Decentralized exchange(DEX) and Centralized Exchange(CEX)

Decentralized is a concept that emerged with blockchain technology. DEX is a type of exchange that offers a type of P2P service that allows investors to trade cryptocurrencies between them. DEX users can independently perform trades on the blockchain and store their coins. In other words, users can perform transactions among themselves without the need for a third person. We can call this one of the safest ways to transfer on blockchain. Anyone who connects their computer to the blockchain system can help make the money transfer happen. Each computer connected to this system is called a "node" and there are thousands of nodes in the system. For example I am a hacker. I want to steal information. In order to do this, I have to capture every node connected to the system. This makes hacking impossible.

Centralized Exchange, on the other hand, is a type of exchange that is the opposite of Decentralized Exchange. When CEX users want to perform crypto money trades, the 3rd person is involved in the trade. So the process is performed by a centralized agent. It is easier to hack than DEX because transactions are carried out from a single location, and if CEX experiences any hacking, all users' information will be threatened.

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Difference between decentralization and centralization exchanges

• You do not have identity information in DEXs, but in CEXs, identity information of users is stored on servers. Since there is no KYC in DEXs, there is no data recovery situation. You have to protect your information such as private keys.

• As I mentioned in the definition above, the probability of hacking is lower in DEXs because security is better than CEX.

• CEX's processing speed is faster than DEX. Users' transactions are processed faster.

• DEX's transaction fee is lower than CEX.

• Since investors generally prefer CEXs, the number of users in DEXs is low. Therefore, CEX's volume is higher than DEX.

• CEXs are platforms established by a person or company for profit. It is the person or company that owns the decisions about the future of the platform.

Write about any 2 best centralised exchanges of 2021. Why are they best in front of you?

Binance & Bittrex Global
Binance: It is the world's largest cryptocurrency exchange. The main reason I and other users use it is reliability. The owner of the 4 exchanges in Turkey last week shut down the site. They disappeared with users' money. The owner of the 4 different exchanges in Turkey last week shut down the website. Some of these disappeared and some were arrested. The largest of these is the Thodex exchange. Its previous name was koineks. It was an exchange I used in 2018. They stole $2 billion and the CEO is said to have fled to Thailand. A large exchange such as Binance will not cause such victimization to users.

Also, binance's mobile app has a good user interface and the application is very easy to use. The last 24h volume is $ 38,586,110,869. Since the transaction volume is high, our coin purchases and sales can take place more quickly. Even a 10-second difference can make us earn 5% more. In addition, new coins to be listed on binance can generally earn high profits. I can also make a good profit from this.

Bittrex: The large variety of coins makes bittrex attractive. The most important feature for me is that I can trade SBD. Although SBD does not have a lot of trading volume, the easiest way to buy and sell is bittrex. I also like the use of bittrex's app.

MetaMask & Uniswap

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Uniswap

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Conclusion
This week's agenda in my country was the theft of the cryptocurrency assets of hundreds of thousands of people. If you are a cryptocurrency investor, trust should be first for you. As we learned from this homework, the reliability of DEXs is quite high. I think people will be able to store their crypto assets more securely if the use of decentralized exchanges becomes widespread.

CC:
@yousafharoonkhan