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

[AvatarSiri]

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 😆😆

[JISAN]

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 😆😆

When you use DEX your entire fund will be under your own control.  But when you use CEX your funds are not completely in your control.  So in this case your risk will be higher.  But with CEX you can take an action very quickly and save huge amount of trading fees.  But when you use DEX you have to pay blockchain fee on every trade.  So it is very cost effective.  So I think CEX is better if you don't want to trade huge amounts.  And I use CEX for trading most of the time

[_act_]

I prefer to use centralized exchanges for trading. After I finish trading, I move my money to a noncustodial wallet. I prefer it like that.

I do some swapping on noncustodial wallet but I have not traded futures on decentralized exchanges before. I do not like how they are compared to centralized exchanges.

If you are a day trader or scalping, you will prefer centralized exchanges also..

[taufik123]

-snip-
If you are a day trader or scalping, you will prefer centralized exchanges also..

I also choose centralized exchanges because of the higher volume and also makes it easier for me to scalp, although it can also be done on DEXs, but I am more often on centralized exchanges.

Using Binance, Bitgate or some other tier 1 exchanges, or even local exchanges. But now I have to be more vigilant because there have been many cases of hacking lately, but the funds are still safe, although in every period of profit I get will always withdraw them to my personal wallet.

[ZAINmalik75]

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 😆😆

You are late to join the momentum the right time was 2 to 4 months before the halving that time everyone was buying and due to hype BTC pumped as well as the whole market. Now people are trading the chances for BTC to make another pump are lesser.

If you still want to trade then you must go for CEX but if you prefer anonymity and the other decentralized features you must use DEX. I use CEX for trading the current situation of the market does not have to tell us what way we should be trading.

[AvatarSiri]

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 😆😆

When you use DEX your entire fund will be under your own control.  But when you use CEX your funds are not completely in your control.  So in this case your risk will be higher.  But with CEX you can take an action very quickly and save huge amount of trading fees.  But when you use DEX you have to pay blockchain fee on every trade.  So it is very cost effective.  So I think CEX is better if you don't want to trade huge amounts.  And I use CEX for trading most of the time

What about in terms of liquidity and volume?? Cex or dex??.

[Faisal2202]

When you use DEX your entire fund will be under your own control.  But when you use CEX your funds are not completely in your control.  So in this case your risk will be higher.  But with CEX you can take an action very quickly and save huge amount of trading fees.  But when you use DEX you have to pay blockchain fee on every trade.  So it is very cost effective.  So I think CEX is better if you don't want to trade huge amounts.  And I use CEX for trading most of the time

We also have to pay fee on every trade we make on CEXs and I find them very annoying because at the start they were not that noticeable, but with time they are increasing them I think overall the self possession of funds is necessary as experts used to say we don't own the keys then we don't own the funds.

We should not hold all of the funds in one centralized exchange as if it gets some kind of ban from your country you have to face problems, so distribute funds on different exchanges (cexs) for better security and if fee is not a problem, then DEX is for you.

[SamReomo]

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.

If you want to go for trading then I suggest you to go for CEX instead of DEX. There's nothing wrong in using a good centralized exchange if you aren't doing anything wrong and if privacy doesn't matters a lot for you. However, if you prefer privacy way above then other things then I suggest you to go with a decentralized exchange.

[PX-Z]

Regardless of the risks, security and safety reasons although i take them into account, i am sorry i prefer CEX for many reasons, including good UX, good rates, and higher volume. To be in fact i get out  my funds right after i traded on the platform so no funds will be left on the account.

[Themepen]

I prefer to use centralized exchanges for trading. After I finish trading, I move my money to a noncustodial wallet. I prefer it like that.

I do some swapping on noncustodial wallet but I have not traded futures on decentralized exchanges before. I do not like how they are compared to centralized exchanges.

If you are a day trader or scalping, you will prefer centralized exchanges also..

I agree that centralized exchanges are good for trading especially for day traders and scalpers who require speed and liquidity. Decentralized exchanges still lag behind in terms of user experience and functionality. While non custodial wallets offer security and control CEXs provide the necessary tools for active trading. Means every platform has its own advantages. CEXs gives that which DEXs and Wallets can't give or DEXs gives that which others can't give.

So this is good to use CEXs for trading and after that if we want to hold any coin so wr should use wallets.

[royalRitta]

Regardless of the risks, security and safety reasons although i take them into account, i am sorry i prefer CEX for many reasons, including good UX, good rates, and higher volume. To be in fact i get out  my funds right after i traded on the platform so no funds will be left on the account.

Yeah, CEXes are just usually more user-friendly, that's just the fact.
OKX never got me in a good mood with anything that it should do.

[electronicash]

DEX and SWAP platforms are what they usually recommend for anonymity but the desire to make money i think is just more enticing. its easy for anyone to use the CEX for we could also use the p2p to cash out the profit.

the dexes are just so easy to use and i think most of us are not so open to connecting out wallets to a dex knowing that a hack could happen any time.

[vegasus]

I usually use centralized exchanges. And for now, the ones I use most often are 2.
1. Binance
2. Tokocrypto, this is a local exchange in my country where I usually use it for withdrawal purposes to a bank account. Because the WD fee is quite cheap. And this is also part of Binance, so if you send coins from Binance to this local exchange, it's usually free.

Oh yeah, for DEX, I actually rarely do it, unless it's for trading new coins, and that would be much better on a DEX like Pancakeswap than having to send it to CEX. But of course both have their own pros and cons.

[bitterguy28]

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 😆😆

i have not much experience with the platforms you have mentioned but if you are already familiar with dex why are you still hesitant? anyway i am not advising both but it can go either way because it all depends on your preference and what you can or can’t stand

it’s basically picking a poison that won’t kill you with cex obviously you can’t expect that it your money is all in your custody there is a risk that the platform may question your funds and hold it and may need to collect more information from you so if privacy is a big deal to you then obviously you should just rule out cex

meanwhile with dex yes it gives you privacy but you would need to be the most responsible here because the customer service support will not be as reliable as cex and the liquidity might not be as good as in cex so both has risks and cons but still have their own unique strengths just pick one that is more important to you

[enoch_from_off]

I usually use centralized exchanges. And for now, the ones I use most often are 2.
1. Binance
2. Tokocrypto, this is a local exchange in my country where I usually use it for withdrawal purposes to a bank account. Because the WD fee is quite cheap. And this is also part of Binance, so if you send coins from Binance to this local exchange, it's usually free.

Oh yeah, for DEX, I actually rarely do it, unless it's for trading new coins, and that would be much better on a DEX like Pancakeswap than having to send it to CEX. But of course both have their own pros and cons.

What would be the cons of DEXes for you?
Just interested to hear your point of view on it. - I only used OKX, and I would gladly hear from you what you think about it.