Difference between centralized and decentralized

[kangug24]

What is Decentralized Exchange?

A decentralized exchange is an exchange market that does not rely on third party service to hold customer’s funds. Decentralized exchanges also do not store any coins or private keys on central servers. Thus, hackers have to work significantly harder to track down these assets and the passwords which protect them. Trades here occur directly between users (peer to peer) through an automated process. Participants of a decentralized network have the power over their funds instead of a central authority. The promise of trustless decentralized exchanges is taking the middleman out of the picture altogether thanks to automation. Multi-signature escrow measures and proxy tokens are but a few of the ways such trustless is achieved.
©️ Credits to Cryptocompare.com

Pros:
• User control their own funds
• Anonymous
• No hack for central server
• No risk of server downtime
• No personal documents to apply or register

Cons:
• Not easy to use (not for beginners but you can explore)
• Basic exchange features of currency for a predetermined value
• Low Liquidity
• Some exchanges require users to be online in order for an order to be listed and for the trade to take place.

List of Decentralized Exchange:
https://www.airswap.io
https://www.altcoin.io/
https://barterdex.supernet.org/
https://bisq.network/
https://bitshares.org/
https://changelly.com/
https://xcpdex.com/
https://wallet.crypto-bridge.org/
https://etherdelta.com/
https://idex.market/
https://mercatox.com/
https://oasisdex.com/
https://openledger.io/
https://shapeshift.io/
https://token.store/
https://beta.wavesplatform.com/

⚫ What is Centralized Exchange?

A centralized exchange is a website that handles the trading of bitcoin to fiat or other cryptocurrencies. An exchange’s purpose is to allow you to trade BTC for fiat currency and to other cryptocurrencies (like litecoin, eth, etc, ripple, xmr). Intermediaries such as companies act as middle men in order to facilitate trading on their platform. In exchange for providing this service, intermediaries collect trading fees. In essence, centralized exchanges often act as the first point of contact for newcomers that are interested in trading cryptocurrency. Many individuals seek to have an interface that can connect them to both cryptocurrency trading and the real economy, and centralized exchanges provide that.
©️ Credits to mycryptopedia.com

Pros:
• Advanced Features
• Easy to use (beginners can easily cope up)
• Advanced Tools
• Liquidity

Cons:
• Exchange network control the funds
• Personal Information and documents are required (for some features)
• Can be face with downtime servers
• Can be easily have some hacking attempts

List of Centralized Exchange:
https://www.bibox.com/
https://www.binance.com/
https://www.bitfinex.com/
https://www.bitstamp.net/
https://bittrex.com/
https://www.bit-z.com/
https://cex.io/
https://cobinhood.com/home/
https://www.gdax.com/
https://gemini.com/
https://hitbtc.com/
https://www.huobi.pro/
https://www.kraken.com/
https://www.kucoin.com/
https://www.livecoin.net/
https://localbitcoins.com/
https://www.poloniex.com/
https://radarrelay.com/

[Daedalus]

I love decentralized exchange because we have full control to manage all for trading, we also can set custom gas fee