What is centralized and decentralized exchange ? centralized VS decentralized

in mgsc •  4 months ago

CENTRALIZED EXCHANGE

images (24).jpg
What is centralized exchange ?

Centralized exchanges are taken into consideration the most commonplace form of cryptocurrency exchanges and facilitate the buying and selling of cryptocurrencies with fiat currencies similarly to shopping for cryptocurrencies with different cryptocurrencies. most centralized exchanges accept bills through bank or twine transfers and debit or credit score card bills.

List of Centralized Exchange

1.Poloniex
2.Bittrex
3.HitBTC
4.Yobit
5.Cryptopia

Benefits

1.Advanced features
2.Easy to use
3.advanced tools
4.liquidity

Downsides

1.Exchange control funds
2.Personal documents require
3.not anonymous
4.possible to be hacked

DECENTRALIZED EXCHANGE

What is decentralized exchange?

A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, users trade directly (peer to peer) through an automated process.

List of decentralized exchange

1.Bitsquare
2.Blocknet
3.Coinffeine
4.BlackHalo
5.NOV

Benefits

1.Users are anonymous,decentralized exchanges don’t require any personal information.
2.user control their own funds.
3.Safe from hacking
4.no trading fees
5.no personal documents to apply

Downsides

1.not easy to use
2.basic features
3.if you computer has been hacked, said bye bye
4.Trading features like margin trading, lending and stop loss are currently not available

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I wish you will touch your dream. Please Votes my post & best of luck

·

thanks, appreciate it. i followed you and voted.

bro @iftikharali Is it legal to buy Bitcoin in India? mgsc

·

it is still in progress the supreme court will make decision about that on 21 September

Both Have their own advantages !! But Decentralize Exchanges quite hard to handle due to security risk that can hurt everyone anytime.

·

No bro, Decentralize Exchanges are free of risk they are safe to be hacked, you have your key, no third party is involved, on the other hand centralize Exchanges are risky, third part is involved and possible to be hacked

·
·

You are saying right but my point is that once the key is lost there is no chance of account recovery.

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

Which one is better though?

·

it is difficult to say which one is better but both have advantages and disadvantages

·
·

Yes it is difficult for newbies like me to know...

crypto is a risk in both
mgsc

@iftikharali 𝑾𝒆𝒍𝒍, 𝒂𝒄𝒄𝒐𝒓𝒅𝒊𝒏𝒈 𝒕𝒐 𝒎𝒆 𝑪𝑪𝑬 𝒊𝒔 𝒃𝒆𝒕𝒕𝒆𝒓 𝒂𝒏𝒅 𝒎𝒐𝒔𝒕 𝒑𝒐𝒑𝒖𝒍𝒂𝒓 𝒕𝒉𝒆𝒔𝒆 𝒅𝒂𝒚𝒔 𝒂𝒔 𝒍𝒂𝒓𝒈𝒆 𝒗𝒐𝒍𝒖𝒎𝒆 𝒐𝒇 𝒕𝒓𝒂𝒅𝒆 𝒊𝒔 𝒅𝒐𝒏𝒆 𝒅𝒖𝒆 𝒕𝒐 𝒊𝒕𝒔 𝒉𝒊𝒈𝒉 𝒍𝒊𝒒𝒖𝒊𝒅𝒊𝒕𝒚. 𝑨𝒏𝒅 𝒎𝒐𝒔𝒕 𝑪𝑪𝑬 𝒂𝒓𝒆 𝒍𝒊𝒄𝒆𝒏𝒔𝒆𝒅 𝒂𝒏𝒅 𝒓𝒆𝒈𝒖𝒍𝒂𝒕𝒆𝒅 𝒃𝒚 𝑮𝒐𝒗𝒆𝒓𝒏𝒎𝒆𝒏𝒕 𝑰𝒏𝒔𝒕𝒊𝒕𝒖𝒕𝒊𝒐𝒏𝒔. 𝐖𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐬𝐚𝐲?

·

may be, thanks for guiding

crypto is a risk but we love it

·

life is all risky

Congratulations @iftikharali! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @iftikharali! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the total payout received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!