Which do you prefer, CEXs or DEXs?

[debra]

Yes, you are right, the DEX system is currently not much in demand by traders from whales to traders who are still beginners because as you mentioned, CEX is easier to use and makes more sense.

Many people prefer to use CEX because it is easier to use. Although we have some popular DEX, people still use most popular CEX. I think CEX can be more popular because the teams also have the marketing targets for the exchanges. But in DEX, most of them aren't very attractive, they don't need to promote them selves to others. So, not many people are familiar with DEX.

[Cryptsafe]

OP, frankly speaking, I do not like cex but I have no option than using it for my trading and other relevant crypto currency activities.  So far most of the features on cex can likely not be seen on dex as a result of making dex not too open for  seem less transaction.

I believe the cex came all this way to aid most people who are not too familiar with blockchain and crypto so they could be able to survive and benefit by introducing   all features so they could be able to get acquainted with the platforms and things about it. Although cex has it issues of hacking and lots more which is detrimental to both the cex and customers but it is okay compared to the technicalities involved in the dex.

We do love anonymity but not on the sense that we could really make use of DEX on day to day trading and other features or services on which CEX have. Yes, its really that contradictory but
we cant really deny that it is really that way more accessible and more that convenient on our part but of course there would really be those in exchange like your anonymity considering these platforms would really be having that KYC and there's nothing we can do about it but honestly it isnt really just that a problem though because in exchange is on the benefits
and the advantageous thing that you could really be having in exchange.

Well, actually, if we are talking about daily trade, if I have done it on any Dex platform, my answer is no. Although it's been several times that I've been able to buy cryptocurrency on the Dex platform, I only do holdings.

Then just take a peek sometimes, but of course you should also save the seed and password because this will be our key anytime we open our wallet accounts on the Dex platform via metamask, whether it's using Sol, BSC, Matic, or Eth.

I am not too comfortable with Dex though but I do use it for purchase and after I do that, I transfer my token from that wallet to a new wallet I just created I do not keep any token on any wallet I have connected to a Dex website for the safety of my assets.
Saving of key phrase is very important and vital because they are the straight access to your wallet which means if any one gets at your keys, they also have access to your wallet and you know what that means.

[KryptoBull]

Many people prefer to use CEX because it is easier to use. Although we have some popular DEX, people still use most popular CEX. I think CEX can be more popular because the teams also have the marketing targets for the exchanges. But in DEX, most of them aren't very attractive, they don't need to promote them selves to others. So, not many people are familiar with DEX.

Numbers don't lie: the majority of respondents admitted that they prefer to use CEXs, even though they understand that DEXs are better for their identity and crypto assets. I believe that the best choice should include both: CEXs for trading needs with good liquidity, ease of use and many features, DEXs for self-custody of crypto assets.

We don't need to choose one thing and deny the other. The competition between them has helped us to have safer CEXs and more feature-rich DEXs, and users are the ones who benefit from this competition.

[gunhell16]

Many people prefer to use CEX because it is easier to use. Although we have some popular DEX, people still use most popular CEX. I think CEX can be more popular because the teams also have the marketing targets for the exchanges. But in DEX, most of them aren't very attractive, they don't need to promote them selves to others. So, not many people are familiar with DEX.

Numbers don't lie: the majority of respondents admitted that they prefer to use CEXs, even though they understand that DEXs are better for their identity and crypto assets. I believe that the best choice should include both: CEXs for trading needs with good liquidity, ease of use and many features, DEXs for self-custody of crypto assets.

We don't need to choose one thing and deny the other. The competition between them has helped us to have safer CEXs and more feature-rich DEXs, and users are the ones who benefit from this competition.

Yes, you are right there. The majority of the communities here actually prefer the centralized exchange platform; maybe that's what they're used to. I have nothing against Dex platforms, to be honest.

Because we actually have more control over the DEX compared to the CEX, that's why it is listed more often. The CEX platform is for the coins that want to be traded in reality. And there is no problem, because if it is also reputed, it is fine for me, to be honest.

[0t3p0t]

Yes, you are right, the DEX system is currently not much in demand by traders from whales to traders who are still beginners because as you mentioned, CEX is easier to use and makes more sense.

Many people prefer to use CEX because it is easier to use. Although we have some popular DEX, people still use most popular CEX. I think CEX can be more popular because the teams also have the marketing targets for the exchanges. But in DEX, most of them aren't very attractive, they don't need to promote them selves to others. So, not many people are familiar with DEX.

CEX also comply regulations that is why the trust of it's users will probably choose in favor of the centralized ones. They also have the most liquidity so that may also add up to the trust build-up compared to DEX's. The only problem with international CEX's tend to not comply a specific country's regulation that is why they are getting banned and this is what had happened to Binance and others in my country right now.

[TopT3ns]

CEX also comply regulations that is why the trust of it's users will probably choose in favor of the centralized ones. They also have the most liquidity so that may also add up to the trust build-up compared to DEX's. The only problem with international CEX's tend to not comply a specific country's regulation that is why they are getting banned and this is what had happened to Binance and others in my country right now.

If we talk about the Binance exchange that does not comply with the rules in several countries like yours then this depends on the policies given by the government to the Binance exchange.

As long as Binance considers the policies provided to have a "Win Win Solution", then Binance will accept and follow the regulations provided by your country.

But if Binance has considered it well but the result is that Binance does not get a "Win Win Solution", then Binance will not accept the policy given by that country.

[jamadrianne]

For my side, it depends on the exchange. If an exchange is suspicious of their backgrounds or something then that's for me it's a red flag. Also, for DEX there are front-running bots that can be removed or the user/trader can be protected from it.

[Themepen]

For my side, it depends on the exchange. If an exchange is suspicious of their backgrounds or something then that's for me it's a red flag. Also, for DEX there are front-running bots that can be removed or the user/trader can be protected from it.

I agree that it is good to be cautious when using exchanges especially if there are suspicions about their backgrounds. It is crucial to do research and ensure that exchange is reputable and trustworthy before conducting any transactions. Additionally presence of front running bots on DEX platforms is valid concern and measures should be taken to protect users and traders from potential manipulation. Overall it is important to prioritize security and transparency when choosing exchange to trade on. When you have a good research so this will help you to make good decision.

[Lucius]

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.

[KryptoBull]

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.

CEXs are completely superior to DEXs in terms of liquidity and user-friendliness. CEXs deserve to be chosen and we also understand more about the trend of interacting with crypto through CEXs from ordinary users. I think in the losses in the collapses of Mt. Gox and FTX, we should not blame the victims, they are not at fault in that event. They were just not careful in managing their crypto assets and had too much trust in a large company in this market.

With the advent of proof of reserves, we can worry less about our assets on CEXs. The ongoing event with KuCoin also shows the value of proof of reserves: KuCoin is still OK because it has enough money for users to withdraw if they want.

[vegasus]

I'm using both.
But, often to CEX.
Why?
One of the reasons is because the local exchange in my country is recognized by the government, namely CEX. There are many, but they are all CEX. and I often use it to make deposits and withdrawals, of course directly. Because, I personally have never tried making a withdrawal using the P2P system directly. So it was through CEX that I did it.

However, for trading, it is not something that is done often, so it is only done a few times on CEX, especially Binance and also Tokocrypto/Indodax for local exchanges. Indeed, it requires KYC verification, and I did it. This is quite a dilemma and there are pros and cons. Certain. But so far, it has been more comfortable using this platform. For DEX itself, only do it once in a while, especially when looking at new projects that are possible to invest in.

[Google+]

I'm using both.
But, often to CEX.
Why?
One of the reasons is because the local exchange in my country is recognized by the government, namely CEX. There are many, but they are all CEX. and I often use it to make deposits and withdrawals, of course directly. Because, I personally have never tried making a withdrawal using the P2P system directly. So it was through CEX that I did it.

However, for trading, it is not something that is done often, so it is only done a few times on CEX, especially Binance and also Tokocrypto/Indodax for local exchanges. Indeed, it requires KYC verification, and I did it. This is quite a dilemma and there are pros and cons. Certain. But so far, it has been more comfortable using this platform. For DEX itself, only do it once in a while, especially when looking at new projects that are possible to invest in.

With the CEX exchange, it will indeed make it easier for you to exchange to fiat money, I think there is no problem if you have to do KYC and just once you can enjoy the benefits and convenience of receiving money directly without having to be confused anymore. I also often use the CEX market to make withdrawals and exchange cryptocurrency into fiat currency.

[kulkhan]

Yes, you are right, the DEX system is currently not much in demand by traders from whales to traders who are still beginners because as you mentioned, CEX is easier to use and makes more sense.

Many people prefer to use CEX because it is easier to use. Although we have some popular DEX, people still use most popular CEX. I think CEX can be more popular because the teams also have the marketing targets for the exchanges. But in DEX, most of them aren't very attractive, they don't need to promote them selves to others. So, not many people are familiar with DEX.

Till now CEX more popular then DEX. I am using CEX from 2016 and i also think CEX is more easier and comfortable for trading. But i also think CEX is good for trading. But if anyone want to invest/hold for long time then i will be prefer for DEX. Because here anyone can use his own wallet. And It's controlling by us. But on the otherhand CEX wallet is not only control by us. Here exchangers can control i think. So i prefer CEX for Trading and DEX for long time holding.

[Fivestar4everMVP]

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?

I think the preference to use a Dex or a Cex boils down to what coin I am buying or want to buy, when a coin or token is not listed on a Cex yet and I find that coin really good to invest in, I have no choice but to buy it on the Cex where it is listed.
But assuming a coin or token I want to invest in is already listed on a Cex, and as well trading on a Dex, then several factors will affect my preference of where to buy that coin or token, and one of such factors is withdrawal fees.

Of withdrawal fees for that coin or tokens is too high for me to pay on a cex, I will definitely prefer to buy that coin or token on a Dex, but if the withdrawal fee is moderate or small, I definitely will prefer to buy the coin on a cex since..
1. There is higher liquidity on centralized exchanges.
2. I don't have to hold the native coin of the blockchain where the token is built on; to buy and withdraw it, on like Dex where you have to mandatory hold the native coin of that blockchain which serves as gas for transactions.

And coming to kyc, kyc with Cex have never been an issue to me, or is there any reason why it should be?

[Crypto Library]

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.  In my case the matter is very similar and for this if someone wants to do short term trading then I would prefer centralized exchanger must choose reputable centralized exchanger. I myself use centralized exchange for my trading but I use decentralized exchange to exchange my long term holding funds.