CEX ruins the true value of Bitcoin

[Smack That Ace]

Although we have contrary opinions, for or against. CEXs have contributed to the exponential growth of people who use bitcoin. They have had the opportunity to learn about bitcoin on these platforms and have even created a way of working as a trader, in P2P and other ventures linked to these sites.
I do not disagree with the CEX, on the contrary, I feel safe in their apps, and every day I notice improvements in UX/UI due to user demands.

There is no denying that CEX has contributed a huge part to the growth of bitcoin and the entire market. Most of the people entering the market will most likely have a CEX account, after all trading exchange through CEX is simpler and safer than DEX for newbies.

Currently, there are many reputable centralized exchanges like Binance, I must say that I feel satisfied when using Binance. But I still would like to advise you not to put all your assets on a centralized exchange as they can freeze your assets anytime, you are not fully in control of your keys when stored on CEX. The war between Russia and Ukraine has shown us what they can do with our assets.

[RealMalatesta]

Although we have contrary opinions, for or against. CEXs have contributed to the exponential growth of people who use bitcoin. They have had the opportunity to learn about bitcoin on these platforms and have even created a way of working as a trader, in P2P and other ventures linked to these sites.
I do not disagree with the CEX, on the contrary, I feel safe in their apps, and every day I notice improvements in UX/UI due to user demands.

There is always pros and cons to everything. Centralized exchanges has been helpful indeed and I can say that for sure because I’m also one of those that started in the cryptocurrency market by making use of these exchanges. They are really helpful for the fact that they have a simple interface and are far much easier to use than the decentralized or non-custodial wallets and exchanges. At the same time, we all know that these exchanges are not working the way that bitcoin is meant to be, which is decentralization.

The community is meant to be decentralized and not controlled by anything or anyone.FYI Even if there was no centralized exchanges people would have still been able to learn how to make use of the non-custodial wallets and decentralized exchanges.

[Mehedi72]

CEX was also good but recently governments start throwing tons of rules and regulations on them which is effect can be shown on bitcoin. But CEX is still better than DEX cause they providing facilities of trade, margin, future, stop loss and thus people can best use what they have decided. Will only p2p transactions help to make bitcoin fly? I think without CEX, it would also ruins bitcoin true value.

[Quickset]

CEX was also good but recently governments start throwing tons of rules and regulations on them which is effect can be shown on bitcoin. But CEX is still better than DEX cause they providing facilities of trade, margin, future, stop loss and thus people can best use what they have decided. Will only p2p transactions help to make bitcoin fly? I think without CEX, it would also ruins bitcoin true value.

CEX uses a custodial framework which does not give full control of private keys to the user and leads to giving no sense of ownership.

[royalfestus]

What is interesting, however, is that despite people supporting Bitcoin they are also supporting centralized exchanges and custodial wallets and all things that are essentially against the Bitcoin standard. So perhaps we could ask whether the people really prefer complete independence. For many years, DExes are left behind by CExes in terms of volume. Moreover, despite compulsory KYC hassles and failing a number of times in the process, centralized exchanges are not losing popularity. Is it only because DExes don't support fiat? Or is it simply because CExes are generally better? Or perhaps people aren't really interested get out of fiat altogether?

People want to use DExes but the decentralized exchanges lack a lot of feature which centralized exchanges offer. If you use uniswap, you will have to pay too much fee  while people can trade the same tokens on centralized exchanges with minimal fee. Pancakeswap has no issue of high fee but often there are liquidity problems. Above all, none of the decentralized exchanges offer stop limit and future trading , margin trading etc. Unless these decentralized exchanges offer all benefits, i don't see people shifting from the centralized exchanges.

Both Uniswap and Pancakeswap do not trade bitcoin and bitcoin is the tartget here, maybe we should start looking at bitcoin DEXes. Other option will be wrapped bitcoin or rBTC but invariable the neglect on bitcoin could affect it on the long if many people adopt it. We cant rule out coinbase involvement in this exploitation to control transfer of fund across close countries.