It's another amazing. week to learn in the crypto academy. I want to specially thank and appreciate professor @yousafharoonkhan for given a well detailed lecture which i have read and understood. I will be writing the task given by the professor in this post.

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.

Decentralized Exchange.

Decentralized exchange (DEX) is one of the most used blockchain today because it has shown how secured and promising it is and from my own understanding, it is a digital asset marketplace that works without a central authority, in other words, it does not allow or wait for any third party higher authority before a transaction can be carried out rather, it allows a direct peer-2-peer transaction which gives a user the full control to their private keys when carrying out a transaction on the platform. How ever, decentralized exchange is a platform that operates on proxy assets that normally represent shares in a standard company or tokens ie crypto or fiat currency or an escrow system.

Centralized Exchange.

Centralized exchange (CEX) is one of the most popular platform that is used by so many users, but it is quite the opposite of decentralized exchange. This platform makes use of a central authority thereby not giving a user the full control over a transaction. However, the speed and cost-efficiency of a transaction which solely depends on a single point of authority makes it a very comfortable avenue for traders and investor to trade. Now, in a centralized exchange, exchange of crypto or fiat currency is not allowed instead when a user invest their funds in to an exchange, that exchange takes control over this asset and in return issues the amount of IOUs worth of the asset to the user. This exchange helps the user track their asset and only converts these IOUs to fiat currencies when the user wants to withdraw.

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 own words, copy paste or from other source copy will be not accepted)

Difference Between Decentralized and Centralized Exchanges.

I am going to be discussing their difference based on the following topics:

• Popularity
  We all know that centralized exchange is more popular than decentralized exchange because it came in to the market first. Even though decentralized exchange might have some amazing benefits over centralized exchange, it is still the most popular and thats because this exchange has a better infrastructure and liquidity to offer. But decentralized exchange is gaining popularity as more of this exchange is been developed.

• Features.
  When it comes to features of these exchanges, centralized exchange has more over decentralized exchange. These features includes performing margin trading, using the portfolio management tools and giving a trader the chance to better their trade by giving users the access to multiple advanced order types. But decentralized exchanges does not have much order types and also does not perform the margin trading to their users, maybe that can be be looked into if more advantaged exchanges are developed.

• Fees.
  When it comes to fees, decentralized exchanges has zero or very little charges for carrying out transactions on the exchange. Unlike a centralized exchange that has charges attached to every transaction carried out by a user. These usually differ for different exchanges based on the features they provide.

• Control.
  In a centralized exchange, a third party authority is in control of the accounts of users that is, users dont have direct access to run transaction in the exchange. Unlike decentralized exchange, the users has the full control over their account and runs any transaction on the exchange with their personal private key.

• Security.
  Coming to the security aspect, decentralized exchange offers more protection than centralized exchange. Centralized exchange has more risk of been hacked because of the third party who has access to a user private keys and funds thereby making the user lose all his funds.
  But with decentralized exchange, the risk of been hacked or a user losing his funds is not there.

• Speed.
  Centralized exchange has shown its speed by been fast in executing orders or transactions. Unlike decentralized exchange that is quite slower in the sense that it takes up to one minutes to execute an order. So in this case, centralized exchange is better.

• Regulation.
  When it comes to regulation, centralized exchanges is easily regulated because it is a platform that requires licenses and obey the rules of the local authority. Unlike decentralized exchanges, this platform does not follow any regulations because of its distributed ledger. That is to say, even if crypto exchanges is banned in a particular place just like my country, Nigeria, we still access decentralized exchanges.

• Liquidity.
  Decentralized exchange does not have much liquidity because of the order matching process takes time. Unlike centralized exchange, it has more liquidity because this exchange allows multiple users trade base on the market trends. For example if a particular asset is in demand, different users can buy and sell it because the exchange has market makers that virtually add liquidity to the exchange.

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.

Binance.

Binance exchange was launched in 2017 having the focus of trading altcoin and because of that, alot of users interested in trading altcoin have found this exchange the best. I feel like binance is the best exchange in the world because it gives more advanced charting than any other exchange. Binance has over 100 different trading pairs between different cryptocurrency, though some comes in fiat-crypto pairs. This exchange allows a user to directly buy a coin with a credit or debit card and allows not just US Dollars deposit for everyone in the world but 12 other fiat currencies which has made it easier for users outside the USA. It has a low feeof 0.1% for both buyer and seller transaction. However, Binance is also suitable for users that would like to trade or invest in altcoins that are less popular. This exchange allows peer-2-peer that is users can buy and sell directly to each other. From its spoting trade, it give less experienced trader the basic quick trade option which enables them simply convert coins at the market rate. For its margin trading, it gives users the opportunity to trade some selected coin.

I was only able to get this notification, i lost my picture for the transaction.

CoinBase.

Coinbase was launched in 2012 and has ever since hold a standard by proving to be the best to new crypto investors. This centralized exchange has proven to be the best by offering a wide variety of products which includes having a wallet that emit some decentralized features. This have allowed users to carry out activities in both systems. Coinbase is licensed in most parts of the US and has over 25 cryptocurrencies that can be invested in or traded with. They charge as low as $0.99 depending on the type of transaction but only limited to users of coinbase pro. Coinbase is user friendly and has been ranked a highly liquidity exchange because they have been able to protect their investors against the volatile market.

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

Since i am using my phone, i changed my browser to desktop view to be able to complete the step perfectly.

• First go to @uniswap.org on your browser and it takes you to the front page where you click the 'use uniswap' icon.
• Next, it takes you to where you can swap your coin but thats what we are doing right now, so i clicked on the connect wallet at the top right side of the page.

Step 1 & 2

• Once you click on the "connect to walley" icon, you see a drop down that has "install metamask" with other options.
• Click on it to take you to the next step which says download now.

Step 3 & 4

• After downloading, i had to install it into my browser extension. So i clicked on the chromo icon which took me to chrome extensions and how to add this extension to my browser.
  -Next, once i am on this page, i clicked on "Add to Chrome" icon by the top right side of the page.

Step 5 & 6

• Once i finished adding this extension, i was taken direct to the welcome page, where i could get started.
• After clicking that, next page was two boxes that enables you choose if you want to create a new wallet or link your previous wallet.

Step 7&8

• As a new user of this wallet, i clicked on create wallet and then i was taken to the terms and condition page where i clicked on 'i agree'.
• I immediately went to the next page to create my password.

Step 9&10

• Once you create a password, you will be asked to reveal you special private keys, which should not be shared with anyone.
• Next is rewrite the words in the previous page which if written correctly, you are done!!

Step 11&12

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

So after install Metamask, you can start swapping your coins. It is quite easy to do that. First click on coin you have in your wallet at the moment that you would like to swap and then search for the coin you would like to swap to. After that click on the connect to wallet. I have never use this wallet before so i don't have any coins to swap at the moment.