Hello Everyone,

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Homework

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Question no 1.

Write the definition of Decentralized and Centralized Exchange in your own words.(definition should cover exchanges ,not system) only explain in your own words, after understand the exchanges.

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Decentralized Exchange

• Decentralized exchange are exchange that give their user opportunity to apply there full will without the permission or intervention of the third party. All the account control remains with the user. It gives room for traders to trade anytime or anyday. They give there customer complete freedom of business.

Centralized Exchange

• Centralized Exchange is like the opposite of decentralized exchange. It doesn't give user the opportunity to trade according to there will without the permission or intervention of the third party. Centralized exchange play the role of third party between the seller and the buyer and also have rules and regulations which must be followed by users.

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Question no 2.

Explain in your own words the difference between decentralization and centralization exchanges (answer should related exchanges ,not over all system.. (answer must be written in oun words, copy paste or from other source copy will be not accepted)

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Different between Centralized Exchange and Decentralized Exchange.

Centralized Exchange	Decentralized Exchange
Centralized exchange have restrictions for users during maintenance i.e trading can not take place during this time.	Decentralized Exchange does not have issue of maintenance.
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The trading volume of cryptocurrency on Centralized exchange is high.	The trading volume of cryptocurrency on decentralized exchange is less.
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Centralized exchange is ricky for users capital because it work's on a server.	Decentralized exchange is more safer because it work's on a blockchain.
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Centralized exchange protect user's capital as the third party.	User's in decentralized exchange are in care of their money.
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User's pay fees in Centralized exchange as per the rules of exchange.	In decentralized exchange there is no fee at all which benefits the trader.
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In centralized exchange, trader can only trade after KYC stage i.e after trader verification and verification of documents.	Decentralized exchange does not require any personal verification. Trader can start trading anytime.
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Centralized is very easy to use. Fast trading can easily be done on it and there is many features available on centralized exchange.	Short term trades can be done at will on centralized exchange. It is difficult to use. Decentralized exchange features are rare.

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Question no 3.

write about any 2 best centralised exchanges of 2021 . why are they best in front of you? (Show screenshot of your verified profile to make verify that you are really using them, or also share any one trade that you made in last 24 hours )

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The two best centralised exchanges in the year 2021.

Binance

Source

Binance was founded by Changpeng Zhoe. Is a cryptocurrency exchange that provide a platform of trading various cryptocurrencies. In April 2021, Binance was rated the largest cryptocurrency exchange in the world in terms of trading volume. Because it is one of the best exchange in the world. Binance is very reliable, easy to operate and all the best coin in the world is listed on Binance. Binance interface is user friendly but verification is very important.

Binance is a trading platform I so much like and i think is the best because because it is reliable, easy to operate, the best coin is listed on it and the fees is very low. It can be use easily by anyone who is just learning crypto.

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Coinbase

Coinbase is a digital currency broker exchange where you can buy and trade Bitcoin and a few other cryptocurrency. Coinbase is considered also one of the biggest cryto-broker changes in the world. It was founded in San Francisco, California in 2012. Coinbase actually have two things or product; A broker exchange and a professional trading platform named GDAX.

I also like coinbase and Is one of the best because is the safest web wallet you can use. Coinbase keeps almost 99% of their assets in an offline cold storage that can't be accessed. And when asests is in cold storage they can not be hacked! Coinbase is one of the exchange that list the sure rising coin. Is also very simple like binance.

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Question no 4.

Install Metamask, and share step by step screenshot, (Practicle step by step )

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Metamask

I will be using Google play store to explain how we can install Metamask.

source

Download and open your Google play store App.

Type Metamask on where you see Google play store or search for app & games. Click on Metamask app the one with this logo.

source

It will show you a page like this. Click on install.

After installing, Open.

When it open, Get started.

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Question no 5.

How to use Uniswap exchange , and Swap/buy or swap/sell any coin (practicle step by step)

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Go to your browser, search for CoinGecko.

At the upper part of the menu you will see three lines. Click on the three lines and click Defi on the list.

Beside Defi coin, Click on Decentralized Exchange (DEX).

On the list of the exchange click on Uniswap (V2)

When it open you will see Start Trading.

It will display Uniswap page. Under swap, it shows the space to select the coin you have, and the coin you want to swap to.

The next step now is to connect your wallet. Click on connect wallet
It will show you list like:

Choose your choice of wallet in the option and click on connect. If you do not have the listed wallet you will need to install them before you can connect it. Am connecting with Metamask.

It will show you if it connected after clicking on connect to connect with your choice of wallet on the list. From there you can buy, sell, and swap.

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Step by step of how you can by coin to buy .

Click on buy,

Buy coin with Transak,

You can change currency to any of your choice.

Then buy.

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How to send

Click on send

Input the address you want to send to.

I have not fund my Metamask I would have love to show us further. Thanks to Prof. @yousafharoonkhan for lecturing us on this Topic. I understood and I was able to practice along with the lesson.