ASK LEO: Limit Order In Decentralized Exchange; Are We Going To See A Decline In Centralized Exchange usage?

in LeoFinance2 years ago


When decentralized Exchanges came into the crypto sphere, investors were pleased with the innovation being it, especially the possibility of carrying out transactions without the presence of any third party. The ownership and control of funds it gives is also another enticing feature of it, but there was something that kept people at centralized exchanges when it comes to trading. This is the fact that centralized exchanges offer investors the opportunity to use limit order features to maximize their profit by setting prices to favor their profit needs while trading in decentralized exchanges involves selling at the current market price.

Presently many decentralized exchanges have introduced both Limit Order and Market Order in their exchanges which gives them an edge over centralized Exchanges. Investors are thus likely to feel more comfortable interacting with Decentralized exchanges that have both the features of centralized exchanges, and decentralized exchanges because they won't have to be challenged by partial control of their funds nor be delayed from making transactions due to maintenance issues going on in the centralized exchanges.
Again, the fact that funds are not stored in decentralized exchanges makes it safer and desirable for investors. Apart from peer-to-peer transactions offered by centralized exchanges when it comes to converting from cryptocurrency to fiat currency, there is no order enticing feature that makes it enticing.

Is it possible that when these new Decentralized Exchanges with the features of Centralized exchanges gain good ground, there will be a huge decline in the number of those using Centralized exchanges?.
For me, I believe it is a matter of choice. There are still people who are not comfortable interacting with Decentralized Exchanges due to the presence of fraudulent Smart Contracts and the ongoing phishing activities in Decentralized exchanges, such people will not be moved by these new features. Again, the fact that some of the centralized exchanges have the potential to recover stolen funds when notified on time still keeps people there. For me, decentralized exchange will always be attractive to me. I will only make sure that I verify the Smart contracts I interact with.

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