Hello Friends,
This blog is all about comparison between decentralized exchanges and centralized exchanges so that you can understand the basic difference between both of them .
So let's Understand first About Centralized Exchange and its pros and Cons
What Is Centralized Exchanges
Centralized exchanges are those where one exchange works as an intermediator which allow us to trade BTC or crypto against fiat currency such as binance , kucoin , bittrex , poliniex and many others .
Pros Of Centralized Exchange :
1- Easy To Use even for amatures and beginners .
2- Advance features available like ( Margin Trading & Stop loss)
3- High Volume So no problelm with liqudity
4- Trades are much faster as high number of transactions per second (Binance has 1.4 Million transactions per second)
Cons Of Centralized Exchange :
1- Exchange acts as intermediator so Trading fees is very high
2- Very high chance of exchange getting hacked and loosing all funds
3- Personal documents required for verification and to start trade (KYC Needed )
Whereas now let's talk about Decentralized Excahnge :
What Is Decentralized Exchange?
An exchange which doesn't require third party or intermediator to hold the investors fund ,here trade occurs between 2 users of the platform which you can even call as P2P (Peer to peer) .
For example if Mark want to buy 5 Bitcoin and Alia want to sell 5 Bitcoin then both will trade amoung themself on platform so there is no need of third party interference in such exchange .
Example of Decentralized exchange are Etherdelta , IDex , switcheo & Nex .
Pros Of Decentralized Exchange :
1- Very Low or nearly no trading fee .
2- Users controls there private keys so no fear of exchange hack and loss of funds .
3- No Kyc Required for verification you can directly start to trade by opening a wallet .
Cons Of Decentralized Exchange :
1- Difficult to use for beginners .
2- Low volume of exchange so liquidation is big problem until full adoption of these exchanges come .
3- For trade need to wait long to match with specific trade value because of low volume .
4- No margin or stop loss available till now .
So for now this is it about both the exchanges but now the main question arrises are the Decentralized exchange Future of crypto exchanges ? Can they replace centralized exchange ?
For me what i feel is Decentralized exchange like switcheo - https://switcheo.exchange/ can be similar like Binance and the early adopters of this exchange and coin can have the max advantage to buy it at lowest price .
Right now if i talk about the coin price is just about $0.0168 and once it is adopted by masses its value can rise just like binance coin as well .
So for me Decentralized exchange can be the future and for me i am in for switcheo coin as well as you never know when we will see this to be mass adopted and hence earn big profits over it as well .
Here Is The Video For My Friends who understand Hindi Language :
Whats your thought about them pls comment down below so i can know what you feel about it ?
Thanks
Sumit kapoor
@moneyguruu
welldone @moneyguruu
again good post its help my work
good luck
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I will also follow sumit sir video he have a lot of technical & crypto experience . hats off sir
me new here .only inspire by summit sir.and i think he is working much better .summit bro there is a big problum for traders in decentralized as very slowtrading.what u think in future is it faster or not? thanks
sumit bhai aap mining machine liya tha , so I want to know whether it is profitable or not ? if you suggest me i can buy it
Even i was Into mining but i feel it's quite difficult with Few Rigs only , especially in india but if you can devote time and stick it to it for couple of years and be a part of mining genuinely you can fetch profit on longer run .
Cheers ;)
Ashish
Pls do check my post of top 3 alt coin which pays passive dividend
https://steemit.com/mgsc/@shoheb.shah/top-3-coins-for-massive-dividend
i like this
do follow back help each other post
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definitely decentrlized exchange will definitely help everyone , because our bitcoin is decentralized hence we need exchange also decentralized, this will remove control of exchange also over unwanted coins and we will have better coins and better projects listed on the exchanges
@online87700 indeed as blockchain is decentralized as well bitcoin exchanges should be as well .
Hello @moneyguruu - I have seen your video on you tube about the difference between centralized and decentralized exchanges. I am going to buy some switcheo coins before its price gone to the moon. In my opinion early buyers have the more chances of getting profited.
Thank you for sharing and giving information of this unknown coin.
100% we should as it can be good for future but there is no guarantee over it but still crypto is all about predicting future and investing over it .
Ripple always
goes down why.
it don't have future
I always say Ripple is not coin that i love its just simply coin which pumps occassionaly badly like bitcoin nd you should simply take advantage of those movements !
Sumit sir,,, i will also be success on steemit please suggest me
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Hello sumit bhai. My self Hardev Singh Rathore me rajsthan jodhpur se hu aap ko thanks karna chahta hu ki aap ne muje or me kae friends ko crypto currency market me bohat help ki . Aap ka sath rahta he to me kud ko hamesa motivat mahshus karta hu .
Thanks
Hi @moneyguruu, which is the best exchanger between fiat and crypto currency? I tried to buy 50 euro of bitcoin by credit card and Changelly asked me a fee of 12,5 euro, 25% is too much, do you think so?
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This is not always true. If you hold Open.EOS for example on Bitshares, then OpenLedger has your keys. You are trusting OpenLedger not to get hacked. The rule is if you have your keys, then they are your coins. Go and find them to make absolutely sure because it is not always the case that decentralization = you have your keys.
@moneyguruu you explain everything in a simple way. and the future of decentralized exchange is great.
https://steemit.com/mgsc/@arjung216/friends-with-benifits
yes looks very great ahead .
Sir please check out my work and suggest me how will grow ?
@moneyguruu i assured you that you make a good plat form for every one.
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Thanks @moneyguruu for sharing a good article with us....
Regard:
@azhar1
My Pleasure
@moneyguruu
Anewala din Dcentralized Exchange ka hi hai.
What say summit bhai ??
@sajjadkabir 100% my friend it is ..
Sir I like your voice qualitie, speech power, and your knowledge
Thanks. You have explained the pros and cons of each exchange very well. While decentralized exchanges maybe the future, I prefer centralized exchanges more because I feel more safe knowing that I have put my money to a "trusted" exchnage. I will look more into decentralized exhanges as well. Thanks!
@moneyguruu With My Observation like that Decentralized digital forms of money like Bitcoin and Ethereum have solid favorable circumstances over concentrated budgetary frameworks, basically due to their capacity to work and work without a solitary purpose of disappointment, which programmers and terrible performing artists can target.local banks shut down, neglecting to give monetary administrations to people and organizations
Hey man great work! Check out my view on this topic:
Centralized Exchanges And Decentralized Exchanges - Comparison and Future Trends
https://steemit.com/bitcoin/@drumsta/centralized-exchanges-and-decentralized-exchanges-comparison-and-future-trends
Takeaway tips from this article is switchio coin
I guess it can grow to huge as you suggested
And we all witnessed of BNB, it grown to 100X and early adapters of BNB made huge profits out of it
Thanks for the article
@real-info . Exactly my main focus is over switcheo coin over here as it has great potential ahead !
Decentralised and centralised is that in theory like having 2 girlfriends 1 tied up in my attic and 1 free to do as she wants?
@moneyguruu sir decentralized exchangers are having bright future in our crypto market.
Yeah bro you have explained in a very simple and better way
According to me also decentralized exchange is a better option in terms of trading fee and in terms of security
keep steeming
@moneyguruu
@zayushz 100% for they will be future of exchanges in crypto .
Whoch exchanger is best Decentralized Exchange or Centralized Exchange @moneyguruu
Idex - etherdelta and switchio are one of best decentralized exchange
and binance is one of best centralized exchange @arjun9
Binance going decentralised soon?
thanks @moneyguruu
Decentralised exchange is the future of crypto exchange. Even Vitalik Buterin has told many times about the importance and need of decentralised exchanges.
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Binance is working on it and lots of projects are in pipeline for DE.
Upvoted you for this great informative article.👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
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@moneyguruu
@ashokmandal indeed it is my friend ..
Yes.....we all agree. Beautifully written article explains in details everything.😊👍👍👍👍
@moneyguruu
importent and good post Mr Sumit @moneyguruu
@moneyguruu thanks sir for showing difference always Decentralized exchange is best for trading.
@umerpathan thanks my friend .
@moneyguruu sumit kapoor is best explainer thank you sir..
@only4you thanks my friend !
Decentralization is great bitcoin is so powerful reason behind is it is decentralized otherwise wales could manage to manipulate lot worse than they are doing now it is the centralized same concept with exchanges all exchanges should be decentralized what do you guys think?
This is one of the best blog for those who are new in crypto market and they don't know about best trading exchange option.
I always used to prefer centralized exchanges because centralized exchanges are safe for trading and we can feel free to trade here without any fear like Binance, Poloniex. But there is little bit fear about decentralized exchanges about fund recovery after hacking and all.
Because centralized exchanges gives us more security to our funds for any hacking and all..
Thanks sir for this article newbies will learn a lot about difference between exchanges..
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I have only insecurities about decentralized exchanges that the missing of funds during any hacking.. I think they are not much safe than centralized platforms like Binance and others
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there is a big technical difference. on a centralized exchange, you transfer your coins onto it, they hold them there, then withdraw as you want. that can get hacked. a decentralized exchange is just an interface with an order book. your coins are never transferred there (except IDEX, which is a hybrid). So think of DEX like peer to peer, wallet to wallet trades.
Yeah, I know and decentralized are platform but users are not much aware about decentralized exchanges.
It's little bit complicated.
I have account on decentralized platform.
Thanks for sharing, I support decentralized exchanges..
Posted using Partiko Android
@devkapoor423 when mass adoption will occur you will see everything get better on decentralized exchanges as well
Yeah, but I read an article that institutional investors are not much interested in Cryptocurrencies.
So what do you think about that article that was published in many news websited. So institutional investors will take some more time before entry..
I read that article yesterday..
And mass adoption only occur only when traditional investors will be here..
hi @moneyguruu Decentralized exchanges will always be liked by massive community and undoubtedly they the future of Crypto trading platforms.Whoch exchanger is best Decentralized Exchange or Centralized Exchange
For sure .
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A company that I work with as a PR & Blogger Outreach Expert is having a survey now and this is one of the topics. Encrybit is also giving away $500 in BTC and other XRP and Encrybit tokens as prizes randomly for people who take the survey. It doesn't matter to me, trade is trade. I just look for profit in it. Good comparison though.
@moneyguruu Can decentralised exchanges be hacked?
@moneyguruu now a days it really helps to the people but the thing is that how should we work on that?
BUT still i support centralised exchange
@moneyguruu,Good work..
Your all posts its always help me.
And your all YouTube videos always help full for me.
I am a trader too and i would like to go with decentralized as the fees is very low and i hope tht other cons like sl and tp system and low liquidity problems will be improved after sometime.thanks for sharing such a valueable information.you are doing a great job.....
slow and steady you will see more and more decentralized exchanges coming in !
Hii sir,
You always helped me on youtube,and now you are doing here this work too.
Your post is really good .
Welldone sir keep it upp
Decentralized exchanges will always be liked by massive community and undoubtedly they the future of Crypto trading platforms. We all must understand positive and negative aspects of decentralized trading on such exchanges.
hi @ moneyguruu very nice info.you ar e doing agazing job. i am just following you hope so with in 2 or 3months i also got rewards like you and thx again for wonderfull info
@cryptolovr i hope you continues to earn in crypto :)
yes i will do it ..apka support aise raha to jroor hoga
Sir upload a video about dtube I am unable to upload a video on dtube
@moneyguruu As of now most of the top exchanges are centralised. Even Binance is a centralised exchange. May be by next year decentralised exchanges will gain popularity
@moneyguruu thank you, Sir, for informing us it will help us a lot
Sir what your opinion which on is better
Excellent information sir..
Good article sir
keep up the great work money guru
Bhai good information like it.
Big fan of you
superb sir decentralized exchange hack hone ke chance 1% he isiliye future me uski demand aayegi... @moneyguruu
Sumit kapoor is a good explainer .Anyone intrested in philosophy come on my profile.
Sir @moneyguruu please tell us about ember coin what will be the future of atheneum coin after swap of ember coin
yes sir @moneyguruu please give me some update about this coin
@moneyguruu very help ful post for me ande veryone keep up bro good work
@sagheer46 thanks my friend .