Centralized exchanges vs Decentralized exchanges

[kannikaamudee]

of course centralized exchange, for me it is more secure 

[1715372162]

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[Lizzylove1]

Although I have been a long lover of centralized exchange and an advocate of listing on centralized exchange. After some exit scam of some centralized exchanges and their shady activities coupled with some expensive withdrawal fees, which serves their selfish purpose. After trading on some Dex, I now hate centralized exchange with passion. Dex must be made to attract liquidity which is a major bottle neck to DEX.

[Pffrt]

DEX will always the most preferred exchange but that requires huge works to be done as well. In a centralized exchange, I can easily deposit the und, trade, and withdraw but in DEX, I need to log in with my keys which is sometimes not much secured, you know once key is gone to another hand, they can easily steal your balance.

Wrong, centralized exchange site still become the most preffered exchange site. Dex is not so safe when you are logging with your privatekey. Cex and Dex have its own weakness. No need to mention but Cex still a winner from the popularity.

Both have pros and cons, that's what I have mentioned but if you ask me to choose one, I would go with DEX because CEX controls your fund, if the exchange gets hacked, we will not get the chance to recover it. There's thousands of BTC have been lost by users due to the exchange hack.

[weidex]

Decentralized exchanges, of course. It is all about security nowadays cuz there many frauds on the centralized exchanges. On the other hand, people are responsible for their own digital assets and there are no third-parties.

Try using weiDex - https://app.weidex.market. We just made an update which includes a lot of new features and upgrades like smart contracts, Kyber Network integration for liquidity, UI updates, etc. There are also tutorials of how to use the decentralized exchange which can also help you to use almost every other DEX.

weiDex advantages over centralized exchanges:                                                                                  

 - User has full control of their assets
 - Blockchain level security
 - No user information or details required
 - Fully transparent
 - No withdraw/deposit
 - No new user sign up restrictions
 - Referral system(Makers receive 50% of the Takers fees for providing liquidity) and also another 20% from an invited friend fee

[Yudhisthir]

People love the concept of decentralized exchange but these decentralized exchange has not been advance enough to fulfill the needs of regular traders. Binance dex is a start, BNB as a gas. Low fees but again BNB too is a speculative coin. Dex should use a stable coin as a gas and calculate the fees according to the volume.

[icekohl]

In the future if DEXs can improve liquidity, processing speed and, most importantly, cross-chain trading capabilities, I think it will capture CEX's market share. That's true for the nature of the blockchain when we own our PK.

[GREENch]

I think that with the start of the IDO (D-Decentralized), decentralized exchanges will take away part of the total trading volume from centralized exchanges.

[Sanchoni25]

of course centralized exchange, for me it is more secure 

You mean it's more comfortable for you lol

DEX's are the future no doubt about that and there are already some very smooth ones like WAVES DEX. Security is what matters most and a centralized exchange will never be able to compete with a real DEX..

[CoinsOrDie]

  Centralized exchanges are trading platforms that function like traditional brokerage or stock markets,
transactions are being controlled by the owners of the exchange. On centralized exchanges users do not have access to their
private keys. They are managed by one central body which makes them vulnerable to hacker attacks.

   Decentralized exchanges DEX is trading platform that operates without central authority. They are
utilizing blockchain technology. Decentralized cryptocurrency exchanges have been designed in order to protect funds from being
stolen, users have control over their funds.

   -Currently, on the cryptocurrency market, about 99% of transactions are being handled on centralized exchanges.
   -DEX have high level of privacy, transactions are anonymous.
   -Centralized exchanges have higher liquidity and higher trade volume compared with DEX.
   -Centralized exchanges allow users to exchange fiat for crypto-currency and vice versa. DEX only accepts payments
in crypto-currencies.
  

I might really prefer Dex exchanges because it offers security and since I have already mastered the user interface and can virtually navigate all DEX. But the problem of liquidity is one of the major challenges of decentralized exchanges for me.

[Pffrt]

of course centralized exchange, for me it is more secure 

You mean it's more comfortable for you lol

Lol, people always mess up here. Centralized are comfortable in term of using but not secure at all because centralized exchange may be hacked any time, your account may be hold for normal issue and etc. while in DEX tho  chances of those problems will not arise.

[maydna]

Centralized and decentralized exchanges have advantages and disadvantages, and we have a different opinion when we choose exchanges. Some people will choose a centralized exchange because they can have many options for coins to trade, especially for the big and old coins. Besides that, in the centralized exchanges, we can try to trade with bitcoin, ethereum, usd, usdt as for the pair while in the decentralized exchange, we don't have many options to trade. We can trade for the tokens that are based on the ethereum network so I think we cannot make a bigger profit in the decentralized exchange.

[beerlover]

I still believe in centralized exchanges clearly over decentralized ones. What people are forgetting that when we moved from fiat to crypto and supported the decentralized ways of bitcoin over the centralized FED run fiat it was because bitcoin was actually a better product than dollar, right now exchanges are not providing that, if binance is still clearly better than any DEX out there then why would I want to use those exchanges?

If dollar was more secure and more trustworthy than bitcoin then I would use dollar as well, its not because bitcoin was created as a better version. Create a decentralized exchange with huge volume where there is no control over it by anyone ever and then I would be willing to use it over any centralized exchange, until then I am going to keep using binance.

[chipzeru]

I personally love DEX but for now i still prefer CEX because it's more comfortable to use and has much bigger volume. But I really hope that DEX will have huge volume and nicer ui in the future since it's safer than CEX.

[Nezerlan]

We need more of decentralized exchanges. Centralized exchanges are too much and the annoying thing is that most of them are pros when it comes to manipulating the volume of trade coins

[chriseasan]

I prefer to use decentralised exchanges, because I like the fact that I am not giving away control over my funds. Decentralised exchanges are also less likely to be hacked, but a solid disadvantage is that the amount of coins is much smaller than on centralised exchanges.

[sulis sudibyo]

I prefer a decentralized exchange, but currently there is no decentralized exchange in the top 10 major exchanges. so for now I'm using a centralized exchange. if Binance DEX is successful I will definitely use it.

[Impaler]

I always chose decentralised exchange above centralised one. I like the concept of taking care of my own asset. And in recent news we already saw many hacks in centralised exchange. I can't take that risk on my asset. That's why I always prefer decentralised exchange first. But decentralised exchange has their own problems like no volume in most of the tokens. And that's the biggest problem for me. That's why sometimes inhave to use some centralised exchange instead of decentralised one.

[@prashant]

Majority crypto traders use centralized exchange due to it speed and functionality , it is difficult to achieve corresponding result with decentralised one but there are few decentralised exchange whose trade speed is relative to centralized one but lack in fiat gateway functionality.

[Lan75]

I am for decentralized exchange since i am for anonymous but i hope also in the future that decentralized exchange would dominate the market since my observation today there are only a few of them. Fast and anonymous are the two characteristics of decentralized exchange i like the most.

[fvb]

I personally like to trade on decentralized exchanges.  Such as IDEX and Binance Dex.  The fact that there is no need to be checked and submit documents suits all users.  It is good, for example, that at ForkDelta you can find and invest in tokens of projects that are not being traded anywhere.  You can buy tokens at a low price and subsequently get a good profit.  There are also centralized exchanges with a good reputation, the main thing is the exchange team.  If the founders of the platform are forward-thinking people and really value their reputation, then it doesn’t matter what the exchange is, the main thing is not the fraudsters.