Apparently, Binance exchange users dominate the world.

usually the whole idea of decentralization contradicts centralised crypto currency exchanges because what I mean here is that usually we are meant to be in full control and full possession of our crypto funds right so whenever we open up a crypto wallet or Bitcoin wallet we had a backup phrases. so usually if we lose our phone or we use a laptop or it gets damaged in one VR another we still have the backup phrase.
Backup phrase allows us to restore our balance right now. Then the problem here we have centralise cryptocurrency changes is that they have full possession of our funds right so basically from here is that all information on the back praise is stored centrally by the exchange and the problem with this is that it goes against the whole concept. like concept is that your own bank and you control your own funds.

The above ideology is the -neg of centralized exchange and anonymity as well . But despite that, I guess it pro is more than cons

I wrote about Binance too. You can check my profile to read
Much love