Hello All || As-Salaam-Alaikum

Let me start by saying that am really grateful and I appreciate the hardwork, dedication, and time you put in your work to make it look so presentable. This is the first time am participating in your class and am really impressed with your lectures, keep it up.

You have really broken this topic down to our understanding, and am going to continue learning more from you, but before that let me answer the homework task given to me by the able professor @yousafharoonkhan which is on the topic: "Decentralized and Centralized Exchanges, How to use uniswap, best Cryptocurrency Exchanges of 2021".

With that, permit me to present my homework task

Question no 1:
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

Answer no 1:

Decentralized Exchange

There is no doubt that decentralized exchange is different from centralized exchange. Because decentralized exchange can be define as a type of exchange in the crypto market, where customers are free to buy, sell, trade and perform business tasks or transactions at their own will, without the intervention of a middle man.

Decentralized exchanges equally supports peer to peer trading, and to me I think it is more secured because you can control your operations and your coins all by yourself.

Meanwhile

Centralized Exchange

This is a direct opposite to decentralized exchanges. Because a centralized exchange can be define as a type of exchange in the crypto market, where customers are not really free to buy and sell at their own will, they must be an intervention of a middle man before any transaction can take place.

The major difference between decentralized exchanges and centralized exchanges is the present of a middle man.

Question no 2:
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 oun words, copy paste or from other source copy will be not accepted)

Answer no 2:

Here are the differences between decentralized exchanges and centralized exchanges:

• Privacy:
  In Centralized exchanges, they is usually lack of privacy, because a middle man is required before a transaction takes place.
  

  While
  In Decentralized exchanges, they is usually Privacy, because your transactions does not require any middle's man approval.

• Exchange Fees
  In Centralized exchanges, charges fees are always required and in most cases very high.
  

  While
  In Decentralized exchanges, charges fees are not usually required in every activity, and if required, are usually small.

• Customer Service
  In Centralized exchanges, they is a better customer support, especially when it concerns exchanges of fiat to crypto.
  

  While
  In Decentralized exchanges, they is less or no customer service, because you are in control of your services.

• Security
  Centralized exchanges stands the risk of been hacked, because, as the name impliesCentr-alize it usually has a center that can be a target for hackers and as such it's security is not really secured like that of a decentralized exchange.
  

  While
  Decentralized exchanges are much more better in terms of security because there is almost zero chance of it been hacked. Nevertheless, the security of a decentralized exchange depends on the third party services.

Question no 3:
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)

Answer no 3:

• Binance
  There is no doubt that Binance is one of the best exchange in 2021 because of the way it performs transactions plus other peer to peer as easy as possible. I will surely recommend Binance to any newbie to the crypto world, because it contains all the best coins in the world and another good thing about Binance is that it's peer to peer trading is easy and reliable for all users and exchanges from one coin to another coin (spotting) is as easy as possible for everyone.
  So far, I have registered and I have done so many trading especially peer to peer trading.

Below are screenshots of my verified Binance account

Here is a trade made in the last 24 hours

• Coinbase
  Yeah another very good and reliable exchange I have used so far, because it equally has a high liquidity and easy to use. Coinbase is one of the most popular exchanges, since it was founded in 2021.
  Here is my verified Coinbase account
  

Question no 4 :
Install Metamask, and share step by step screenshot ,(Practicle step by step)

Answer no 4:
First step I took was to install the metamask on my Android phone, here are the following steps I took.

• Step 1. I located my Google play store.
  

• Step 2. I then searched for metamask.

• Step 3. I click on install, and then I install and open it.

• Step 4. Now click on the Get started button

Step 5. After including your details which are your strong passwords and confirmation.

Step 6. You then Will have to write that phrase somewhere and confirm it by entering the corresponding phrase.

Step 7. click on All Done during the congratulations message.

Question no 5 :
How to use Uniswap exchange , and Swap/buy or swap/sell any coin (practicle step by step )

Answer no 5:

• See how to trade on Uniswap
  Whenever funds are deposited into the pool token, it can be easily exchanged and withdrawn to another Decentralized Application.

Here are the steps to follow in other to make exchange in UNISWAP:

• Step 1. Goto your browser, I would recommend the "Chrome browser,"" and login to their website [https://app.uniswap.org/].

• Step 2. Then go to the Uniswap exchange interface.

• Step 3. After which you connect your wallet by clicking on the encryption "connect to a network", which could be Trust wallet, Coinbase, or any other wallet supported by Ethereum.

• Step 4. Then select the token you would like to exchange from.

• Step 5. Now select the token you would like to exchange to.

• Step 6. Click on the swap botton.

• Step 7. After all click to confirm the transaction.

It was really an interesting lecture professor @yousafharoonkhan, this is my first homework post for you sir and I hope to learn more from you.

Note: All this pictures were designed by me on canva or personal screenshots made by me.

Thank you all...