Is trading on CEX still worth it?

[Crypto_Potato]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

[YOSHIE]

Do you guys think CEXs are still worth it? Let me hear your thoughts

OP, if you take a quick look at the fraud accusations section, of course you will find a lot of slanted accusations against the CEX exchange, the cases are varied, but if you go in and read some of these accusations, CEX can refute them.
Sample case.
* Topic: CEX.IO SCAM

For that, here the CEX exchange has representatives who are responsible for the CEX exchange in all matters, their representatives: CEX.

I can only show you the information below regarding the CEX exchange, whether it is worth using or not.

We would like to remind once again that CEX.IO is not a scam and we are just facing temporary issues associated with the increased growth to which we appeared to be unprepared.

Conclusion, to be more confident about the CEX exchange, you can communicate directly with @CEX.

[_act_]

@YOSHIE, I think you know OP is not referring to only CEX.io but centralized exchanges generally.

Do you guys think CEXs are still worth it? Let me hear your thoughts

Centralized exchanges are still used more for derivatives trading like perpetual futures and options. Many people are still also using centralized exchanges for spot trading. Some people visit their launchpad and launchpool. They are also using their staking but which can be done on noncustodial wallet. They have coins that you can stake and have APR.

Just use a reputable centralized exchanges. Do not hold your coins there is what that is important to know.

[NeuroticFish]

Do you guys think CEXs are still worth it? Let me hear your thoughts

My experience with DEXs is limited, I've used mostly CEX and OTC, so I may be somewhat wrong, however, imho CEXs are still viable in quite a number of situations:
* Established day traders are using them so I expect better volumes, for example.
* Some (and I think they're many) prefer CEX because they are more newbie-friendly and fool proof.
* If you want for example to sell for fiat, a CEX may have connections with local banks and you have better chances to get your money than from random traders.

I've been using for example Binance when they had their card. It was pretty safe and convenient to sell coins like that.

[Bulltard]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

please show me your jupiter wallet, i'm curious.
jupiter is not a wallet.
nice bitget shill though

[BitMaxz]

I'm trading on Centalized exchange but I do not know why you ask if it's worth trading on Cexs?

Most traders usually look for exchanges with high volume and low fees if you compare it to Dex exchange the fees are higher than Cex the only advantage of buying on Dex most of the new projects can be traded there compared to Cex plus you can get some points and bonuses as you said on Bitget if you keep trading there you can earn points that you can exchange into usdt.

please show me your jupiter wallet, i'm curious.
jupiter is not a wallet.
nice bitget shill though

He might be talking about their decentralized exchange not the wallet.
You can find it in jup.ag.

[Bulltard]

He might be talking about their decentralized exchange not the wallet.
You can find it in jup.ag.

no shit sherlock

[tabas]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

In your case, it's worth it if you're taking advantage of the promos and events that they run. But to be honest, even without those, many of us here are still using centralized exchanges for many reasons. Aside from getting into trading, spot and/or futures. The other promos that they're having like launch pads or pools are getting bought by many of those that are just holding their assets elsewhere. In return of getting some rewards, of course you have to deposit it on them and be part of it. The risk is there by having no control over your assets upon depositing it on them for that potential reward.

[PX-Z]

I do trade, but not regularly, my always routine is deposit-trade-withdraw this take 1-2 days only, and only uses one exchange since binance was banned few months i started using them LMAO.

Do you guys think CEXs are still worth it? Let me hear your thoughts

Yes? As long as you don't use it as an alternative to your wallet.

@YOSHIE, I think you know OP is not referring to only CEX.io but centralized exchanges generally.

I seconded this too, knowing OP used CEXs with an "s".

[Apocollapse]

First of all both Jupiter and Metamask in-built exchanges aren't DEXs, both of them are swaps that need to be connected with centralized server, if the site or server get shutdown, you no longer able to trade in their sites. The truly DEX is only Bisq right now.

If you trade on swaps, it means you're trying to buy newly listed tokens that didn't listed in CEXs, high risk high return.

While coins that listed in big CEXs are quite safer, you no longer think it's worth it because the volatility in newly listed tokens are bigger compared to the popular ones.

[Rikafip]

Do you guys think CEXs are still worth it? Let me hear your thoughts

Depends on the reason you are using it.

For example if you want a crypto debit card as a way to spend your crypto in an easy way, then CEX is not a bad option. I was using Binance for exactly that reason and once their debit card stopped working, I effectively stopped using Binance, and have no intentions of using any other centralized exchange.

[Bournesparks]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

I think Jupiter & Mm are self custodial wallets. But they're a lot of factors users use cex. Most times coins listed on cex are vetter, and if you get rugged & be platform has safu or protection funds you can get reimbursed, there's also benefits of launchpools, launchpads. For the current ongoing deposit rewards ongoing you listed. Is this one of them? deposit rebates Saw it on Reddit.

[Aanuoluwatofunmi]

Do you guys think CEXs are still worth it? Let me hear your thoughts

Considering the recent way the governments have been taking it hard on many of these exchanges, i will say its something risky for us to make use of a centralized exchange to that much extent because governments and the exchange remain unpredictable, we cannot afford to loose any of our asset with them if any uncertainty should pop up today concerning their take on the existence of any exchange, we may also play this mature way by not keeping our entire cryptocurrency assets on centralized exchanges.

[Crypto_Potato]

You're right CEXs do tend to have lower fees and higher trading volumes and I've also gotten a few free bucks too but another problem I have with them is the regulations blocking most exchanges, Binance and many more exchanges are blocked or don't work well in my country and Bitget is one of the currently functioning ones

I'm trading on Centalized exchange but I do not know why you ask if it's worth trading on Cexs?

Most traders usually look for exchanges with high volume and low fees if you compare it to Dex exchange the fees are higher than Cex the only advantage of buying on Dex most of the new projects can be traded there compared to Cex plus you can get some points and bonuses as you said on Bitget if you keep trading there you can earn points that you can exchange into usdt.

please show me your jupiter wallet, i'm curious.
jupiter is not a wallet.
nice bitget shill though

He might be talking about their decentralized exchange not the wallet.
You can find it in jup.ag.

[NeuroticFish]

You're right CEXs do tend to have lower fees and higher trading volumes and I've also gotten a few free bucks too but another problem I have with them is the regulations blocking most exchanges

Exchanges being blocked depends from country to country, yes. About the fees... be aware that although the trading fees are lower, the withdrawal fees tend to be rather high. Make sure you check those too before depositing.

[Crypto Library]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

As a long ago I have used dex for trading like as you with the tokens which are not listed on centralized exchangers but currently, I don't do trade on tokens so mostly for regular using I use cexs like Kucoin and Binance exchangers and I don't have any complaint about them till yet. And if you are a shorterm trader then I will say that CEX  will be best to use for you but for the long-term trader like holding coins never going to suggest CEX. 

[Saint-loup]

If you know some DEX allowing to easily place limit orders, I would be very happy to leave CEX for them. In addition which DEX do you use to sell your cryptos for fiat currencies? CEX will always be used, in the same way are banks still used by any people in industrialized countries. Because they are the easiest and quickest way to change crypto again fiat in a transparent and rather safe way, or to buy cryptos from fiat ofc.

[EarnOnVictor]

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

I am confused about the reason why you buy your coin with self-custody and still have to send it to CEX just because of fees. Won't they charge you for buying through Jupiter or Metamask? Certainly, they will. The gateway companies used and even the credit/debit card companies will charge you more.

This is unless I am missing some points in your statement. I think that it will be fair for you to even use the CEX to send the crypto in and send it to your self-custody wallets for keeping and sending it back if there is a need for it. By then, you might have reduced the amount of money you would have been charged to some extent.

Through P2P, you can get your coin/token without any charges, and if you cannot get it directly through P2P due to the lack of popularity of the coin, you can easily exchange the popular ones you can buy through P2P for the coin/token of choice with a reduced rate. This is what I do though, and it is cool unless you have another reason for doing what you explained other than for the charges considerations.

[Z-tight]

we cannot afford to loose any of our asset with them if any uncertainty should pop up today concerning their take on the existence of any exchange, we may also play this mature way by not keeping our entire cryptocurrency assets on centralized exchanges.

Governments usually do not have problems with centralized exchanges that has the required license to operate, restricts sanctioned countries and complies with their kyc/aml laws. The government even like these centralized exchanges because they are data farms and they can use them to confiscate funds from people they suspect are into illicit activities.

It is obvious that one should not store their coins in a centralized exchange, not your keys, not your coins, and if you trade there, you should move your money into your self custody once you are done.

[hugeblack]

Through P2P, you can get your coin/token without any charges, and if you cannot get it directly through P2P due to the lack of popularity of the coin, you can easily exchange the popular ones you can buy through P2P for the coin/token of choice with a reduced rate. This is what I do though, and it is cool unless you have another reason for doing what you explained other than for the charges considerations.

I used to think that the primary use of P2P is to exchange to cash, as there are auto DEXs that make waiting for the transaction to be completed in cryptocurrencies slow. Also, we are talking about trading, where the trader buys and sells cryptocurrencies for profit, and some types of trading require speed in executing orders and low fees in order to trade. It is profitable, so it is natural that most of the trading is in CEXs.