ASSLAM- U-ALIAKUM!

I hope that you all will be enjoying good health. This post is the homework task for professor @yousafharoonkhan. This post will discuss centralized and decentralized exchanges, the use of uni swap, and some best exchanges. I have read the entire lecture in which the professor completely explained the all topics. Let's start our homework.

source from professors post
These are some topics that we will discuss in our post.

QUESTION .1

CENTRALIZED AND DECENTRALIZED EXCHANGES

As we discuss the definition of centralized and decentralized systems in the previous lecture of the professor. CENTRALIZED system is the system that is controlled by a single central authority and DECENTRALIZED system is the system In which any individual can make changes in the system. In centralized and decentralized exchanges we have to discuss their definitions first.

source

Decentralized exchanges:

The decentralized exchanges are those in which the investors that invest have complete freedom to trade according to their own principles. His trading does not depends upon the rules of others or the company. Decentralized exchanges connect the seller and buyer and all transactions are done by the will of the trader. So it means in decentralized exchanges the customer is not dependent on the central authority or company and has freedom in trading.

Centralized exchanges:

The centralized exchanges are those in which the traders or investors work according to the rules that are set by the company and exchanges. He is bound to follow the rules and in the case of violation, he could face problems in the system and could be harmed. Both the seller and buyer are subordinate to the middle man and in decentralized middle man has no role. You can not start the trade-in centralized system without the permission of exchange and the payment is also done by the exchange and the transaction takes place under the middle man principles.

QUESTION.2

DIFFERENCE BETWEEN CENTRALIZED AND DECENTRALIZED EXCHANGES

DECENTRALIZED EXCHANGES	CENTRALIZED EXCHANGES
In decentralized exchanges there is no need for verification the traders can work without passing through the verification process at any time	In centralized exchanges, the verification of profiles and documents is very necessary that one can not start trading without the verification of central authority or company.
In a decentralized exchange, the SECURITY level is higher because the information is present in many blockchains and it is approximately impossible for hackers to hack this.	In centralized exchanges, the SECURITY IS LOWER than that of centralized exchanges and it is easy to steal information from a single authority that controls all exchanges.
In decentralized exchanges, you can trade at any time you want and no problem occurs in maintenance	In centralized exchanges, you can trade with the permission of the central authority and if the problem occurs in maintenance all the trading stops.
In decentralized exchanges, the trader pays no fees	In centralized exchanges, both buyer and seller have to pay fees.
VOLUME of decentralized exchanges are less	Centralized exchanges have high volume than decentralized exchanges.
Decentralized exchanges are difficult to use because there are no many features available	On the other hand centralized exchanges are very easy to use because many advanced features are present in them.

QUESTION.3

BEST CRYPTO CURRENCY EXCHANGES OF 2021

There are many cryptocurrency exchanges in the world that all are working very well in their own way. Now we will discuss the two best cryptocurrency exchanges that are easy to use and considered as best cryptocurrency exchanges.

BINANCE:

source

Binance is considered one of the best exchanges in the world. This platform provides us opportunities for the exchange of many cryptocurrencies. It is a centralized cryptocurrency exchanging platform. I consider it best in the year 2021 because of its reliability and high liquidity and volume. The verification process is very well on this platform and without verification, no one can use your account. It is easy to trade on it and to use it. That's why I called Binance the best platform for cryptocurrency exchanges.the picture of my verified account you can see below.

BITTREX GLOBAL:

Another most important platform in cryptocurrency exchanges is bittrex global. It also has many benefits such as high volume and liquidity and like Binance it is secure and it is also easy to trade on the Bittrex. It is also a centralized exchanging platform and you can trade many cryptocurrencies on it like Etherum and other cryptocurrencies.

source

QUESTION .4

METAMASK

In this question, we will discuss that how can we install metamask. so we discuss it step by step.So let's start our practical with step no.1.

STEP NO.1

• First of all search google for metamask.
• Click on the link to metamask.

As I show in my screenshots.

STEP NO.2

• Click on the download link of the page.
• you will get three options of download
• I select the download with chrome.
• Then add the extension in the chrome.
• then click on the install metamask for chrome options.

STEP NO.3

• You will get the page and click on the option GET STARTED.
• You will get two options of create wallet and import wallet.
• I have selected create wallet options.
• And then agreement you have to click on the agree option.

STEP NO.4

• After getting started you have to create a password.
• After creating the password you will get the page having the option to reveal the secrete words.
• Then click on the reveal your secrete words option and save your secrete words and arrange the words correctly in the next step.

All the work is shown in the screenshots below.

STEP NO.5

• After completing the installations you can swap as I show in the screenshots below.
  
  

QUESTION NO.5

USE OF UNISWAP EXCHANGE

STEP NO.1

• Open uni swap and then click on the use of uni swap option as shown in the screenshot below.

STEP NO.2

• Select the token you want to use.
• as I select ETH and PAXG.

STEP NO.3

• You can also connect with the wallet by clicking on the related option.
• Select a wallet as I have selected metamask.

STEP NO.4

• After connecting the wallet you can also buy and sell the tokens or assets by clicking on buy and sell options that can be seen in the screenshots below.

• you can also enter the amount.

• I have no sufficient amount to enter.

So this was the question that how can we buy and sell the tokens by using uni swap.

CONCLUSION

This was an amazing lecture by @yousafharoonkhan In which he explained centralized and decentralized exchanges and the metamask and uni swap.

Metamask is a decentralized platform where you can buy or sell assets. And we have also learned an easy way to use uni swap. We have also seen some aspects and advantages of centralized and centralized which helps us in trading on different platforms.

So this was my complete homework for professor @yousafharoonkhan .I hope that he will like my assignment.

THANKS FOR VISITING MY POST

SPECIAL MENTIONS:

@yousafharoonkhan
@steemitblog

For their support.