Which do you prefer, CEXs or DEXs?

[SmartGold01]

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.

Both centralized and decentralized exchange the one thing i senses there is trust issues, they both posses same risk but in the other hand people tends to go over there is little or less risk, just as you said. When centralized exchange are more reliable people would think that since they are not in control of their funds they can lose their coin at a given time, similar example has been given to what happen with FTX.
What about Decentralized exchange wallet could be hacked and whom do we hold responsible after all our coin might have been taken away?

[RidwanMalik]

• Which do you prefer, CEXs or DEXs, and why?

My preference is that I use CEX on daily basis. Because it's easy to trade w/o any issues like transaction being delayed. And again why I prefer? CEX has better liquidity compared to DEX swaps. I know others can be higher than CEX. but most of all CEX ticks the box.

I do use DEX but not always.. It's just my opinion, but I don't hate DEX at all

• For CEX users: Does KYC concerns impact your choice of CEXs?

Nah. KYC is like a key to unlocking your door to do anything you want. For me, CEX reputation is one of the reason I trust them with my informations.
There's nothing to be afraid if you didn't commit any crime and or have no crime under your identify.

• For DEX users: Do you believe DEXs have the potential to completely replace CEXs in the future?
  

DEX will always be there and the potential of it to completely replace CEXs is 99% certain.. Why? DEX is a freedom for all of us, we can trade and do transactions without being traced.

[KryptoBull]

My preference is that I use CEX on daily basis. Because it's easy to trade w/o any issues like transaction being delayed. And again why I prefer? CEX has better liquidity compared to DEX swaps. I know others can be higher than CEX. but most of all CEX ticks the box.

I do use DEX but not always.. It's just my opinion, but I don't hate DEX at all

Nah. KYC is like a key to unlocking your door to do anything you want. For me, CEX reputation is one of the reason I trust them with my informations.
There's nothing to be afraid if you didn't commit any crime and or have no crime under your identify.

DEX will always be there and the potential of it to completely replace CEXs is 99% certain.. Why? DEX is a freedom for all of us, we can trade and do transactions without being traced.

What you pointed out are exactly what ordinary users notice in CEXs and we are not surprised that CEXs have continued to grow after DEXs have emerged and become popular in the crypto market. The advantages of liquidity, speed, and low fees will always make CEXs more worth using than DEXs.

Of course, I also believe that CEXs are a place to trade, not a place for us to keep too many assets. Personal accounts will be a more suitable option for us to self-custody crypto assets.

[Vx1]

They all have their own advantages and disadvantages, both CEX and DEX, I often trade in them. So depending on the coin and its price, whichever is more profitable for my trading then that's where I will trade. However, most people may prefer a centralized trading platform to a decentralized trading platform.

[joniboini]

Nah. KYC is like a key to unlocking your door to do anything you want. For me, CEX reputation is one of the reason I trust them with my informations.
There's nothing to be afraid if you didn't commit any crime and or have no crime under your identify.

Have you never heard of KYC data abuse or database leaks? People get spammed with phishing e-mails through that and CEX is not the best place to put your personal data since many attackers are looming around. I think the argument that you did nothing wrong so you can just do KYC without being careful about it is wrong since it is not only about the government putting you in jail but also safeguarding your assets and your personal info from attackers. Not to mention, somebody can use your KYC info and then use some loan services to take a huge loan, then disappear and leave you with a difficult situation if the company doesn't bother to check the info at all. This already happens in my country, and the cost to fight the case is probably not worth the time. Because of this, I prefer DEX, especially if they have enough liquidity for my needs.

[Mr. Magkaisa]

My preference is that I use CEX on daily basis. Because it's easy to trade w/o any issues like transaction being delayed. And again why I prefer? CEX has better liquidity compared to DEX swaps. I know others can be higher than CEX. but most of all CEX ticks the box.

I do use DEX but not always.. It's just my opinion, but I don't hate DEX at all

Nah. KYC is like a key to unlocking your door to do anything you want. For me, CEX reputation is one of the reason I trust them with my informations.
There's nothing to be afraid if you didn't commit any crime and or have no crime under your identify.

DEX will always be there and the potential of it to completely replace CEXs is 99% certain.. Why? DEX is a freedom for all of us, we can trade and do transactions without being traced.

What you pointed out are exactly what ordinary users notice in CEXs and we are not surprised that CEXs have continued to grow after DEXs have emerged and become popular in the crypto market. The advantages of liquidity, speed, and low fees will always make CEXs more worth using than DEXs.

Of course, I also believe that CEXs are a place to trade, not a place for us to keep too many assets. Personal accounts will be a more suitable option for us to self-custody crypto assets.

         -   Maybe that's why the community now trusts CX more in the crypto space because of the p2p services they have that can speed up the transactions of users, something that has increased their trust in a CX platform.

Well, in fact, I'm also one of those who trusted that, to be honest. That's why now, I'm looking more for the one that has p2p features for our fiat currency that aren't that much of a hassle and the transaction to be deducted is big.

[bounceback]

They all have their own advantages and disadvantages, both CEX and DEX, I often trade in them. So depending on the coin and its price, whichever is more profitable for my trading then that's where I will trade. However, most people may prefer a centralized trading platform to a decentralized trading platform.

Actually the same feature between CEX and DEX exchange market just some advantage with CEX available trade with limit order and DEX exchange is not allowed .
In CEX exchange have lower fees for every order buy or sell difference when trading with DEX exchange we must spending higher fees exactly trade on Ethereum erc20 network.
I used both kinds for trading between CEX and DEX, some time DEX exchange give as opportunity take much profit by arbitrage buy at DEX and sell later on CEX exchange with few percent difference price.

[Doovla]

The very appearance of the CEX exchange is incomparably better. The speed of transaction duration as well as the wider choice of networks and the cheapness of gas are definitely decisive reasons. The number of CEX is larger, so it is easier to decide which one you will go for, as there is a list on CMC where you can easily decide on an acceptable exchange. Custody of assets is reliable and difficult to cheat and steal.

[Vx1]

They all have their own advantages and disadvantages, both CEX and DEX, I often trade in them. So depending on the coin and its price, whichever is more profitable for my trading then that's where I will trade. However, most people may prefer a centralized trading platform to a decentralized trading platform.

I used both kinds for trading between CEX and DEX, some time DEX exchange give as opportunity take much profit by arbitrage buy at DEX and sell later on CEX exchange with few percent difference price.

If we do arbitrage trading, then CEX exchanges and DEX exchanges have of course become everyday food.  And it doesn't even matter that the high network fees of the Ethereum ERC20 Blockchain are high, because Arbitrage's profits are very high.  Especially if the trading volume we under is high above $3000-$5000 per transaction.

[Z-tight]

Custody of assets is reliable and difficult to cheat and steal.

The custody of your assets should never be in the hands of a third party, i don't know why you think your funds are safe in their custody, but take note that centralized exchanges can be hacked and they can also confiscate your funds based on their own reasons. Your funds are only safe in your self custody, use exchanges to trade only.

[Doovla]

Definitely the CEX exchange, because I had a terrible experience with the DEX exchange where my money got stuck and no solution could be found, the reason was the use due to little experience and low cost of transactions. The services of CEX are efficient and fast, the security requirements as well as the minimum trading rule are different for everyone, so I choose CEX.

[KryptoBull]

-   Maybe that's why the community now trusts CX more in the crypto space because of the p2p services they have that can speed up the transactions of users, something that has increased their trust in a CX platform.

Well, in fact, I'm also one of those who trusted that, to be honest. That's why now, I'm looking more for the one that has p2p features for our fiat currency that aren't that much of a hassle and the transaction to be deducted is big.

P2P is also just a part of the services that CEXs can offer to users, in which high liquidity and the diversity of trading pairs are really attractive and attract users. Ordinary users do not want to face the complicated knowledge of blockchain, the process of creating and managing accounts, especially interacting with DEX protocols and contracts of many tokens. All they want is to buy and sell tokens easily in order to make profits.

This also confirms that the majority of crypto users still do not really understand or have a high demand for self-custody of crypto, and we are still only in the early stages of the crypto market, which means that the opportunities for us are still very large!