Centralized exchanges have become the banks of the cryptocurrency world

[Google+]

To me, I think Centralized exchanges are more user-friendly than DEXes due to which people don't like to visit their websites while they can do all the trading on a CEX app like Binance, Kucoin, Hotbit, etc. and that's the only reason why DEXes don't have much volume. Most of the DEXes I've seen are mostly based on Eth smart contracts, but I believe that Eth itself is Centralized so how can those DEXes be called as decentralized ones?

but if you keep all your assets for too long at the exchange place it will pose a very high threat to you because the place of exchange can inadvertently collapse and there will be many assets that cannot be liquidated and held at the exchange place, there have been many cases it happens like that, so I think you should be able to be careful when storing assets in an exchange place.

[Naida_BR]

In my opinion, centralized exchanges are needed in order to tackle scams and malicious behaviors from members of the community.
Centralized exchanges offer an umbrella of safety to their users from scams. Unfortunately, they are prone to security breaches but big exchanges have the ability to refund their users if something like that happens.

[Driggers95]

To me, I think Centralized exchanges are more user-friendly than DEXes due to which people don't like to visit their websites while they can do all the trading on a CEX app like Binance, Kucoin, Hotbit, etc. and that's the only reason why DEXes don't have much volume. Most of the DEXes I've seen are mostly based on Eth smart contracts, but I believe that Eth itself is Centralized so how can those DEXes be called as decentralized ones?

but if you keep all your assets for too long at the exchange place it will pose a very high threat to you because the place of exchange can inadvertently collapse and there will be many assets that cannot be liquidated and held at the exchange place, there have been many cases it happens like that, so I think you should be able to be careful when storing assets in an exchange place.

No need to talk about the crash, we just need to talk about the case where these centralized exchanges were attacked by hackers then stealing assets from their wallets, this scenario is enough for us to see the risk of storing and turning these exchanges into banks. The crypto world doesn't need an exchange to become a bank, they just need these exchanges to work properly and be accountable, the assets that investors own will be stored in their own wallets at crypto wallet websites trustworthy or hardware wallet

[barbara44]

And how do you create a community and make them all to start making use of decentralized exchange? If you can’t do that here by convincing people to start making use of decentralized exchange, how do you think you can go to the extent of creating a whole community that uses just decentralized exchanges? That doesn’t make any sense.

People are using what they think is right for them, so you shouldn’t be complaining. Just keep making use of what you feel is right for you. That you like decentralized exchanges doesn’t mean that others too are going to like it. And yes , centralized exchanges are ruling now, maybe a time will come when decentralized exchanges might become better and a lot of people will switch to it.

[pixie85]

It's semi-decentralized because of fiat exchanges. At this time you're unable to do anything without a middleman in the form of an exchange. Note that payment processors are also exchanges, just more automated.
You buy Bitcoin with fiat to enter the crypto sphere and fiat is centralized and traceable. Then you put it on a centralized exchange where usually you have to get approved and share all your private data. Then you still cannot spend Bitcoin without a payment processor or an exchange  unless you agree with someone that they will take Bitcoins directly from you.

That's not true, exchanges and payment processors aren't part of Bitcoin's protocol, and it's possible to use Bitcoin without them. You can do direct p2p trades to trade fiat and you can look for places that allow you to spend Bitcoin directly. I get what you are saying, but it's ambiguous to say that Bitcoin is semi-decentralized, and less knowledgeable people can see a wrong picture from it. Fundamentally Bitcoin is as decentralized as it has always been.

Come on, P2P? Have you seen the volume on those sites? Probably not even 1% of crypto users go to these sites.
Saying that trading Bitcoin without ever using a centralized exchange is possible is just like saying that you can ditch your car and walk 10 km to work every day. Sure it's possible but nobody is going to do it in such situation just like nobody is going to run a crypto business without ever selling for fiat.

We are using fiat that's a fact and all the pumps and headlines are there because people are trading and creating volume.

[romero121]

Centralized exchanges gives the outlook same as Bank through the services that's been offered. However without the traditional banks support it isn't possible to use Centralized Exchanges as the banks of the cryptocurrency world. Here the need of banks can be eliminated when the end users are ready to deal only with cryptocurrencies. To have this in reality we need to wait long, because the usage of cryptocurrencies and the acceptance level at present is very low in number compared to the traditional systems followed.

[matchi2011]

To me, I think Centralized exchanges are more user-friendly than DEXes due to which people don't like to visit their websites while they can do all the trading on a CEX app like Binance, Kucoin, Hotbit, etc. and that's the only reason why DEXes don't have much volume. Most of the DEXes I've seen are mostly based on Eth smart contracts, but I believe that Eth itself is Centralized so how can those DEXes be called as decentralized ones?

but if you keep all your assets for too long at the exchange place it will pose a very high threat to you because the place of exchange can inadvertently collapse and there will be many assets that cannot be liquidated and held at the exchange place, there have been many cases it happens like that, so I think you should be able to be careful when storing assets in an exchange place.

It's not  safe to store your assets to any CEX exchange as chances that it will be hack and rob still possible. Even those known exchange experience
hacking but more people still use CEX than DEX due to it's friendly interface, it's more easy to understand and use the platform and the volume also
is considered.

[deisik]

It's semi-decentralized because of fiat exchanges. At this time you're unable to do anything without a middleman in the form of an exchange. Note that payment processors are also exchanges, just more automated.
You buy Bitcoin with fiat to enter the crypto sphere and fiat is centralized and traceable. Then you put it on a centralized exchange where usually you have to get approved and share all your private data. Then you still cannot spend Bitcoin without a payment processor or an exchange  unless you agree with someone that they will take Bitcoins directly from you.

That's not true, exchanges and payment processors aren't part of Bitcoin's protocol, and it's possible to use Bitcoin without them. You can do direct p2p trades to trade fiat and you can look for places that allow you to spend Bitcoin directly. I get what you are saying, but it's ambiguous to say that Bitcoin is semi-decentralized, and less knowledgeable people can see a wrong picture from it. Fundamentally Bitcoin is as decentralized as it has always been.

Come on, P2P? Have you seen the volume on those sites? Probably not even 1% of crypto users go to these sites

No one knows that volume

This is the whole thing with the P2P markets. We don't and most importantly can't know how much Bitcoin is being bought and sold there. Apart from this, even if only 1% of all crypto users are trading via P2P marketplaces, that doesn't in the least mean it is only 1% of all bitcoins being traded. The entire point of using P2P is to sell huge amounts of coins in a safe way but without drawing too much attention to your operations as it inevitably and inexorably happens when you sell or buy using regular exchanges