Greetings teacher @yousafharoonkhan another week that I can participate in your class here at the #CryptoAcademy, after reading your lecture on your second assignment, from the second season of week 3 of the academy, I am on my way to do my assignment.

_{photo of my authorship made in an application called Canva}

Decentralized Exchanges (DEX)

Decentralized exchange is the exchange where users carry out their operations independently without the participation of third parties, users interact directly with the exchange making decisions of their own free will. In other words, it is an exchange where information and operations can be transmitted without the participation of a central unit.

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Centralized Exchange

It is the type of exchange where users carry out operations with the participation of a third party, in this type of exchange a certain type of rules must be followed and a fee is charged. The user does not operate with his own will, but rather through a central entity.

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Differences between decentralized and centralized exchange

• Participation: in the decentralized exchange there is no participation of third parties in the operation, while in the centralized one there is participation of third parties in the transactions.

• Verification: in decentralized exchanges you can easily operate without the need for verification, while in centralized exchanges you must go through a document and identity verification process to be able to operate in it.

• Rates: in decentralized exchange the rates for operations are zero or very low while in the centralized exchange the rates are higher.

• Trade options: in the centralized exchange there are trades such as spot, margin and futures, while the decentralized one does not exist this type of trade.

• Speed: decentralized exchanges operations are faster and there is no limitation for small balances, while centralized exchanges are slightly slower and sometimes do not allow operations with small balances.

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2 best centralized exchanges of 2021

BINANCE

It is the most popular platform and exchange and which tops the list in 2021 as the best centralized exchange platform which has more than 100 crypto assets to trade and since 2018 is considered the exchange platform with the most volume. It is one of the easiest exchanges to use either from your computer or with your mobile phone through its app, Binance offers its users security and confidence when carrying out their operations.
I have my Binance account for some time but actually I have used it after being part of the steemit platform, since in my country to buy currencies and then operate with them is all very limited and I use Binance to exchange my steem to other currencies and make any type of investment.

POLINEX

It is another of the exchange platforms that I have used after my adventure in this world of steemit since it presents parity with its steem currency and is very easy to use. After the verification process, which is not the easiest but the most complicated, you just have to be aware of the details that everything is in order and legible. I also use this exchange platform to deposit my tron (TRX) provided by the steem platform and then exchange them.

Metamask installation

Step 1

-We go to the website _Metamask

-Select on the option "download now"

-We choose the type of system we use (Android, IOS or Chrome) and then we select to install metamask for Android (in my case I download for Android since I do not have a desktop computer)

• it will direct us to the Google play application and select to download the Metamask application

Step 2

Due to privacy policies, the application did not allow me to take screenshots, I will briefly explain the following steps.

• A screen will open where three options will appear:

  Import with recovery phrase.
  Synchronize with the Metamask extension.
  Create new portfolio.

• we click on the option "Create new portfolio"

• Then we must enter our password and confirm it, this indicates its security level (weak, medium or Strong)

• Then it tells us the recovery phrases, in case of losing our password they will help us to recover it.

• It shows us our recovery phrases and that we copy them

• Then it asks us to select the order of our recovery phrases previously shown to finalize the registration.

How to use uniswap to swap

Step 1

• We go to the web address of uniswap

Step 2

• We connect with our wallet in this case I do it from my mobile where I have Metamask installed and it is linked automatically

Step 3

-I select the token that I want to exchange in my case is from ETH to DAI

-I indicate the amount of ETH that I want to exchange and it tells me the amount of DAi that I will get and the price of each DAI in relation to ETH.

In this case I do not have ETH available to carry out the transaction.

Conclusion

The exchanges are made by the requirement of users to obtain another currency, in exchange for one they already have, usually for investment purposes and in search of benefits for themselves.

The exchange platforms can be centralized and decentralized, one with characteristics that distinguish it from one another and it is up to the investor and the needs that he has to choose which one meets according to his planned objectives.

Thanks to the teacher @yousafharoonkhan for this magnificent conference where I was able to instruct myself a little more in this world of crypto assets and continue to nourish myself with knowledge.

all screenshots are my property taken from my Xiaomi Mi A2