What is your opinion on Decentralized exchanges?
I have noticed that many cryptocurrency enthusiasts express their dissatisfaction with centralized exchanges and how they contradict the idea of decentralization. Some argue that this is not in line with Satoshi Nakamoto's original vision for cryptocurrency, which was to create a decentralized system that is not controlled by any centralized authority.
Using decentralized exchanges can be challenging, particularly for beginners. This industry needs to attract more investors, simplifying the learning process is crucial, and decentralized exchanges do not fit well with this objective.
The good news is that many centralized exchanges have recognized the importance of decentralized exchanges and have taken the necessary steps to add them to their products, thus preserving Satoshi Nakamoto's initial plan.
Recently, I came across Bitget Swap, a decentralized trading product of Bitget. It is a combination of both centralized and decentralized exchanges, featuring an impressive user interface. It has a cross-chain swap mechanism integrated into the Bitget Wallet, which sources liquidity from a network of around 100 decentralized exchanges across 20 chains.
I find this approach fascinating and would love to know your thoughts on it. You can read more about the Bitget swap here: https://www.bitget.com/support/articles/12560603778414
Well, I think the crypto space is evolving at fast pace such that with Centralized exchanges, we might not need DEXs and private wallet anymore because most top tier CEXes now have all these integrated just like this article says. Thanks for this anyways
I think merging both centralised and decentralised platforms gives users more flexibility, anonymity and protection they needed. Some people have complained of loss of wallet loss to a DEX, I just hope this answers the need. Thanks for sharing.
Nice. It is not a merger but a product of the exchange. I think this is a good one, as it keeps the decentralized nature of cryptocurrency.