Asalamualaikum professor @yousafharoonkhan

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I am humbled and grateful to be apart of this weeks lecture and also special apreciations to our noble professor for a good work done after going through the lecture notes and doing some research I want to answer the questions given.

In our previous lecture we talked about decentralization and centralization now we will be talking about their exchanges.

what is a centralized Exchange?

Centralized exchange I would say runs on mainly rules and regulations that govern these exchanges. We all know that where there are rules and regulations governing an asset or something there are also consequences if one does not abide by those rules set in place its the same for centralized exchange. The involvement of middle man or third parties is key in exchanges. An investor cannot trade if permission isn’t granted to him.

what is decentralized exchange?

Decentralized exchange is the exact opposite of centralized with this type of exchange there aren’t any rules and regulations laid down to abide during exchange an investor doesn’t need the permission of any third party to trade giving the investor freedom to trade at any time he or she wishes since they aren’t any rules and permission needed to start a trade, transactions are done when the traders wishes to do so.

DIFFRENCES BETWEEN CENTRALIZED AND DECENTRALIZED EXCHANGES

CENTRALIZED EXCHANGE	DECENTRALIZED EXCHANGE
Transactions fees paid in centralized exchange are very costly since the involvement of third parties	Transaction fees in decentralized exchanges are low since there is no involvement of third parties
Third parties are involved in trading	Third parties aren’t involved in transactions
Before you can trade you have to verify your identity	Identity verification isn’t needed to start trading
Trading can be done with either cash or cryptocurrency	Trading is done with only Cryptocurrency
High volume	low volume
Centralized exchanges usually come with user friendly platforms	Decentralized exchanges have complicated platforms

The two best exchanges of 2021

Binance and coin base are undoubtedly the best centralized exchanges of 2021

Binance

Binance was established in 2017, made up of two words binary and finance = binance, which has a very simple platform and over 400 cryptocurrencies. examples of them are etheruem, bitcoin, dodge coin, light coin and many more to choose from when trading since it’s a centralized exchange to begin trading you have to verify you identity. What makes Binance widely used is when depositing you do not pay any charges and withdrawal fee depends on the cryptocurrency you are dealing with. Another interesting factor is it has its own currency called Binance coin.

Below is my verified Binance account

I sold my ETH

Reasons why I choose Binance

• Simple and easy to use platform
• It has plenty cryptocurrencies to trade from
• Low cost or low transaction fees
• Alerts on any increment of cryptocurrencies

Coin Base

Similarly to Binance it’s platform is aslo very simple to use but coin base was developed in 2012 earlier than Binance. It’s also a trading platform where an investor can trade with over 200 cryptocurrencies it also has low transaction fees but compared higher compared to Binance.

My verified Coinbase account

Reasons why I choose coin base

• Simple platform and very easy to use
• It is popular and trusted by people
• Different ways of buying cryptocurrencies

HOW TO INSTALL METAMASK

• Go to https://app.uniswap.org/#/swap
• select connect to wallet

• click on install metamask

• select Download

• click on install Metamask for chrome

• click on add to chrome

• click on add Metamask as extension

• click on get started

• select create new wallet

• click on agree

• create a password and setup a backup phrase i suggest you download and store the backup phrase where you can easily retrieve it

• click on All done

That is how to install Metamask

HOW TO SWAP USING UNISWAP

• After clicking on All done select start swapping

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• choose the coin you wish to swap i choose etheruem forBAND.

• Enter the amount of ethereum you want to swap BAND.

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since i do not have enough ethereum to swap its written insufficient balance

• After entering the amount review the swap and swap.

conclusion

Basically that's what you need to know about these exchanges special appreciations goes to the professor for this wonderful lecture

Thank you for reading.