Hello everyone hope you all are fine and safe. Today i attend the lecture by @yousafharoonkhan sir in which i learn about the centralized and decentralized exchanges and how to use uniswap now i am goin to submit my homework post for this lecture. So let's start.

First i will talk about what are cryptocurrency exchanges. Exchanges are platforms where we trade Cryptocurrencies that means where we buy and sell our crypto. There are lot of exchanges available in market. But few are trusted and most used. On crypto exchange we can also excahge Cryptocurrencies one to other just like we can buy chainlink from bitcoin. Now there are twp types of cryptocurrency exchanges one is centralized and other is decentralized.

what is centralized and decentralized exchanges?

Centralized exchange

Centralized exchanges are those where you have to trust on third party during trade. In centralized exchange user can buy and sell their assets while third party is monitoring the transaction so you have to trust on third party. Trade happens between two under the vision and rules of third party. In centralized user need to do their varification for trading, higher level of vetification gives users more asses and more limit for withdrawal . The best example of centralized exchange is binance which i am using personally. Centralized exchange is more easy to use is best for new traders.

Decentralized exchanges

Decentralized exchanges are those exchanges where trade happens between two parties only here no third party is involved in trade. Funds are stores in blockchain in decentralized exchange. The best example of this is uniswap excahge. In decentralized you didn't have to follow the rules of third party but only obey contract rules between two parties. Decentralized exchange have one most advantage it is safe have less risk of haking but if you lost password you can't able to reset it.

Difference between centralized and decentralized exchanges

There are lot of difference between centralized and decentralized excahge among which are given below brief

Security

Security is vary important for every trader because every trader wants to secure thier assets no one wants to lost his funds. In centralized exchanges there is less security, in centralized exchange there is chance of hacking which is common in cryto world. As we see what happen to easyfi few weeks ago. While decentralized excahge has high level of security so funds are safe , less chances of haking there.

Fees

Fees is the thing which exchanges cut from our trade while trading assets. Centralized exchanges cut lot of fees as compered to decentralized excahge, decentralized exchanges not either no fees so cut vary less fees.

Features

In centralized exchange there are lot of features , while decentralized excahge has less features as compared to centralised excahge.

Regulation

Centralized exchanges are easy to user and every new user can understand it easily. While decentralized excahges are complicated than centralized excahges.

control

centralized excahge has control of third party who runs the excahge while in decentralized excahge has control in your hands.

liquidity

Centralized excahge has more liquidity than decentralized excahges because lot of users provide liquidity to centralized excahge.

Write about two centralized exchanges of 202? Why these are best in front of me?

As i tell there are lot of centralized excahges but personally use binance most and latoken exchange which is new exchange. I start using binance from the start of my trading and i have my almost all funds on that , i recently start using latoken exchange.

Binance

Binance is among most active Cryptocurrency excahge among all rank one among all the excahges. It provides good features to all the users . Binance was launched in 2005 by zhoa. I personally use this excahge because it is easy to use ans has good rating among all excahges and has good security and good team then all excahges. I have done personal as well as adress vetification. I start using this excahge in 2019. I recently trade tlm coin on binance.

Latoken excahge

I recently start using this excahge, on this there are lot of new coins that are not binance yet. Also it provides lot of airdrops among which i receive many. I have done both varification on them also. I didn't trade on that yet but i have some coins on it.

Install matamask and share step by step
screenshots*

• Go to the playstore if you are using android phone.

• search matamask there and click on install tab.

• After install open the app.

• Then click on get started there will be three option one is import account through which you can login your already made account. Other will be of extension through which you can extent your account. The third option is create a new account. So we have to create a new account and click on that.

• Then make a strong password and remember it doesn't loose it.

• Then conform your password.

• you will get 12 digit seed phase through which you can access your account in other device.

• Then confirm this seed phase

• Now you have created your account.

Note: i take these images by my other phone yo understand you better

How to use uniswap excahge?

Uniswap is decentralized excahge and is based on Ethereum blockchain. Uniswap provides automatic transactions through smart contracts. Uniswap is have got popularity due to thier big airdrops. So how to use uniswap , fot that we have to set up any erc-20 wallet like we ser metamask. Also if you want to trade on uniswap it requires some gas fees .

1.First visit the official site which is https://uniswap.org/

2.Then click on use uniswap option and this page will open. Click on connect wallet.

3.Then click on wallet connect and click on metamask option.

4.click on connect option. You have successfully connected you wallet.

5.Then comeback to uniswap site and click on swap option. Write amount and click on swap. Its done

i don't have any money available so it shows insufficient balance but when we put values same as above you will get swap option you have to just click on that.

THANKS FOR READING.

I invite @yousafharoonkhan sir check my homework task.