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RE: Decentralized Exchange Vs Centralized Exchange - Are They Future Of Exchanges ?

in #bitcoin • 6 years ago

This is one of the best blog for those who are new in crypto market and they don't know about best trading exchange option.
I always used to prefer centralized exchanges because centralized exchanges are safe for trading and we can feel free to trade here without any fear like Binance, Poloniex. But there is little bit fear about decentralized exchanges about fund recovery after hacking and all.
Because centralized exchanges gives us more security to our funds for any hacking and all..
Thanks sir for this article newbies will learn a lot about difference between exchanges..

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6 years ago in #bitcoin by
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     6 years ago 

    I have only insecurities about decentralized exchanges that the missing of funds during any hacking.. I think they are not much safe than centralized platforms like Binance and others

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     6 years ago 

    there is a big technical difference. on a centralized exchange, you transfer your coins onto it, they hold them there, then withdraw as you want. that can get hacked. a decentralized exchange is just an interface with an order book. your coins are never transferred there (except IDEX, which is a hybrid). So think of DEX like peer to peer, wallet to wallet trades.

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       6 years ago 

      Yeah, I know and decentralized are platform but users are not much aware about decentralized exchanges.
      It's little bit complicated.
      I have account on decentralized platform.
      Thanks for sharing, I support decentralized exchanges..

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         6 years ago 

        @devkapoor423 when mass adoption will occur you will see everything get better on decentralized exchanges as well

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           6 years ago (edited)

          Yeah, but I read an article that institutional investors are not much interested in Cryptocurrencies.
          So what do you think about that article that was published in many news websited. So institutional investors will take some more time before entry..
          I read that article yesterday..

          And mass adoption only occur only when traditional investors will be here..

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