fudster]

It really doesn't matter whether its  decentralized or not, what matters  is if the exchange has a lot of users on it and tokens are traded with high volume. Right now I don't see any DEX that has good volume.

If your team find out  that Weidex would have this problem before your IEO, would you still do your IEO?

[therhslv]

Actually i use both , but more i use Centralized as they offer VISA / Master card deposits and withdrawals . But when i would like to buy token / coin without KYC approval then i use decentralized one . There is plenty of them , usually i pick the ones the token is listed on .

[Slow death]

I've been wondering about what most of the people prefer - centralized or decentralized exchange?

I do not have a clue what most people prefer, but I prefer to use centralized trading

Why?

because I see who is the owner of the exchange, let's suppose that I was very rich and bought many bitcoins and the bitcoins get stuck in the centralized exchange, but because I know the owner of the exchange it would make it easier for me to go with my lawyer to talk to the owner of the exchange. That makes a big difference. Another point is that in a centralized exchange and very well regulated will offer good services

Do you think DEX is the future mainstream exchange platform?

I do not think DEX is the future mainstream exchange platform

In the same time check our platform and give a feedback --> https://weidex.market

your exchange has a good appearance, and the team members seem to me to be real people, I was able to verify the identity of the CEO, but I must say that you are going to face a market that is already very competitive and that many exchanges are created each year

[BitHodler]

I accept the disadvantages of centralized exchanges for the sake of convenience, and the fact that there is no decentralized exchange that actually offers something similar to what people experience on centralized exchanges.

In order to make me switch to decentralized exchanges, they don't have to perform slightly better, but a whole lot better. To add, I also haven't had a situation where I desperately needed to use a decentralized exchange, ever.

[milewilda]

Hello, guys

I've been wondering about what most of the people prefer - centralized or decentralized exchange? Why ?
Do you think DEX is the future mainstream exchange platform?

Leave your opinion below please.   

In the same time check our platform and give a feedback --> https://weidex.market/

You can actually see on what most people prefer the most when comparing the volume of DEX and Centralized exchangers as of this moment.
Even though Crypto is solely created for Decentralization but when it comes on using up exchangers people do still end up on using those platforms
which are centralized.We have seen some DEX but wont really be that high to match up the volume of those top tier exchangers as of this moment.

[weidex]

For security purposes, people may choose DEX, but it still depends on how the DEX manage to make its users as for ease of use, as lots of DEX are horrible of of UI and UX. Also the availability of coins to trade and open source to verify its codes.
While the reputation always vary for using centralize exchange, as its lot of risk while storing  your funds there.

Storing funds on centralized system is always a concern. Last year more than 1 billion dollars were stolen.
This is just how human nature works - when you have a lot of funds, you get greedy or someone in your company internally could broke the system.

With decentralized and non-custodial systems this is impossible!

[weidex]

It really doesn't matter whether its  decentralized or not, what matters  is if the exchange has a lot of users on it and tokens are traded with high volume. Right now I don't see any DEX that has good volume.

If your team find out  that Weidex would have this problem before your IEO, would you still do your IEO?

We will see what will happen with the IEO...

For us the most important have always been the technology.
We want to build functional multichain exchange and a whole DApp ecosystem, because this is what people need right now - easy, seamless, secure way to interact with the blockchain.

[weidex]

If I have an easy access to a trusted DEX, I would really consider using such platforms due to fast and easy swaps, though liquidity would be an issue since most traders and the big guns are still playing in the field of centralized exchanges. If there'd be a hit DEX, with huge actual volumes and a fluid platform, together with a smooth UI/UX, I'd definitely get my hands on it and trade there regularly. Centralized exchanges would still be the king of exchanges for the next few years if no one would build a promising DEX platform.

I agree with you.
The biggest problems with the DEXes are poor UI/UX, speed and interoperability, but this will be fixed soon

[weidex]

Currently, centralized exchanges. Simply due to the reason that centralized exchanges has better overall liquidity, and they tend to work better and smoother(compared to the dexs I've used in the past). But of course I still got my eyes on decentralized exchanges. Though I really don't have that much of a problem with centralized exchanges as I withdraw immediately after every trade anyway.

When you withdraw every time after trade, you should be paying high taxes. Usually CEXes charge you at every withdraw...
If we have faster, scalable and cross-chain DEXes with good liquidity, then we won't need CEXes any more, I can't wait
During that time you could try https://weidex.market and give us your feedback, it will be highly appreciated.

[buwaytress]

If I have an easy access to a trusted DEX, I would really consider using such platforms due to fast and easy swaps, though liquidity would be an issue since most traders and the big guns are still playing in the field of centralized exchanges. If there'd be a hit DEX, with huge actual volumes and a fluid platform, together with a smooth UI/UX, I'd definitely get my hands on it and trade there regularly. Centralized exchanges would still be the king of exchanges for the next few years if no one would build a promising DEX platform.

I agree with you.
The biggest problems with the DEXes are poor UI/UX, speed and interoperability, but this will be fixed soon

I think volume is the simple and single biggest "problem". I have seen DEXs with far greater UI than CEX... or even speed. Even the Waves lite DEX in 2017 was way better than most CEXs today, for example. I'm on a slightly aging laptop and even Binance on an order page takes a lot longer to load than most DEXs I've used. I'm not even going to talk about the lesser CEXs and the 2-minute page load. But because we all go where the volume is (sure, and price), then we use whichever platform doesn't scam us, doesn't have too shitty customer support, and fills our orders;)

[gentlemand]

Anywhere that has centralised hosting and domain is not a dex as far as I'm concerned. I seem to recall Etherdelta having plenty of problems with hackers hijacking them. I'll wait for exchanges that happen bua atomic swaps and on blockchains themselves before making use of them regularly.

[weidex]

Anywhere that has centralised hosting and domain is not a dex as far as I'm concerned. I seem to recall Etherdelta having plenty of problems with hackers hijacking them. I'll wait for exchanges that happen bua atomic swaps and on blockchains themselves before making use of them regularly.

I agree, but you need good UI/UX in order to have the mass user on your dex.
If that is not needed anyone can use the terminal.

We are building desktop and mobile version, so our users will be able to use the app on their own devices.

The other solution is IPFS, but there you have some limitations.

[magneto]

The concept of a decentralised exchange is obviously good, and it takes away the counter party risk that traders have to deal with every time they deposit funds into an exchange. Especially in this day and age where KYC can be used as a legal reason to hold people's funds.

However, the integration of different coins and trading pairs over different platforms, especially in regards to the integration of fiat currency is still uncertain with decentralised exchanges.

Perhaps a protocol can be developed in the future that allows this to happen, but I think that people currently are still not fully comfortable with all aspects of a decentralised one yet. They instinctively still want support and fear that they won't get that with a decentralised system, and often the spreads on decentralised exchanges are just too high and there is a general lack of liquidity. I'd definitely be willing to use one in the future though, if these problems can be solved.