Which do you prefer, CEXs or DEXs?

[PX-Z]

It is known that Decentralized Exchange is more safe for users than Centralized Exchange but if one wants to do trading in Decentralized Exchange then he has to face huge trading fee which in most cases traders cannot afford.

It's not that huge actually, but it's still counts especially transaction fees. Aside from fees, the volume in DEX are much lower compare to CEX, that's why if you're trading just smaller amount, yes, centralized exchange are much better.
But all of us have personal preference,  especially those who are private person.

[armanda90]

For arbitrage using both of them because ever arbitrage some coins from DEXs to CEXs and some time each other, take difference price usually new coins listing on CEXs have higher price than DEXs and take profitable. For trading as usually CEXs is better than DEXs with lower fees trade and CEXs usually get bigger for fees transaction.
In CEXs exchange we can sell coins based on our price but DEXs have to sell coins instant price without feature limit order, you can't sell coins higher than current price in DEXs exchange but you can sell when using CEXs exchange market.

[Primo1760]

I would like to know your opinion on CEXs and DEXs:

• Which do you prefer, CEXs or DEXs, and why?
• For CEX users: Does KYC concerns impact your choice of CEXs?
• For DEX users: Do you believe DEXs have the potential to completely replace CEXs in the future?

If I had to make a direct choice, I would say I prefer CEX. Because I use CEX all the time when trading I rarely use DEX. Coins that are not listed on good CEX exchanges I use Dex to trade occasionally and I don't use Dex. Maybe someone else may not like using CEX and KYC system may affect a lot but for me KYC system does not affect at all. I never believe DEX can affect the CEX system. CEX will always be popular and popular.

[KryptoBull]

If I had to make a direct choice, I would say I prefer CEX. Because I use CEX all the time when trading I rarely use DEX. Coins that are not listed on good CEX exchanges I use Dex to trade occasionally and I don't use Dex. Maybe someone else may not like using CEX and KYC system may affect a lot but for me KYC system does not affect at all. I never believe DEX can affect the CEX system. CEX will always be popular and popular.

CEXs are really convenient, have many features, better liquidity, and lower transaction fees than DEXs. Ordinary users will be willing to perform KYC and use CEXs instead of having to learn about blockchains, create accounts, and use DEXs appropriately. As you can see, we have seen the growth of CEXs over the years, even though DEXs have been introduced and operated effectively. I also believe that CEXs will still exist and be loved for many years to come, despite the improvement and competition from DEXs and the trend of users self-custodying their assets.

[$crypto$]

I would like to know your opinion on CEXs and DEXs:

• Which do you prefer, CEXs or DEXs, and why?
• For CEX users: Does KYC concerns impact your choice of CEXs?
• For DEX users: Do you believe DEXs have the potential to completely replace CEXs in the future?

If I had to make a direct choice, I would say I prefer CEX. Because I use CEX all the time when trading I rarely use DEX. Coins that are not listed on good CEX exchanges I use Dex to trade occasionally and I don't use Dex. Maybe someone else may not like using CEX and KYC system may affect a lot but for me KYC system does not affect at all. I never believe DEX can affect the CEX system. CEX will always be popular and popular.

I prioritize my needs and in fact I still use both, I think both CEX and DEX are very helpful in my activities in crypto. I think it's better to use both.

In my opinion, KYC is not a problem as long as the CEX has very high trust, because it is also for our security too. However, I am also sure that almost everyone in this space will definitely have and use both for their activities, because I think both are needed.

[bhadz]

I use both of them, when I am in need of some tokens that I want to trade and it's not found on the CEX that I am using, I'll find it to dexs but if it's with the preference, I am with the cexs. The features that they've got is favourable to me and they are simply and easier to use than the setup of the dexs as it will mostly going to charge you with every transfer that you do. Whilst in the cexs, they've got offchain transactions that won't cost you anything.

[SmartGold01]

Of the 9 people who voted in the poll, even 77% voted for CEX, which speaks volumes about how important privacy or personal data protection is to people. Of course, everyone wants liquidity and as many options as possible, but I would always prefer decentralized exchanges, which are not only good for privacy, but also because they serve only as an exchange, not as a wallet.

However, everyone has the right to their choice, but then they should be aware that when a case like the failure of FTX happens, they should always admit that part of the blame lies with themselves.

The reason I noticed most people voted for CEX is because of security and not privacy, I can see that lots of people don't want their coin to miss or wallet gotten hacked by DEXs. Usually everyone has their choice of option to make, as for me I still preferred Centralized exchange because whenever a trade is carried out we can moved our funds to a self-custodian wallet after trade or after acquiring the coins needed to buy. While in Decentralized exchange, we can still buy any coin but the security of our wallet is mostly needed and if we don't play very smart we could get hacked or phished, so people most prefer moving their funds to a secondary wallet before associating it with the exchange to avoid hack but, not everyone who loves moving their funds from wallet to wallet before performing some trades.

[gunhell16]

Of the 9 people who voted in the poll, even 77% voted for CEX, which speaks volumes about how important privacy or personal data protection is to people. Of course, everyone wants liquidity and as many options as possible, but I would always prefer decentralized exchanges, which are not only good for privacy, but also because they serve only as an exchange, not as a wallet.

However, everyone has the right to their choice, but then they should be aware that when a case like the failure of FTX happens, they should always admit that part of the blame lies with themselves.

The reason I noticed most people voted for CEX is because of security and not privacy, I can see that lots of people don't want their coin to miss or wallet gotten hacked by DEXs. Usually everyone has their choice of option to make, as for me I still preferred Centralized exchange because whenever a trade is carried out we can moved our funds to a self-custodian wallet after trade or after acquiring the coins needed to buy. While in Decentralized exchange, we can still buy any coin but the security of our wallet is mostly needed and if we don't play very smart we could get hacked or phished, so people most prefer moving their funds to a secondary wallet before associating it with the exchange to avoid hack but, not everyone who loves moving their funds from wallet to wallet before performing some trades.

Perhaps one of the factors that causes other communities here in the cryptocurrency space that we live in to feel that their assets are more secure when, for example, there is a hacking issue and they know that the exchange will not allow their users to be arrested. similar to what Binance does.

Whereas with the Dex platform, it's not like that, and we have no idea who can help us when there are hacking problems in a decentralized exchange. That's what I see as the reason for my opinion, and that's what I think too.

[Gurujebs]

It's not that huge actually, but it's still counts especially transaction fees. Aside from fees, the volume in DEX are much lower compare to CEX, that's why if you're trading just smaller amount, yes, centralized exchange are much better.
But all of us have personal preference,  especially those who are private person.

Centralized exchanges are not better, they are just convinient and user friendly because it was designed to look how forex and brokers are, if at all decentralized exchange is similar to how centralized can exchanges are, a lot of people will go to decentralized exchange because you have a lot of privacy in decentralized than you will do in centralized exchanges.

If you have ever been a victim of centralized exchanges like not been able to withdraw, you will hate centralized exchanges. You will be verified and yet wouldn't be allow to withdraw, you will even contact their customer support only to be told that it will take some weeks before they get back to you, it can never happen on decentralized exchange because your keys belong to you.

[milewilda]

Of the 9 people who voted in the poll, even 77% voted for CEX, which speaks volumes about how important privacy or personal data protection is to people. Of course, everyone wants liquidity and as many options as possible, but I would always prefer decentralized exchanges, which are not only good for privacy, but also because they serve only as an exchange, not as a wallet.

However, everyone has the right to their choice, but then they should be aware that when a case like the failure of FTX happens, they should always admit that part of the blame lies with themselves.

The reason I noticed most people voted for CEX is because of security and not privacy, I can see that lots of people don't want their coin to miss or wallet gotten hacked by DEXs. Usually everyone has their choice of option to make, as for me I still preferred Centralized exchange because whenever a trade is carried out we can moved our funds to a self-custodian wallet after trade or after acquiring the coins needed to buy. While in Decentralized exchange, we can still buy any coin but the security of our wallet is mostly needed and if we don't play very smart we could get hacked or phished, so people most prefer moving their funds to a secondary wallet before associating it with the exchange to avoid hack but, not everyone who loves moving their funds from wallet to wallet before performing some trades.

Perhaps one of the factors that causes other communities here in the cryptocurrency space that we live in to feel that their assets are more secure when, for example, there is a hacking issue and they know that the exchange will not allow their users to be arrested. similar to what Binance does.

Whereas with the Dex platform, it's not like that, and we have no idea who can help us when there are hacking problems in a decentralized exchange. That's what I see as the reason for my opinion, and that's what I think too.

Whether we do hate centralization but we cant really be able to avoid on not to like CEX when it comes into the convenience and benefits on which this is really that in par with those DEX.
When it comes on dealing up with fiat transactions or conversions then CEX would really be the ones will really be that preferred and something that cant be done on dex.
Also if we do really tend to look into the volume then its obvious on where people do really tend to hang out on which it would really be into those centralized exchangers because of this kind of
comfort and convenience.

[Aanuoluwatofunmi]

Each has it's own aspect where we could decide on going for them, if you're into trading, then know that it's likely for you to go for centralized exchanges and you feels like there's nothing to loose or at risk with your KYC informations with centralized exchanges, but if you think privacy is a major concern to you, decentralized exchange will best work for you because you don't have to worry regarding any demands on KYC.

[PX-Z]

... they are just convinient and user friendly because it was designed to look how forex and brokers are, if at all decentralized exchange is similar to how centralized can exchanges are,

You mentioned all the better characteristics of any exchanges exist, and that's why many people use centralized exchanges than the decentralized one.

a lot of people will go to decentralized exchange because you have a lot of privacy in decentralized than you will do in centralized exchanges..

Please provide any better stat of decentralized exchanges compared to known centralized exchange in number of users and in trading volume because there is none.
Many people didn't even know what are DEX because they are little than those CEX.

I'm not a DEX hater, i'm using DEX too, besides that i promote them too. I just spit facts, no sugar coating, and based on experienced, and observance of others' issue. It's true, that DEX are better for any privacy reasons but with mid to advance (technical) knowledge needed to understand it, newbies and average traders/users surely drop using them because of technicalities they don't know.

If you have ever been a victim of centralized exchanges like not been able to withdraw, you will hate centralized exchanges. You will be verified and yet wouldn't be allow to withdraw, you will even contact their customer support only to be told that it will take some weeks before they get back to you, it can never happen on decentralized exchange because your keys belong to you.

Those are the worst experience anyone can, in any exchange. And i never experience any of those in my 7 years in this space. As i only use 1-2 CEX that are trusted, i may say, not those new and low volume exchange.

Just like i said, it's just personal preference, most people will use those easier the better options.

[Thyplaymaker]

Both actually are important, like I use cex account to purchase whatever coin I want to hold in my dex account , cex account is nice though but when it comes to privacy and security Dex just the best . Because holding asset in a cex account can be kinda risky . Because it can be a easy target for hackers than Dex account. So I will say both have their advantage and disadvantages but still holding coin is best In Dex account.

[KingsDen]

Both actually are important, like I use cex account to purchase whatever coin I want to hold in my dex account , cex account is nice though but when it comes to privacy and security Dex just the best . Because holding asset in a cex account can be kinda risky . Because it can be a easy target for hackers than Dex account. So I will say both have their advantage and disadvantages but still holding coin is best In Dex account.

If Decentralized exchanges were as user friendly as the CEXs, I don't think that many people will bother themselves using DEX. It is because the decentralized exchanges require some kind of technical skills and not many people are committed to learn them, so it becomes tedious to people to adopt. A newbie may likely be scammed while trying to use DEXs.

[0t3p0t]

As of the moment I use them both and I haven't had any issues so far aside from technicalities which I am having quiet a hard time using some features as it's unfamiliar to me though I need to gain more knowledge from experts in this community but still I am exploring and observing so yeah part of learning. 😁