For traders, do you prefer using centralized exchanges or decentralized exchange

[libert19]

I prefer dexes, because:

1) No KYC is required

2) Lot more tokens choice since there is no such thing as called 'listing' on dexes — have contract address of token you want to trade and that token has enough liquidity? You are good to go.

Only con I can think of is, you will be required to pay gas fee.

There are also perpetuals dexes if one is into it, but I personally did not have good experience with those.

[luckyledger]

I prefer dexes, because:

1) No KYC is required

2) Lot more tokens choice since there is no such thing as called 'listing' on dexes — have contract address of token you want to trade and that token has enough liquidity? You are good to go.

Only con I can think of is, you will be required to pay gas fee.

There are also perpetuals dexes if one is into it, but I personally did not have good experience with those.

Interesting. What exactly wasn't good with perps DEXes?
I am genuinely interested in your view and experience on it.

[libert19]

I prefer dexes, because:

1) No KYC is required

2) Lot more tokens choice since there is no such thing as called 'listing' on dexes — have contract address of token you want to trade and that token has enough liquidity? You are good to go.

Only con I can think of is, you will be required to pay gas fee.

There are also perpetuals dexes if one is into it, but I personally did not have good experience with those.

Interesting. What exactly wasn't good with perps DEXes?
I am genuinely interested in your view and experience on it.

So it was Pika protocol called perp dex, I had longed Ethereum there from about $1300 with liquidation price around $900 IIRC, it was supposed to be a long term position, but they had updates in which users were to force close their positions, and I had to too, those Ether prices were not seen again and I regretted closing the position.

[luckyledger]

I prefer dexes, because:

1) No KYC is required

2) Lot more tokens choice since there is no such thing as called 'listing' on dexes — have contract address of token you want to trade and that token has enough liquidity? You are good to go.

Only con I can think of is, you will be required to pay gas fee.

There are also perpetuals dexes if one is into it, but I personally did not have good experience with those.

Interesting. What exactly wasn't good with perps DEXes?
I am genuinely interested in your view and experience on it.

So it was Pika protocol called perp dex, I had longed Ethereum there from about $1300 with liquidation price around $900 IIRC, it was supposed to be a long term position, but they had updates in which users were to force close their positions, and I had to too, those Ether prices were not seen again and I regretted closing the position.

;( That's sad. Thanks for sharing it though, much appreciated!
Interesting to try these on other DEXes, though, I am not a fan of perps at all.

[TomPluz]

Looking at the many good responses for your inquiry, I am sure the biggest winner is CEX for trading...while also taking into account that DEX may have some advantages too. Now, as for me, I still prefer CEX so choose one you think you can trust, has a strong track record of security and good level of support. Always remember that any platform you may use will have many associated risks so make sure you are minimizing those risks and not exposed yourself to them unnecessarily. Good luck on your trading journey and please update us here from time to time with your experience.

[satpol_PP]

Looking at the many good responses for your inquiry, I am sure the biggest winner is CEX for trading...while also taking into account that DEX may have some advantages too. Now, as for me, I still prefer CEX so choose one you think you can trust, has a strong track record of security and good level of support. Always remember that any platform you may use will have many associated risks so make sure you are minimizing those risks and not exposed yourself to them unnecessarily. Good luck on your trading journey and please update us here from time to time with your experience.

I also choose CEX on reputable exchanges, such as binance, kucoin, gate.io etc. I spend more time and trade on these exchanges. Because I think the security is sufficient in making transactions on CEX. but if there are those who are more comfortable and can get a difference in profit on DEX, they can use it. I thin it depend on you.

[Fivestar4everMVP]

With bullish momentum picking up, I’m thinking about getting into trading back but I’m unsure which option is better and more straightforward: CEX or DEX. Any advice would be appreciated.

For context, I’ve been exploring several DEX platforms like LogX, dYdX, and others. I’d love to hear your insights. Please don't suggest both 😆😆

If you are are a professional traders, or maybe not, but you just want to trade like a pro, then for me, I think a centralized exchange like Binance, bybit, bitget are the best choices.

Decentralized exchanges can be good but they do not offer they convinience and speed that centralized exchanges offer, imagine opening a trade and waiting for several minutes to get a confirmation so as to move on to the next trade? Dex platforms (to me) are very convenient for buying tokens that are not to be sold immediately or like a minute of two later.

To enjoy a really good trading experience with great tools at your disposal, and good volume and liquidity, choosing a top centralized trading platforms like the ones I mentioned above is the best option if you ask me.

[Gurujebs]

With bullish momentum picking up, I’m thinking about getting into trading back but I’m unsure which option is better and more straightforward: CEX or DEX. Any advice would be appreciated.

For context, I’ve been exploring several DEX platforms like LogX, dYdX, and others. I’d love to hear your insights. Please don't suggest both 😆😆

Cex doesn't have a good tools to make charts looks professional and many of then have just swap functions. I am not going to lie to you, I used centralized exchanges to trade and they are not one or two, depending on how voluminous that coin is traded and they are easy to chart just like I said and the order are still based on traditional financial trading place, unlike Dex that doesn't even have chart for their traders.

Some traders do use Cex since the price of coins from other places follow centralized exchanges coins, they do use coins from cex to trade but actually executed the main thing on the decentralized exchange since they value their own privacy in Dex exchanges than centralized exchanges.

[Findingnemo]

From a trader's perspective currently the centralized exchanges are the best because they have more trading volume which is important for trader, more trading pairs, better user experience and customer support in case if there's an issue but the only downside is paying huge fee while withdrawal.

DEX is definitely option who don't want to do KYC, and doesn't even want to hold their crypto assets for even a while in someone else's custody.

[royalRitta]

From a trader's perspective currently the centralized exchanges are the best because they have more trading volume which is important for trader, more trading pairs, better user experience and customer support in case if there's an issue but the only downside is paying huge fee while withdrawal.

DEX is definitely option who don't want to do KYC, and doesn't even want to hold their crypto assets for even a while in someone else's custody.

So CEX = stability and volume, DEX - security, first and foremost?
That's everybody's choice to take, of course, but both can be utilized to some extent by the same trader.

[AvatarSiri]

I prefer dexes, because:

1) No KYC is required

2) Lot more tokens choice since there is no such thing as called 'listing' on dexes — have contract address of token you want to trade and that token has enough liquidity? You are good to go.

Only con I can think of is, you will be required to pay gas fee.

There are also perpetuals dexes if one is into it, but I personally did not have good experience with those.

I think I've made my choice from these comments. Dex could be slow though. RN I want convenience

[Findingnemo]

From a trader's perspective currently the centralized exchanges are the best because they have more trading volume which is important for trader, more trading pairs, better user experience and customer support in case if there's an issue but the only downside is paying huge fee while withdrawal.

DEX is definitely option who don't want to do KYC, and doesn't even want to hold their crypto assets for even a while in someone else's custody.

So CEX = stability and volume, DEX - security, first and foremost?
That's everybody's choice to take, of course, but both can be utilized to some extent by the same trader.

Not every DEX are truly decentralized, I don't want to name any of them but let's say most of them are and security for our funds because we hold our funds but there are also many possibilities for security vulnerabilities on DEXes so it's not recommended for newbie unless they are aware of what they are doing.

Using DEX will lead us to KYC but at least we get to have a better trading experience and as long as we don't keep any funds sleeping in exchange's wallet it's not really a big concern for me.

[bayu7adi]

CEX is still worth my consideration, it really provides better convenience than DEX... moreover using DEX does not guarantee that it is something safe from hacking, and even some DEX actually have many shortcomings that make me reluctant to trade there...

Currently I am more dominant in using popular CEX with more pairs... I am still in the stage of building a more stable finance first, before prioritizing what privacy is... I realize that my money is not enough, and my priority is to increase it first, then focus on privacy issues for the continuation.

[Rubel007]

Centralized or decentralized exchange both are good for conducting trading activities but personally I prefer centralized exchange. One of the main reasons for using DEX is to protect user privacy. DEX is better if a user prefers anonymity. It will be used for experienced traders. But hacking is more likely happen. Scammers with various phishing links are more likely to attack. Centralized platforms have the influence of intermediaries whereas users on DEX platforms do not need such intermediaries. However, it is quite different from CEX and DEX in terms of usability and other advantages. I feel quite comfortable using centralized exchanges.

[|MINER|]

Actually, I would like to know what kind of trader he is before suggesting here. If he is a day trader, then I will suggest him to use centralized exchange because in this case the amount of trade is high and in this case it can be seen that centralized is one whose trading fee is very low.
This is why it is more profitable for day traders to use a centralized exchange.  On the other hand, if you have to use a decentralized exchange, in this case, if you pay the fee repeatedly, it can be seen that a huge amount is going into this exchange fee, which is actually not beneficial for trading.  But if long term holder then it will be best for him to use decentralize exchanger.