A Centralized or Decentralized Exchange-alternative to localbitcoins.com payment

[anshui]

I think it is better if you raise poll here so that you will know what does people are prefer because it is depends on the people and not what is the advantage of the other to another one.

Appreciate the idea, though this thread is specifically meant for people's opinion about usability of DEX, CEX and P2P , and we as users, how can we educate and inform each other about the little knowledge we have about exchanges. Also to transfer knowledge to each other so as to realize that how we can grow as a community .

[Lawrenzoo]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

One thing i need to clarify from my mind is if it is impossible for DEX exchanges to be hacked.

[PuertoLibre]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

One thing i need to clarify from my mind is if it is impossible for DEX exchanges to be hacked.

It is not impossible to hack anything that existst on online platforms, it only becomes impossible when it is offline. That's why people don't throw away their old phones, notebooks and they prefer to hold it for storing valuable keys. DEXs are not the hack-proof and biggest weakness of it is scam without any reconcile 

[sheenshane]

Centralized and Decentralized exchanges had pros and cons, decentralized lack of liquidity and the majority of them are a low volume of traders while decentralized you can ask the support team anytime when had trouble or issues.
Ain't know much about decentralized how it works but centralized exchange for is still the best. Both exchanges are a risk to have transactions or let say storing your coins by not having full control. I may advise people not to store a big amount on the exchanges to have more secure on your coins.

[lovesybitz]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

Perhaps both are useful, but in reality majority that are more popular was centralized exchange platform.
If you are going to see and check the top 10 exchange almost all of it are being categorized as centralized based system.
Though, I seldom used decentralized exchange which is IDEX only.

[rosezionjohn]

In my opinion a decentralized exchange like coinbaazar

You mentioning coinbaazar and wearing its signature obviously makes your opinion biased. As someone already said, you can simply create an ANN where you can just enumerate important details like unique features and advantages of your DEX.

[shoreno]

Centralized and Decentralized exchanges had pros and cons, decentralized lack of liquidity and the majority of them are a low volume of traders while decentralized you can ask the support team anytime when had trouble or issues. Ain't know much about decentralized how it works but centralized exchange for is still the best.

Yes dex exchanges have low volumes  but whats good with them is that dex exchanges mainly foccus on altcoins and erc20 coins  . this the reason why airdop and bounty hunters love dex exchanges such ad ed/fd because they are the ones that list their coins  . when it comes to support and other service i think centralized exchange are more better  .

Both exchanges are a risk to have transactions or let say storing your coins by not having full control. I may advise people not to store a big amount on the exchanges to have more secure on your coins.

Dex exchange are more safer than centralized ones because in dex exchange you are in control of your account  in which you will only be using your private keys to log in  .

[bonker]

People don't consider about the economical situation they need only the profit for his investment if it was happening then they can carry to the way so I don't think nothing will decide the changes in this economy.

[klaaas]

It is not impossible to hack anything that existst on online platforms

A truly p2p network dont got a backend to hack only users.

Sooner or later we are all swapping coins decentralized from our wallet but right now it all have to mature and progress over time.

[BitHodler]

Sooner or later we are all swapping coins decentralized from our wallet but right now it all have to mature and progress over time.

I doubt we'll get to a point where everyone is using a decentralized exchange, because there just isn't a way to make every single coin move back and forth as quickly as it does through a centralized exchange.

I hope that I will be proven wrong and decentralized exchanges turn out to provide a similar level of usability and convenience, but if so, it will take more than a decade for sure.

Building decentralized exchanges is something that doesn't yield anything at this point. Who's funding the best developers in the world to work on something like this when the reward is just respect and recognition?

In crypto money speaks, and when there is no way to get back what you put into whatever project, it very likely won't end well.

[Pattart]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

From our experience of seeing exchanges being scams, security systems of exchange sites were hacked like happen to bitfinex and mt gox. Of course we then think that decentralization of exchange is indeed very useful. I know openbazaar and it offers an open and decentralized market, and there are still many other exchanges that are decentralized like local bitcoin and bitsquare, but I think people are more likely to use centralized exchanges now

[redsun114]

... In my opinion a decentralized exchange like coinbaazar , ...

is this an advertisement of your own website here? then why do it as a question.
just start a proper announcement in Services Announcement board and introduce your website and services there and explain to us why you think it is "decentralized" and why should people trust it.

Hahaha, op is trying to shill his project and don't know the best way to do it, in don't think people really focus on decentralized exchanges because they are just so complicated to make use of than centralized exchange, though they might be more secured because the team behind the project don't have access to your private keys and hackers might never have access too. I believe if a user friendly DEX could be built, then we would see a lot of people making use of decentralized exchanges than centralized once.

[GregH37]

I think it is better if you raise poll here so that you will know what does people are prefer because it is depends on the people and not what is the advantage of the other to another one.

Without a poll, it is obviously glaring that many people would prefer DEX exchange if you look at the percentage of usage of CEX to DEX. I guess that we just still prefer to be in that bondage of third party, and that is why majority of people are still not using cryptocurrency for what it was actually established for.

We use crypto for investment and we conclude that we are using it already while many of us are not fully supporting these new projects that have been established to make the rook of cryptocurrency firm.

How many of us has a platform for products and has integrated crypto payment, how many of us as paid attention to the ones that has intergraded it and start paying them with cryptocurrency, meanwhile this is exactly what we need to be doing for the decentralized nature of the system to be fully utilized.

[anshui]

We should ensure that , now  a days there are so many platforms according to one's need , and be it for investing or trading , we should ensure that funds are safe and secure. We as people hardly checks out new platforms and thats where the problem is , we should avoid putting all eggs  in one market.

[TomArayaSlaya]

This is more like an advertisement to me I mean if you are asking about those exchanges why dont you just go straight to the point instead of blowing questions like this and i really think most people dont know about your exchange site very much

[emberbekas]

I use both of them, centralized and decentralized, alternately. Depend on the needs. But I often use centralized exchanges and for security reasons, I usually only deposit my coins when I want to take trading action. The rest, I will save my coins in my personal wallet.

[richminded]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

I prefer an exchanges where I can be more secured whethear its centralized or decentralized, and beside i don’t put much money on that only for my trading funds. Both have their own disadvantage but always choose the top exchanges for less worries because we know they are number one because of a good system and security though hacking can still happen.

[Duzter]

They both have their own advantages and disadvantages, In my opinion a decentralized exchange like coinbaazar , paxful  is better to use when you have to change between various payments methods to bitcoin and back to Fiat. KYC is ideally not mandatory for most payments methods. Can be used for worldwide transactions.

I prefer an exchanges where I can be more secured whethear its centralized or decentralized, and beside i don’t put much money on that only for my trading funds. Both have their own disadvantage but always choose the top exchanges for less worries because we know they are number one because of a good system and security though hacking can still happen.

Always people prefer prefer an exchange where they feel themselves secure. Next thing preferred is the good trading volume, only with that it is possible to make a trade successful consecutively. Right now we've got more than 2000 cryptocurrencies which show the growth, to the continuous increase in the cryptocurrencies there is also need for listing of good potential coins regularly.

[ricardobs]

All it depends on a number of key factors, but centralized exchanges provide the highest volume trading, only for this reason traders still prefer them. As for me, I do not trust the centralized exchanges and do not keep the significant amounts of funds there.

Centralized exchanges are mostly preferred by traders while decentralized have their own significance and advantages. Disadvantages exist on both sides but all we need is to stick to it for a good price movement which may rush on the search engines very soon for Altcoins as well. Bitcoin has already shown its potential this day as it turned to 6677 US dollars with 10% growth reflects fine profit for traders.

[anshui]

Finally we have a good news , market is pumped , lets wish everyone that a patience of almost 1.5 years is over and now people can finally make some money.