When we enter the world of decentralized platforms, be it Steemit, Blurt, Appics, Hive (To name just a few), it is vitally important to know how to get, collect or transform our rewards in Cryptocurrencies into money from our country's currency. For that, there is a way or vehicle, so to speak, that represents that exchange, whether centralized or decentralized, that helps us to carry out online transactions that allow us to exchange cryptocurrencies to buy or sell them, and that is precisely the topic that I am going to touch on. today.

• Discuss briefly Centralized exchanges and their Benefits to crypto users.

In 2009, the first exchange of Bitcoin for Fiat money was resumed, since many Exchanges have appeared there, which have similar characteristics, whether they are used to buy, sell, exchange cryptocurrencies, but not all of them do it in the same way.

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Many times the fact of working in decentralized Blockchains and having to make exchanges in centralized houses makes us noisy, but just as banks operate, these exchange houses also make use of third parties to manage their assets, both buyers and sellers put their trust absolute in said intermediaries.

There are currently more than 500 Exchanges, which tells us about the constant growth of cryptocurrencies in the world. These centralized exchanges make use of various security systems such as KYC verification, verification by email, by phone number, which makes us trust and have more security when putting our assets in their hands.

Some of its benefits are the following:

• Lots of liquidity.
• Cryptocurrency exchanges for fiat money.
• Great ease when exchanging assets.
• They offer an advanced security system.
• Payment of percentages of profits for maintaining the assets in the exchanges.

Like everything there are factors that become disadvantages, in this case the centralized exchanges are at greater risk of hacking, users do not have privacy, in some cases the transaction fees turn out to be somewhat high and the most outstanding and that generates concern in the users is that because our assets or cryptocurrencies are centralized they are controlled by third parties in whom we must fully trust.

• What do you look out for when choosing an exchange to trade your crypto assest?

In this case we have to take into account many factors that will make us trust them more, either:

• The security system.

• The time in the market.

• Low commissions at the time of the exchange.

• Variety of cryptocurrencies and tokens.

• The liquidity.

• Whether or not there are mobile applications.

• If it is available for the country in which one resides, ease in removal.

• Review your favorite centralized exchange and explain its unique features.

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In 2017, one of the largest and most powerful Exchanges called Binance with the highest volume and the largest number of users in the world was released. Its CEO and founder named Changpeng Zhao developed this Exchange since his great career on Wall Street led him to develop it and that in just minutes since its launch it managed to raise 15 million dollars.

It currently has a market capitalization of $17,539,217,522 according to coinmarketcap at the time of this task.

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This excellent Exchange has 3 types of accounts when registering, this will depend on the operations we want to carry out:

1.). Basic: This allows unlimited deposit and withdrawal of cryptocurrencies.

2.). Intermediate: first we must pass the security system called KYC, which is basically to verify our identity, which through the use of an identity document and facial recognition, which guarantees the credibility of our identity.

3.). Advanced: it is basically the same step as the intermediate one through identity verification and is based on giving evidence through a receipt or invoice to verify our identity and address.

I consider it one of my favorites because:

• Very good liquidity.
• Good capacity to process millions of transactions per second.
• Good reputation worldwide.
• Efficient verification process.
• They offer us promotion or contests where we can get good rewards, incentives.
• It has an APP that makes it easy for its users to manage the Exchange from anywhere in the world at no cost.

Well, I'll tell you that I use this Exchange from my cell phone through the App, through which I carry out my transactions, mostly with the currency Steem and TRX.

To start a session, we are presented with the first security system since we receive a code that comes to us by SMS.

_screenshot

I confess that handling BINANCE gives me a bit of terror because if we do a wrong procedure we lose our funds, although its interface is very simple and user-friendly.

At the beginning we can find different options such as our portfolios (Spot and Funds), the options of the different markets, the button to trade and some help links.

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Now I want to briefly explain some options, such as "Market", where it shows us its main cryptocurrencies and their value. The Trade option, as you can see in the screenshot I show you the STEEM/BTC pair, where we can buy and sell our currency.

Mercado (1)	Trade (2)

Image 3 is of my wallet showing my funds, which if you look at I currently have $2.59.

_{Wallet (3)}

• Is there anything about your favorite exchange you will like to be changed? Discuss.

To date, nothing bad has happened to me with the Exchange, but I have read a lot that the platform crashes and that if the user was making a transaction, the funds can be blocked and then it is difficult to solve the problem through the technical support of the platform.

It would also be convenient to increase the speed with which orders reach the market.

• What shortcomings do you see on centralized exchanges and how do you think user funds can be protected since we don’t have access to our wallet private keys?

One of the biggest problems that these exchanges present is precisely that they are managed by third parties and intermediaries and, obviously, we users do not own the private keys, which makes them vulnerable to hackers and scams that are always present in these kinds of exchanges. operating systems.

And something that is very serious is the risk that exists in losing our funds, since we are blindly placing trust in third parties for our work.

It is up to you to decide which exchange to use in your day to day life and see which one offers you security, trust and which one is friendlier for your country and for your life.

I cordially invite a @maylinch @yancar @rafaelcmontero