INTRODUCTION

Let me start by saying a special thank you to @yousafharoonkhan for this weeks lectures, well explained and well understood.

What its all about is CENTRALIZED EXCHANGE AND DECENTRALIZED EXCHANGE.

When we talk of the major exchange platforms, we are referring to CENTRALIZED AND DECENTRALIZED EXCHANGE.

The definition of Decentralized and Centralized Exchange

CENTRALIZED EXCHANGE; This is any exchange platform owned and managed by a third party. Meaning there is more interference from a third party, including transaction policies, user verification, investment platforms( services and products).
It is operated on a single server making it much vulnerable to hackers.

DECENTRALIZED PLATFORM; Its based on several networks connected together. These exchange do not require any third party for user to be able to operate. It is a gives users the absolute freedom to operate.
No third party interference and rules, you are your own boss.

The difference between decentralization and centralization exchanges

1. Decentralized exchange is the safest to adopt in terms of security because its operated on blockchain network which happens to be operated by several on several servers whiles centralized exchange can easily be hacked because its operated on just a single server making it more vulnerable to hacking ..

2. User friendly when it comes to centralized exchange because its easy to do certain basic activities like trading, sending and receiving of cryptocurrencies but on the other hand, using the decentralized exchange can be very complicated, making it more difficult to use than the centralized exchange.

3. There is no need of maintenance when we talk of decentralized exchange there for it is always available for use whiles there can be what we call, maintenance, upgrade, network errors, break downs etc which can limit the user to no usage of account for a while.

4. There are no fee charges in the de4centralized exchange whiles centralized exchange charges at a very significant rate which is on the terms of the centralized exchange rules.

5. Privacy of the user is assured when it comes to decentralized exchange making the user totally anonymous whiles in the centralized exchange the user has to provide vivid identity before he or she can get access to some basic features.

6. Decentralized exchange does not require any verification in order to use as email and phone verification. some also demand key phrases and private keys which needs to be saved and kept private from any third party but on the other hand, centralized exchange requires series of verification process including document, facial, residential address etc in order to have full access to the ecosystem.. This verification process is termed as KYC.
   Question no 3 :

2 best centralized exchanges of 2021 .

1. BINANCE; This exchange platform happens to be the best in the world because of its credibility and reliability. Binance exchange offers a variety of services. Some this services and products are fast P2P platform, staking of assets/cryptos, investments in other platforms, wallet for other coins. Most coins listed on the Binance exchange are legit and profitable to invest in. There is hi profit maximization when it comes to using this platform.
   Although other platforms are easy to hack and scam users, binance is an exception because of the strong KYC verification.
   Being scammed on this exchange could be as a result of the users own negligence.

SHOWING MY VERIFIED BINANCE ACCOUNT

2 Coinbase; one of the oldest exchange platform, and was the face exchange platform i used. At first coinbase KYC wasn't this difficult and complicated, all you need is your email and phone verification. Anyway, because of it KYC, the system is more secure than before.
This exchange has some policies which includes not allowing resident of each country to trade on the exchange.

HOW TO INSTALL METAMASK

STEP1 VISIT www.app.uniswap.org

STEP 2

CLICK ON METAMASK

STEP 3

CLICK ON DOWNLOAD

STEP 4

CLICK ON INSTALL METAMASK FOR CHROME

STEP 5

CLICK ON ADD TO CHROME

CLICK ADD EXTENSION

DOWNLOADING EXTENSION

CLICK ON GET STARTED

SELECT EITHER IMPORT WALLET OR CREATE NEW WALLET

I will choose create new wallet because I don't have an existing metamask account.

AGREE TO THE TERMS AND CONDITIONS

ENTER YOUR PASSWORD , AGREE TO TERMS AND CLICK CREATE

CLICK ON REVEAL SECRETE WORDS

CLICK ON NEXT

ENTER YOU KEY PHRASE IN ORDERLY MANNER

NOW CONFIRM THE KEY PHRASE

FINALLY WE ARE DONE

Question no 5 :

How to use Uniswap exchange , and Swap/buy or swap/sell any coin

CLICK ON START SWAPING

SELECT ANY OF THE TOKENS AND SWAPP WITH.

Since we are to demonstrate how to use uniswap exchange with metamask, I will connect metamask to my uniswap dapp.

CLICK ON CONNECT WALLET

SELECT METAMASK

CLICK ON NEXT

CHOOSE UNISWAPP

THE AMOUNT I HAVE IN MY META ACCOUNT IS NOT ENOUGH TO PERFORM THIS TRANSACTIONS

center>CONCLUSION

Decentralized and centralized exchanges are both very important but just compare the two and found out which best suit your taste as a crypto investor.

Thank You