Hello Everyone!

This is Sami Zuberi , hope you all are well. I am exceptionally hope set aside a few minutes for perusing my homework post for @yousafharoonkhan and valued it. Here i am going to impart my views on Decentralized and Centralized Exchange. So how about we begin.

Question 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.

Decentralized Exchange.

In order to create a fully decentralized exchange, the four key functions of any of any exchange, capital deposits, order books, order matching, and commodity and asset exchange, must be decentralized. In decentralized exchange You can sell directly from your wallet without ever having to store crypto currency or private keys on an exchange server. A decentralized exchange is a form of crypto currency exchange that is essentially a collection of smart contracts running on a blockchain network. No corporation has full leverage over trade, and it takes place between partners directly. There are relatively few points of failure; the issue is that, depending on the smart contract, the payments may be extremely high, resulting in very low volume and liquidity for a limited number of properties. On the block chain, a shared network peer to peer cryptocurrency trading platform. It can be used to balance trades or as a routine algorithm. Users can buy and sell crypto directly with one another. Without the use of a central authority, they can create and manage their own crypto wallets. Smart contracts are used by a decentralized exchange to look for and match orders.

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Centralized Exchange.

A centralized exchange is a network that allows traders to purchase, sell, and exchange cryptocurrency for fiat money (other cryptos). Centralized markets, like conventional stock exchanges, allow transactions between customers through their own servers and order books. To raise revenue, they charge transaction fees to consumers. They also have access to advanced features such as margin investing, leverage, and lending. Centralized exchanges have a smoother trading environment with a user friendly platform that helps users to conduct transactions easily and store funds. Centralized exchange has more liquidity than Decentralized exchange due to its success. Centralized exchange executes trading orders in a timely manner. Users cannot completely manage their own money because they entrust an exchange with their private keys, which is a drawback of centralized exchange. Since Centralized exchange controls the blockchain and its users' funds, it is possible that users' crypto funds would be lost if the platform is hacked.

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Question 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).

Differences between Decentralization and Centralization Exchanges.

In centralized exchanges, intermediaries such as corporations serve as a middle person to promote trade on their platform in return for offering this service, intermediaries receive trading commissions. Essentially, centralized exchanges are often the first stop for newcomers engaging in cryptocurrency trading. Many users want an interface that connects them to both crypto currency trading and the actual economy, and centralized exchanges have that functionality. Unlike centralized exchanges, decentralized exchanges do not need intermediaries to operate instead, orders and sale orders are paired in the order book. A decentralized market is run by the people who place the buy and sell orders. The difference of liquidity and volume between centralized and decentralized is that the centralized exchanges are simply not as well adopted as centralized counter groups, which may render trading on decentralized platforms a problem since decentralized exchanges have a far smaller trading rate than centralized exchanges owing to their male audience. The usability difference between Centralized and Decentralized is that the centralized exchange often suffers from the longer trading times where traders must wait for crypto transactions to conclude before completing a trade, making it impossible for traders who expect quick trade times to do so. As a result, decentralized exchanges do not have advanced market features such as margin trading and stop losses, making it more difficult for traders to utilize centralized platform. The security difference between the decentralized and centralized exchange is that counter-parties that are centralized, the centralist exchanges are not run by a single entity, and there is no centralized server that keeps track of customer accounts, balances, and other information. There is no one authority or central point that manages user funds, just a decentralized network of nodes that all participate in the networks and all use blockchain to process traits and knowledge across the blockchain as transactions. There is no single entity and there is no single central point that controls user funds the centralized exchanges are trustless which means user always help control of their funds and the remaining control of their private keys to those funds at all time.

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Question 3.

write about any 2 best centralized 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)

In my perception BitMart and Hotbit , is the best centralized exchange. Now i am gonna explain that why they best in front of me :
BitMart was founded in 2017. Bit mart is a leading specialist digital asset trading site for cryptocurrency investors. BitMart is ideal for you this is an exchange that you can trade easily. BitMart is one of the top 15 exchanges with the largest trading rate, and it still serves over a hundred and eighty countries, making it an excellent place to trade. Mobile trading is important for today's on-the-go traders, and Bitmart's platform includes a well-designed mobile program. You downloaded Bitmart's application from Google Play or the App Store the result was excellent on mobile and well worth a look the trading interface is slick and user-friendly. Bitmart's exchange fee is 0.20 percent for takers, with all hand makers receiving a discount on their trade rates in exchange for promoting liquidity at the exchange. Bit mart's makers only charge 0.10 percent per order. This is especially useful for new crypto investors who want a diverse range of deposit options. Many exchangers offer north fiat currency on ramps and all, but Bitmart sticks out by providing this pin and service. That's some of the reason that i found bitmart best.

Another exchange that i found best is Hotbit, Hotbit is ranked 16th in the exchange list, which is a decent place. We will see the 24 hour trading volume on Hotbit. This is going to be a great trade because we have 1864 pairs going on here on hotbit. It's been going without a glitch for the last 29 months. Hotbit does not seem to be any different from other markets, but you can see their trading events and trading dows here. Polaris is another intriguing element, where top-quality crypto projects are carefully curated. The security on Hobit is adequate, as you must implement Google authentication and two-factor authentication for Google, as well as set strong password. These are some of the reasons that i found hotbit best.

I did not have any account and any verified profile on any centralized exchange right now as i learnt crypto , but for sure in future when i start doing trading and investing i must use these exchange.

Question no 4 :

Install Metamask, and share step by step screenshot , ( Practical step by step).

Step 1

On the very first step, I search app.uniswap.org.

Step 2:

In second step i just clicked on the choose to wallet and then choose install metamask.

Step 3.

In third step, I clicked on the download button.

Step 4.

In this step, I clicked on the install metamask for chrome.

Step 5.

In this step i just add the metamask extension to chrome by clicking the add to chrome button.

Step 6.

Here you can see metamask was successfully added to chrome and there was one file is downloaded when the extension was added.

Question 5.

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

There are some steps of using uniswap exchange , below i give screenshots of how i used uniswap exchange and swap eth and luna.

Step 1.

At first, I just opened metamask extension from chrome and then got this interface. After that i clicked on the create wallet button.

Step 2.

In step 2 , I clicked on agree button after reading the terms.

Step 3.

In this step, I created a password.

Step 4.

Then in step 4 , I got backup phrase which is important. After clicking on secret backup phrase i got some spell of words.

Step 5.

In this step i verified my secret backup phrase to proceed further, I hide my secret backup phrase in this below screenshot because of privacy and security.

Step 6.

By reaching this step, I successfully make a wallet.

Step 7.

In this step, I just started swap by clicking on the start swapping button.

Step 8.

In this step, I choose eth and luna coin for swap.

Step 9.

This is the final step, and you can get review of swap.

Conclusion.

Decentralized and Centralized has their own features. They both have some advantages. Customers' fees are the key source of revenue for centralized exchanges, they charge relatively large fees to conduct transactions, particularly if you use fiat currency they profit if the price rises or falls. A centralized exchange is strictly regulated. Centralized exchange necessitates the use of KYC records in order to verify your identity. However, if you wish to stay anonymous, a decentralized exchange might be the answer. The majority of decentralized exchanges were and are based on blockchain technology, which has some restrictions. he next generation block chains, which are based on the best proof of protocol, are also insufficiently efficient to handle a significant number of transactions per second. A centralized crypto currency exchange, on the other hand, will handle 1.4 million transactions per second. Decentralized exchanges are also being overlooked in favor of their centralized counterparties, which already provide far superior trading functionalities and facilities.

Specific mentions to;

@yousafharoonkhan