What are the benefits of a decentralized exchange?

[ByteHub]

As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?

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[rosezionjohn]

Benefits of DEX's:

You hold your private keys and that means you control all your assets on that exchange.
Unlike CEX who are constantly being attacked by hacks, DEX's has better security.

There are a lot of articles that covers this topic and you can search for them on the internet. Here's one of them https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/

[Kasabus]

In addition, if you have a token, you can sell right away without waiting for it to be listed in a centralized exchange.
Also, you can buy cheap coins in decentralized exchange especially in IDEX and forkdelta and you won't be block by an exchange since they don't have KYC requirement and they don't have TOS to follow like in centralized exchanges.

[axel2078]

Decentralized Exchanges follows the idea of blockchain, that is to say, in decentralized exchanges, users are still in charge of their wallet as all trades occurs within their wallet. Because of this, hacking a decentralized exchange has proven to be hard, as you will need the users keys to perform such which isn't possible. So in all, Decentralized exchanges offers high security, transparency and trust. Also, there is no need for KYC..

[Airelves09]

I think decentralized exchanges have the following advantages:
1. No KYC restrictions, no regulation, anyone can trade on a decentralized exchange.
2. Financial security is guaranteed. Keep your own key. No one can access your own wallet. Deposits and withdrawals at any time

[Stanlo]

Having full control over your coins using your own Private keys that's why I like decentralized exchanges so its free of security issues plaguing centralized exchanges and no more forcing of KYC on users

[tiedcoin]

Decentralized servers:
Decentralized exchanges are hosted on decentralized servers. It means all the servers are not located within a single location and are often spread out globally. Some servers can be truly decentralized by just existing on the cloud. This makes decentralized exchanges nearly impossible to hack, hence making the users’ funds more secure.   

Not restricted by law:
As decentralized servers are not retracted to one physical location, these exchanges are much harder to regulate or even shut down.

Coin responsibility:
While centralized exchanges store all the funds on their exchanges, making them vulnerable to hacks, decentralized exchanges leave the ownership of cryptocurrency in the hands of users and act as a place for peer-to-peer trading.

More privacy:
Centralized exchanges need to confirm users’ identities via the various form of official government ID. But most decentralized exchanges allow anyone to create an account under any name with very little or no approval process. Also, all the transactions on decentralized exchanges are anonymous.         

[bartolo]

If you want to know the advantages of decentralized exchanges, just take a look at the news about centralized exchanges being hacked from time to time and look what happens with their customers and their funds inside those exchanges. And this is not the only danger, a centralized exchange can shut down or just disappear with their customer's funds.

[Andrey13101991]

The most important benefit of a decentralized exchange is security. exchanges are made in such a way that it is impossible to hack the exchange

[Emmy92]

As the name goes, Decentralized Exchange (DEX), that means they are completely decentralized which can be seen in the area of users trading directly from their wallets. Also, the absence of KYC removes all restrictions while making all trading anonymous and private which is also one of the characteristics of decentralization. All these ensures security of both users identity and funds.

[caffu chino]

As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?

the decentralization exchange does not require KYC, the rest there is no difference. if not, which one is better, DEX is better because we are fully Anonymous. but currently there is no reliable DEX. as long as there is no DEX that has a large trading volume, people will still use CEX.

[Peanyut991]

The decentralized exchange is fully managed by the members themselves, while the exchange is centrally managed by the admin. I think that is a clear difference between the two.

[Zemomtum]

With decentralized exchange, there is no particular person in focus, you hold your private key, get coin at the cheapest price, NO KYC, you remain absolutely anonymous. DEX will be the feature of digital currency.

[Sri rahayu]

Having full control over your coins using your own Private keys that's why I like decentralized exchanges so its free of security issues plaguing centralized exchanges and no more forcing of KYC on users

Various benefits have been explained by members here. Yes and only reminds you not to enter your private key on a fake site, because if you do, your assets will be depleted. Be careful, buddy

[masterrex]

Im using both centralized and decentralized exchange for trading. Base of my personal experience when using DEX i was able to import my existing wallet specially Ethereum wallet via private key or other security keys. so directly im in controlled of my funds with less transaction and withdrawal fees, compare to centralized exchange. but just be careful not all DEX are proven safe some are just created by scam artist so be vigilant at all times.

[CryptoAlphaStar]

The widespread argument for decentralized exchanges is that you interact with them, without revealing the credentials of your wallet. You don't send them your coins. They basically provide the software for the trades to be executed.
Decentralized exchanges also don't require you to reveal your identity.

[bitstalker]

I wasn't using dex for a long time, but in my opinion the biggest benefit is as a foothold for several project tokens that haven't been able to open a transaction on the cex market, so at first they will put it into dex first and over time they will try to make a cex market for unauthorized buying and selling means without having to wait forcex market

[Little Mouse]

You are the controller of your account, there's no need to depend on other. The process is instant as well, you don't have to wait for someone to manually complete your withdraw.
Besides this advantage, you must have in mind that, if something wrong occur. you are not going to have solved it or have support for it.

[Flezy]

Since decentralized exchanges are in agreement with the motive of blockchain, they tend to offer maximum security of users information. It also offers privacy and anonymity; that is to say users can trade without revealing any Information about them. Also unlike in most centralized exchanges where the administrators can manipulate trade, it is not the same with decentralized exchanges.

[FanEagle]

As the number of crypto tokens increases, so does the need to convert and redeem crypto tokens. About centralized exchange we have knowed a lot, and can anybody tell me something about decentralized exchange? and What are the benefits of a decentralized exchange?

I think the good part is to have more security and less need for trust, the regular exchanges get hacked all the time and their hot wallet getting emptied or the api gets hacked so there are fake pump and dumps to make money with other peoples money as well so in the end there is really no trust in any of the big exchanges, even binance got hacked couple of times both to get their hot wallet emptied (they recovered from it) but also get the apis hacked so one coin would increase like 700% and make money for the hackers (nobody recovered from that).

So, when you have a decentralized exchange those type of things can't happen since there is no central deal that can be hacked, they would have to hack each and every single individual account to make a difference and that is way harder than just hacking one exchange.