DEX or CEX, Which is better?

[Mayorla]

In the crypto world, There are two exchanges, Decentralized Exchanges like Pancakeswap, Trust wallet etc and The Centralized Exchanges like Binance, Kucoin, Hotbit, Huobi etc. Which do you think is better or safer between Centralized and Decentralized Exchanges?

 

[Nomad]

I use CEX even though I understand the benefits of DEX. The reason why I am using CEX is because of the earning potential available. I get access to multiple earning programs and earn passively.

 

[Riberet19]

I have used both, although some have advantages over the others for example in the DEX you do not have to give so much information and not pass the KYC the commissions are very high usually while in the CEX you have to pass a KYC but you have less commissions usually

 

[Mayorla]

I use CEX even though I understand the benefits of DEX. The reason why I am using CEX is because of the earning potential available. I get access to multiple earning programs and earn passively.

Centralized Exchanges offer more liquidity and Volatility than Decentralized Exchanges. The disadvantage I think Decentralized Exchanges have is the fact that it is more secured to use than Centralized Exchanges. You are aware of what happened to FTX?

I have used both, although some have advantages over the others for example in the DEX you do not have to give so much information and not pass the KYC the commissions are very high usually while in the CEX you have to pass a KYC but you have less commissions usually

Yes, that is true, If I intend trading futures, Then I would make use of Centralized Exchanges, because of its high liquidity and Volatility. But if I intend keeping the coin for a long time, I would use a Decentralized wallet. What of you?

 

[Nomad]

You are aware of what happened to FTX?

I am aware of what happened to FTX and a lot of other crypto platforms. Until now I have not lost money because of the exchange collapse. But then crypto is a risky asset because you might even become a victim of rug pull.

 

[Mayorla]

I am aware of what happened to FTX and a lot of other crypto platforms. Until now I have not lost money because of the exchange collapse. But then crypto is a risky asset because you might even become a victim of rug pull.

Yes, I think the collapse of FTX was a bad news for everyone in the Crypto industry, It made most people lose trust in Exchanges and Cryptocurrency in general. I noticed more people are leaning towards Decentralized Exchanges.