Is there difference between bank and cryptocurrency exchange?

[PRIBO247]

There are lots of differences, with banks, your transaction is exposed while in crypto. Banks are able to loan while crypto do not. With crypto transaction is  anonymous while in the bank this is not so.

[Iconetlife]

I don't have problems with DEX or CEX, they have their respective advantages. The main problems are fees and minimum transactions. In fact, I doubt that DEX can be said to be a centralized solution to the ugliness of the system but will add to the problems in each individual. Bitcoin was made in protest against the monopoly of the monetary system at the central bank, but at the moment bitcoin also has the same problem, namely there are those who can monopolize bitcoin. Everything happens because bitcoin is sold based on fiat value.

[lopart]

 As an online business, it exchanges electronically transferred money and digital currencies.[1] Often, the digital currency exchanges operate outside the Western countries to avoid regulation and prosecution.

[bettyhill]

Being decentralized does not translate to being a non-profit organization. It only means there is no central body controlling their activities. Having fiat currencies is different from having crypto currencies. If you want both you might just have to endure the cost of each.

[Mut-coin]

THat's why I still prefer to pay something in fees in well known primary centralized exchange like Binance because if liqudiity is low you will pay more because of big bid-ask spread.

[gribble]

Yes, of course there are a lot of big differences between banks and cryptocurrency exchange, because banks can provide loans to someone in need and while digital currency exchange cannot. because in crypto exchanges we can set prices to sell or buy, while on the other hand banks do not have them.

[ComeBack]

I agree that it's really making more than to those banks that we all know but on exchange I believed that there's still an opportunity to ask to have a profit by trading which is we can't or hard to do on the real banks.

[Raboni]

its a big difference buddy!
few reasons here.
1. volatility - when you put your money to banks you are assure of the interest rate and your money will eventually increase as time passes by. While putting your money to cryptocurrency exchange it could triple in just few days or worst you would loss its value and your money will be worthless.
2. Market condition - banks are not affected by market condition whatever market condition they are fixed value. Meaning you borrowed money you will fee to them plus the interest. It does not lowered. While cryptocurrency is so different. Market condition plays a big role to your investment. Putting it in bear market would surely loss your capital.
3. Security - I would say, banks are more secured than cryptocurrency in terms of keeping your money.

I agree. This statement covers some of the major differences between bank and cryptocurrencies banks. It is more stable to invest the money in banks than in cryptocurrencies full of surprises.

[Pandawa5]

tentu saja, banyak perbedaan antara bank dan pertukaran cryptococurrancy adalah yang utama, antara lain, jika kita menyimpan uang kita di bank untuk masa depan tidak ada nilai dan untuk transaksi yang akan dilakukan di masyarakat sementara di criptococurrancy sebaliknya adalah dari Bank

[daviost]

Come to think of it, we said blockchain is bringing decentralized to the world by cryptocurrency and save us from banks , but have we really gotten the decentralized we talking about because I can't imagine exchange taking so much from us by buying the tokens and still not save by keeping our funds in their cares , this makes me think that are we really in decentralized world we talking about or just a mere thinking.

These exchange makes money even more than banks from us, which mean we are enriching someone by doing so,

Do we really need to pay that much for exchanging of token for BTC or any other cryptocurrency if some exchange is charging 0.25% and one is charging 0.15% and even offer 50% discount if their token is used to pay for the fees and still record millions as a profit every month and also take more than what miner takes as charge fees when sending out from their wallet like 0.0005 which is equal to 3$ compare with regular fee which is less to 1$ , and if anything happens to your fund they are less concern , don't you think we are in centralized crypto market even if we can gain from those token we bought and what do you guys think is the best way to really curb this centralized thing from the world ?

Do we need DEX to stop this and are we save in DEX also has some were hacked just of recent?

What do you guys think is the best solution for the fees and how can we decentralized crypto world?

decentralized exchange lack of liquidity and only a few of coin will listed on there.
Bank and cryptocurrency exchange of course not same. You save your fiat currency in bank and it value will be like that. not change at all.
If you buy in cryptocurrency, your coin value will up or down depending on the market situation.
and talk about the fee, Bank will charge you monthly fee too like administration fee and card fee too.
so both of them need a fee to pay for the operational cost.

[MOProgress]

I think cryptocurrency exchange is like a market where people do buying and selling business, while bank is where money is been stored.