DEX versus CEX , which do you prefer ?

[Josemendez]

Some of us may be seeing DEX AND CEXbut may not fully know what they mean.

DEX is an acronym used to describe decentralized exchange site . DEX offers the user fully control over his account and funds . Example of Dex sites and wallets are uniswap and lead wallet .it makes uses of private keys.

CEX is for centralized exchange sites like Binance and coinbase. In CEX the system control the users account mostly . Once the exchange is hacked, the users funds is hacked as well. The security measures used by the site is two factor authentication .

Which of these two days exchanges do you prefer ?

 

[Akinwale701]

Some of us may be seeing DEX AND CEXbut may not fully know what they mean.

DEX is an acronym used to describe decentralized exchange site . DEX offers the user fully control over his account and funds . Example of Dex sites and wallets are uniswap and lead wallet .it makes uses of private keys.

CEX is for centralized exchange sites like Binance and coinbase. In CEX the system control the users account mostly . Once the exchange is hacked, the users funds is hacked as well. The security measures used by the site is two factor authentication .

Which of these two days exchanges do you prefer ?

To be honest, I have always preferred decentralized exchange sites. this is more reason I can't stop using Block Chain to store my Cryptocurrency. nobody can be trusted, the people controlling the centralized exchange sites can change their mind or even the sites may be hacked one day, who knows? I can't afford to lose my coins.

 

[Josemendez]

To be honest, I have always preferred decentralized exchange sites. this is more reason I can't stop using Block Chain to store my Cryptocurrency. nobody can be trusted, the people controlling the centralized exchange sites can change their mind or even the sites may be hacked one day, who knows? I can't afford to lose my coins.

That's the safest decision to make now ,because many centralized exchange sites have been hacked recently such as livecoin , Atility and these has affected the user's funds . They have to go through rigorous process to recover their lost funds. But with Dex , all these things can be taken care of through private keys

 

[Ralphjoe]

This is a lovely information, from your explanation, I think I prefers the dex platforms over the cex platforms due to the fact that the dex is more safer and secured than the cex platforms but unfortunately I make use of an account with the cex platform. This is due to ignorance though.

 

[Royalty]

DEX is an acronym normally used to describe decentralized exchange site wallet like Uniswap/leadwallet , while CEX is for centralized exchange sites like Binance, Coinbase.
Personally i feel CEX is better . DEX can be slow

 

[Nomad]

I was not aware that uniswap and lead wallet were decentralized exchnages and wallets. I have bene using centralized exchanges since a long time without any issues.

 

[Sincerem]

I have never used any of them. Cex is more rampant than Dex. For now I don't really need any of them until in the future. That is when I will go into esearch about them to choose the most suitable one.