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

in bitcoin •  9 months ago

Decentralized Exchange Vs Centralized Exchange - Are They Future Of Exchanges ?.png

Hello Friends,

This blog is all about comparison between decentralized exchanges and centralized exchanges so that you can understand the basic difference between both of them .

So let's Understand first About Centralized Exchange and its pros and Cons

What Is Centralized Exchanges

Centralized exchanges are those where one exchange works as an intermediator which allow us to trade BTC or crypto against fiat currency such as binance , kucoin , bittrex , poliniex and many others .

Pros Of Centralized Exchange :
1- Easy To Use even for amatures and beginners .
2- Advance features available like ( Margin Trading & Stop loss)
3- High Volume So no problelm with liqudity
4- Trades are much faster as high number of transactions per second (Binance has 1.4 Million transactions per second)

Cons Of Centralized Exchange :
1- Exchange acts as intermediator so Trading fees is very high
2- Very high chance of exchange getting hacked and loosing all funds
3- Personal documents required for verification and to start trade (KYC Needed )

Whereas now let's talk about Decentralized Excahnge :

What Is Decentralized Exchange?


An exchange which doesn't require third party or intermediator to hold the investors fund ,here trade occurs between 2 users of the platform which you can even call as P2P (Peer to peer) .
For example if Mark want to buy 5 Bitcoin and Alia want to sell 5 Bitcoin then both will trade amoung themself on platform so there is no need of third party interference in such exchange .
Example of Decentralized exchange are Etherdelta , IDex , switcheo & Nex .

Pros Of Decentralized Exchange :
1- Very Low or nearly no trading fee .
2- Users controls there private keys so no fear of exchange hack and loss of funds .
3- No Kyc Required for verification you can directly start to trade by opening a wallet .

Cons Of Decentralized Exchange :
1- Difficult to use for beginners .
2- Low volume of exchange so liquidation is big problem until full adoption of these exchanges come .
3- For trade need to wait long to match with specific trade value because of low volume .
4- No margin or stop loss available till now .

So for now this is it about both the exchanges but now the main question arrises are the Decentralized exchange Future of crypto exchanges ? Can they replace centralized exchange ?

For me what i feel is Decentralized exchange like switcheo - https://switcheo.exchange/ can be similar like Binance and the early adopters of this exchange and coin can have the max advantage to buy it at lowest price .
Right now if i talk about the coin price is just about $0.0168 and once it is adopted by masses its value can rise just like binance coin as well .

Screen Shot 2018-07-20 at 5.04.33 PM.png

So for me Decentralized exchange can be the future and for me i am in for switcheo coin as well as you never know when we will see this to be mass adopted and hence earn big profits over it as well .

Here Is The Video For My Friends who understand Hindi Language :

Whats your thought about them pls comment down below so i can know what you feel about it ?

Thanks
Sumit kapoor
@moneyguruu

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You can also make your group a bigger group . I am follow your every YouTube video . I am subscriber your YouTube channel because I like your video . I was expecting some better videos about steemit from you . The newcomers will hope to work here watching your video . You must see that new members can benefit from this .

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For me friend i tried to explain every part of steemit till now . Now about 10 % people out of our community who really want to work on steemit will continue to work in here and will for sure find success . @ powerupme .

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I will also follow sumit sir video he have a lot of technical & crypto experience . hats off sir

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me new here .only inspire by summit sir.and i think he is working much better .summit bro there is a big problum for traders in decentralized as very slowtrading.what u think in future is it faster or not? thanks

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sumit bhai aap mining machine liya tha , so I want to know whether it is profitable or not ? if you suggest me i can buy it

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Even i was Into mining but i feel it's quite difficult with Few Rigs only , especially in india but if you can devote time and stick it to it for couple of years and be a part of mining genuinely you can fetch profit on longer run .

Cheers ;)
Ashish

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Pls do check my post of top 3 alt coin which pays passive dividend
https://steemit.com/mgsc/@shoheb.shah/top-3-coins-for-massive-dividend

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do follow back help each other post

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You got a 2.76% upvote from @emperorofnaps courtesy of @powerupme!

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definitely decentrlized exchange will definitely help everyone , because our bitcoin is decentralized hence we need exchange also decentralized, this will remove control of exchange also over unwanted coins and we will have better coins and better projects listed on the exchanges

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@online87700 indeed as blockchain is decentralized as well bitcoin exchanges should be as well .

Hello @moneyguruu - I have seen your video on you tube about the difference between centralized and decentralized exchanges. I am going to buy some switcheo coins before its price gone to the moon. In my opinion early buyers have the more chances of getting profited.
Thank you for sharing and giving information of this unknown coin.

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100% we should as it can be good for future but there is no guarantee over it but still crypto is all about predicting future and investing over it .

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Ripple always Screenshot_20180720-192850.png goes down why.
it don't have future

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I always say Ripple is not coin that i love its just simply coin which pumps occassionaly badly like bitcoin nd you should simply take advantage of those movements !

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Sumit sir,,, i will also be success on steemit please suggest me

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Please check out my work

Hello sumit bhai. My self Hardev Singh Rathore me rajsthan jodhpur se hu aap ko thanks karna chahta hu ki aap ne muje or me kae friends ko crypto currency market me bohat help ki . Aap ka sath rahta he to me kud ko hamesa motivat mahshus karta hu .
Thanks

Hi @moneyguruu, which is the best exchanger between fiat and crypto currency? I tried to buy 50 euro of bitcoin by credit card and Changelly asked me a fee of 12,5 euro, 25% is too much, do you think so?

You got a 66.67% upvote from @th3voter thanks to: moneyguruu!



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2- Users controls there private keys so no fear of exchange hack and loss of funds .

This is not always true. If you hold Open.EOS for example on Bitshares, then OpenLedger has your keys. You are trusting OpenLedger not to get hacked. The rule is if you have your keys, then they are your coins. Go and find them to make absolutely sure because it is not always the case that decentralization = you have your keys.

@moneyguruu you explain everything in a simple way. and the future of decentralized exchange is great.
https://steemit.com/mgsc/@arjung216/friends-with-benifits

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yes looks very great ahead .

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Sir please check out my work and suggest me how will grow ?

@moneyguruu i assured you that you make a good plat form for every one.
no body now feel uncomfortable after join the steemit because if you give a good blog and good article post on steemit they will give you a lot of money like mr @moneyguruu just need a strugle just few struggle not full of the just few struggle and the result you feel and give the reward in the shape of money ...

Thanks @moneyguruu for sharing a good article with us....

Regard:
@azhar1

@moneyguruu
Anewala din Dcentralized Exchange ka hi hai.
What say summit bhai ??

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@sajjadkabir 100% my friend it is ..

Sir I like your voice qualitie, speech power, and your knowledge

Thanks. You have explained the pros and cons of each exchange very well. While decentralized exchanges maybe the future, I prefer centralized exchanges more because I feel more safe knowing that I have put my money to a "trusted" exchnage. I will look more into decentralized exhanges as well. Thanks!

@moneyguruu With My Observation like that Decentralized digital forms of money like Bitcoin and Ethereum have solid favorable circumstances over concentrated budgetary frameworks, basically due to their capacity to work and work without a solitary purpose of disappointment, which programmers and terrible performing artists can target.local banks shut down, neglecting to give monetary administrations to people and organizations

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Hey man great work! Check out my view on this topic:

Centralized Exchanges And Decentralized Exchanges - Comparison and Future Trends

https://steemit.com/bitcoin/@drumsta/centralized-exchanges-and-decentralized-exchanges-comparison-and-future-trends

Takeaway tips from this article is switchio coin

I guess it can grow to huge as you suggested

And we all witnessed of BNB, it grown to 100X and early adapters of BNB made huge profits out of it

Thanks for the article

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@real-info . Exactly my main focus is over switcheo coin over here as it has great potential ahead !

Decentralised and centralised is that in theory like having 2 girlfriends 1 tied up in my attic and 1 free to do as she wants?

@moneyguruu sir decentralized exchangers are having bright future in our crypto market.

Yeah bro you have explained in a very simple and better way
According to me also decentralized exchange is a better option in terms of trading fee and in terms of security
keep steeming
@moneyguruu

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@zayushz 100% for they will be future of exchanges in crypto .

Great video watch it when you published bell is active on your channel sirji.
Today i learn few new things about crypto Decentralized Exchange Vs Centralized Exchange after watching your video. The main thing this Decentralized Exchange Attract me that i will be my own security. I will own my crypto asset in my own way. Thanks sirji for this informative video.

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@cryptotradingbd keep on learning and applying :)

Whoch exchanger is best Decentralized Exchange or Centralized Exchange @moneyguruu

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Idex - etherdelta and switchio are one of best decentralized exchange
and binance is one of best centralized exchange @arjun9

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Binance going decentralised soon?

Decentralised exchange is the future of crypto exchange. Even Vitalik Buterin has told many times about the importance and need of decentralised exchanges.
Binance is working on it and lots of projects are in pipeline for DE.
Upvoted you for this great informative article.👍👍👍👍👍👍

@moneyguruu
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@ashokmandal indeed it is my friend ..

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Yes.....we all agree. Beautifully written article explains in details everything.😊👍👍👍👍
@moneyguruu

@moneyguruu thanks sir for showing difference always Decentralized exchange is best for trading.

@moneyguruu sumit kapoor is best explainer thank you sir..

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@only4you thanks my friend !

Decentralization is great bitcoin is so powerful reason behind is it is decentralized otherwise wales could manage to manipulate lot worse than they are doing now it is the centralized same concept with exchanges all exchanges should be decentralized what do you guys think?

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..

Posted using Partiko Android

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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

Posted using Partiko Android

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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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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..

Posted using Partiko Android

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

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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..

hi @moneyguruu Decentralized exchanges will always be liked by massive community and undoubtedly they the future of Crypto trading platforms.Whoch exchanger is best Decentralized Exchange or Centralized Exchange

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For sure .

Hello Great Steemians, Please I need Your help to upvote and resteem my post about Dealing With Depression Let's help shear awareness on Depression and how to deal with it, Thanks.

A company that I work with as a PR & Blogger Outreach Expert is having a survey now and this is one of the topics. Encrybit is also giving away $500 in BTC and other XRP and Encrybit tokens as prizes randomly for people who take the survey. It doesn't matter to me, trade is trade. I just look for profit in it. Good comparison though.

@moneyguruu Can decentralised exchanges be hacked?

@moneyguruu now a days it really helps to the people but the thing is that how should we work on that?

BUT still i support centralised exchange

@moneyguruu,Good work..
Your all posts its always help me.
And your all YouTube videos always help full for me.

I am a trader too and i would like to go with decentralized as the fees is very low and i hope tht other cons like sl and tp system and low liquidity problems will be improved after sometime.thanks for sharing such a valueable information.you are doing a great job.....
thankyou.jpg

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slow and steady you will see more and more decentralized exchanges coming in !

Hii sir,
You always helped me on youtube,and now you are doing here this work too.
Your post is really good .
Welldone sir keep it upp

Decentralized exchanges will always be liked by massive community and undoubtedly they the future of Crypto trading platforms. We all must understand positive and negative aspects of decentralized trading on such exchanges.

hi @ moneyguruu very nice info.you ar e doing agazing job. i am just following you hope so with in 2 or 3months i also got rewards like you and thx again for wonderfull info

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@cryptolovr i hope you continues to earn in crypto :)

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yes i will do it ..apka support aise raha to jroor hoga

Sir upload a video about dtube I am unable to upload a video on dtube

@moneyguruu As of now most of the top exchanges are centralised. Even Binance is a centralised exchange. May be by next year decentralised exchanges will gain popularity

@moneyguruu thank you, Sir, for informing us it will help us a lot

Sir what your opinion which on is better

Excellent information sir..

keep up the great work money guru

Bhai good information like it.
Big fan of you

superb sir decentralized exchange hack hone ke chance 1% he isiliye future me uski demand aayegi... @moneyguruu

Sumit kapoor is a good explainer .Anyone intrested in philosophy come on my profile.

Sir @moneyguruu please tell us about ember coin what will be the future of atheneum coin after swap of ember coin

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yes sir @moneyguruu please give me some update about this coin

@moneyguruu very help ful post for me ande veryone keep up bro good work

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@sagheer46 thanks my friend .

Is there any decentralized exchange in India that can convert STEEM to INR?

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@itstime till now not so but for sure soon we will see lot more Dex exchanges

Hey friend, maine new account bana liya hai aur ye grow karne laga hai main samajh gaya hu ki steemit pe kaam kaise karna hai

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Please explain us also . Thanks in advance

Even current bankiNg model will change to Decentralize mode.. but in a different way...

Yes the coming time will be decentrlized exchange.

@moneyguruu i like your videos keep making awesome videos best of luck.

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@moneyguruu sir I have a question. decentralised exchange cannot be hacked. then what about the bancor exchange. how it was hacked? after the hacking bancor exchange market get panic and blood bath. please tell us sir @moneyguruu

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Bancor is a decentralised liquidity network. The breach was in relation to some of the funds which were apart of that liquidity network. Bancor is actually not a traditional exchange. Check out this video for more information -

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Thanks for this info

Like your work bro you are just amazing person following you on every plateform since 6 months and earning more
keep it up bro and follow me back and also check out my posts learned from you alot and reached rep 30
and tell me one thing can we earn if we resteemed any body post????

I am your big fan sir

Hello @moneyguruu sir, I am your big #fan and also watch your all videos on #YouTube
everytime you come with a new update in #cryptomarket .
well i love to be your follower...

@moneyguruu: Which was the exchange is best centralised or decentralised what you think?

Again good information thanks sumit.

hello, #Sumit brother can you plz give me some SP plllzzz.. Atleast On rent ...will you ???

In future There would be only decentralised exchanges because you don't need KYC and there is no banks involved in it so there would be no centerlised exchanges in future

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that is what it means by decentralization and our crypto and blockchain is all about decentralization .

This post was resteemed by @steemvote and received a 99.98% Upvote. Send 0.5 SBD or STEEM to @steemvote

@moneyguruu, Thanks for posting this info. Many of us don't know about these exchange.

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@trending 2018 pleasure .

@moneyguruu
I feel that most people who are having a fair to good experience will use decentralized exchanges and new people will use centralized one.
But definitely later or sooner the new people will also think to move on to decentralized one because it is maximally secured.

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Yes later you will see use of more and more of Dex . @santosh.usa

@moneyguruu that is nice information you are sharing.
Yaah the blockchain technology is good. And also that is the future.
Keep update. Also give information about bitcoin price

As bitcoin is a decentralized, then we need decentralized exchange also. By the way, it is a good post from you.

Sir i am your big fan .
Sir can u give me a single upvote it will help me alot please

@moneyguruu , Thanks sir For Give Difference In centralized & decentralized exchange . I am invest in switcheo exchange , when you suggest in past & i hold it. I hope your new post help mgsc family & cryptocurrency lover, thanks again for increase community confidance .

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@vijaysingh i hope you will see great profit from it in coming months .

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@moneyguruu , Thanks Sir For Reply Me , I hope in future i have achive good Reputation By good content.

Good article. In my opinion, although I'm a fan of decentralization, at the moment decentralized exchanges cannot compete with centralized ones. Will see in the future. I am also waiting to see future developments of NeoNexExchange, since this one should be much more efficient...

Really thankfull to you Brother @moneyguruu

Sumit ji I have learned a lots from this post...
just I have decided to study more about Centralized and decentralized Exchange from now... it is really needed for us, because are living a place where everything is changing time to time and we need to adapted with it.....

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people who changes themself with the change around are the people who find success as well . @amusdnom

Done very good comparison with Pros and Cons of Decentralised exchanges.
Decentralised exchanges are the furture.
Thanks for great explanations!!

Keep it up

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nice explanation my bro love your work and love you dil se mere bade bhai : ) @moneyguruu

Nice blog bhai.....

Please feedback my blog I think u will definitely like it......
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Upvote / Comment / Follow...🏵✌🏼👍🏼

@beingindian

Great information
Sir please send me the list of decentralised exchanges?????

@moneyguru very informative blog. now according to me the centralized exchange will be shot down when more and more traders came to know about these decentralized exchanges like switcheo and idex. and sumit bro i request you to make a video on how to buy switcheo coin from this exchange?

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More and more gov regulations and problems so the more chance of these exchanges to be adopted !

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@moneyguruu yeah bro you are right and thanks for making video on how to use switcheo exchange.

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

Superb post! I learned many things from you. And Implemented. Thank you @moneyguruu

This post has received a $17.54 % upvote from @siditech thanks to: @moneyguruu.
Here's a banana! banana-small.png

beautiful

Very interesting read, decentralised exchanges will take over some day, but for now the centralised ones have the market share. I have started following your work, please follow mine.

I Think We Should Vote For Decentralized Exchanges. Because These Can Change The Future Of World
#moneyguruu

thank you sir for explaining everything in a simple way, amazing article.

thanks , to get one more knowledge about crypto currency market. there are so many things to understand in crypto market. when i follow u in u tube and steemt. i can gain more knowledge . again thank u so much. hope that in future we get more education in crypto.

If Technical guruji have a steemit account!!!

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@apon6431 he will reach only on top if he will learn steemit hacks as his community cannot help him for first six months as you increase your repu and build big account only when you get upvoted from reputed people on steemit and if he is able to do that he can make huge in here !

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You are right. Repo does matter in Steemit as well as great content.
It's an open plateform. Anyone can join and earn.👍
@moneyguruu

nice post bro

Great blog sir very nyc information

Can you tell me sir about switcho ?

I already bought it when you told us about this coin in your vedio .i believe in you @moneyguruu

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i hope you will have great profit in future with it .

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I also bought some...

@moneyguruu One more great explanation Sumit. I like the way you present things in a systematically.

Decetralized exchanges are the futures. As we are moving towards decentralized system, why exchanges will keep themselves behind and hence will move towards decentralization. I believe all the centralized exchanges will convert themselves to decentralized ones rather than closing down. People are still unaware about the benefits of decentralized exchanges and hence very low volume over there. But this picture will definitely change and we will see decentralization everywhere.

I believe binance is one step ahead of other exchanges to adopt decentralization. Others are about to jump into it.

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@lets-steemit 100% this picture will soon change as people will start to realize that on Dex they have lot more advantages .

Gd job bro

how can i buy this coin?

Wake up people wake up.
Learn about decentralized and centralized exchanges.
According to beautyful blog by Mr sumit kapoor, I will go for decentralized exchange.
Thank you sumit for this nice blog.

very right sir....