What are the benefits of a decentralized exchange?

[BitcoinTurk]

Using decentralized services of course has many advantages, but in my opinion there are two very important factors. One of these factors is security and the other is to remain anonymous. It is not possible to create an account in decentralized services, so user security is at the highest level. There is also a case that decentralized services do not require users to provide ID or passport approval because they are not connected to any center and cannot follow up on an account basis.

[bitc0000]

Decentralized exchanges till date offers one of the best security, which comprises of both funds and personal informations. By trading through wallet gives users the power to still manage their assets. Also, there is no restrictions as it is opened to all and sundry. Another benefit is that, the charges are not too much when compared to centralized exchanges.

[silverleafy]

1. you are the owner of private keys, that means you still own your cryptocurrencies even you are trading them
2. no KYC
3. no deposits and withdrawal approvals
4. more cryptocurrencies are listed on DEXs because it is cheaper for ICOs to get listed on DEXs.

[sukoyomi]

Decentralised exchanges are providing a much higher security level, because even if you trade on such exchanges, you always have a full control of your funds. Decentralised exchanges cannot be hacked as well, so it is a huge benefit for traders.

You're right, It's rare to hear that Decentralized exchange got hacked, which often hears only events caused by human errors, such as accidentally hit a phishing website. The only lack is small trading volume in there. Security is determined by the user himself.

[MikeyVeez]

Decentralized exchange is the future. Imagine that regulators come with strict rules and you will have a real problem to buy cryptocurrency on centralized and regulated exchange, where will you go? 

[Ucy]

There are quite a number of decentralized exchanges with a lot of tokens and cryptocurrencies. I think they are mostly ethereum-based decentralized exchanges.

One of its most important benefits is that you can trade  cryptocurrencies on platforms that have no central control.

[muhhentuhhen]

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.

They give us anonymity. The key difference between centralized and decentralized exchanges and this is the reliability and safety of the user's funds. Decentralized exchanges do not yet have the same functionality and convenience as centralized exchanges, but sending funds to a centralized exchange, you must understand that after sending you can no longer return them. With a decentralized exchange, you will escape it.

[ljane]

I have traded on so many exchanges both centralized and decentralized and I have noticed two or three merits or advantages of the decentralized exchanges. I choose decentralized over centralized because,it has lower or lesser charges as compared to centralized and also I think it's more secured using decentralized exchanges than centralized one.

[Mysteryla]

Decentralized exchanges are those that truly carry the picture of blockchain technology, which is bases on anonymity and any other characteristics associated with it.
If you users wants control over his fund, then, he should go for decentralized exchanges.

[Eraldo Coil]

Decentralized exchanges promotes more anonimity and you can take 100% control of your funds. But it has slower transaction that is why centralized exchanges are winning over it.

[Nhor1011]

Mostly tokens and crypto coins are listed in Decentralized exchange even it was not listed yet in centralized exchange Also you can buy tokens there in a cheapest price. You have a full control of your account because you hold your private key. Easy to use.

[radjie]

Decentralized exchanges can facilitate users without having to complete the Kyc first and the security provided must be owned by each user. although some of them said that the decentralization exchange was not safe enough because it was vulnerable to theft of user data but in my opinion the exchange was simpler and more transparent.

[miningguru]

You are the controller of your account, there's no need to depend on others. 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.

unfortunately trading in volume has less volume if we compared it with centralized market.for ethereum platform we have several dex exchanges, but for another platform its still very rate and people still very strange while use it.and now occur binance dex that provide large liquidity and it make many projects migrate to binance chain.

Of course, based on the previous Ethereum based Decentralised platform now Binance will overcome those solutions, now we are in early stages of their DEX platform we might see how far this one will more reputation in the coming days. Slowly now many companies are migrating their blockchain to Binance blockchain.

[lhtot8]

I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.

[Mahanton]

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?

When you do talk about dex then it is peer to peer trading transaction which means no one does hold out of your funds unlike on using typical exchange
where they do held off funds and as a user you do store up your tokens/coins on an exchange wallet which you don't possess the keys and that's the risk actually.

[passwordnow]

I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.

The old dex's for me are still better than Binance DEX. It has been told that their dex isn't really an exact dex as we are thinking. I've considered that although there are some dex that aren't really getting the attention of most but as long as they have high volume, they are good to use and to stay. Binance will still be binance and the brand that it has is the reason why many traders are jumping to their centralized and semi-centralized exchange, the trust has been built.

[Little Mouse]

I don't think Binance DEX will make an evolution for decentralized exchanges. Binance adapts so well with crypto trends over last two years, but this time, I don't believe that their DEX will beat others older decentralized exchanges, which mostly operate on Bitshares network.

Binance is trying to be one of the most powerful giant in crypto space. I believe CZ will bring it at the top, same he did with Binance centralized exchange. He has everything, budget, influence in crypto market.

[djselery]

There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.

[babysweetTiger0401]

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?

What the good things and I like for decentralized exchange is that We are the one who really control our wallets.
It doesn't need any personal documents needed for the exchange. And decentralized don't have any control to any
coins you hold to their platform.

[Thanasis]

There are many benefits of the decentralized exchanges, including their low fees compared to centralized ones, and also you don't have to expose your identity for them or completing a KYC, in short you aren't controlled by anyone when trading in DEX which is a great advantage.

Highly anonymous and seucred form of exchange is decentralized exchanges still you need to be careful while linking your wallet to DEX or storing your private keys because there might be clone sites which saves your data and reaccess them to the original site then you will be found everything stolen.