Hello friends,
I am doing good, and I hope that you are having a good time with your near and dear ones.
I was reading some articles this week about both types of exchanges. People share different opinions about both types of exchanges whereas some people are saying that centralized exchanges are the better option but at the same time some people also share different opinions. I think that both have their benefits and some disadvantages provided we are following an unbiased opinion.
Centralized exchanges are good for the features and services because they have got it a lot and even the platform is much faster and easy to use. If we talk about the other options, then we get limited services in decentralized exchange because of certain limitations. If we talk about safety, then decentralized are the best options out there whereas they can be some risk with centralized exchanges.
If you are someone who trades a lot on different coins, then centralized is the better option for you because you are going to get more coins with different pairs on such an exchange platform. On the other hand, if you are someone who is not much active in trading and just buys to hold for the long term then DEX can be a good option for you because you also need more safety with the holding and here you get the same.
There is another difference between both types of exchanges if you lose the key with a decentralized wallet then there is no option to recover it. Funds can be recovered with centralized changes because the key remains with them however the safety of funds is another concern that always remains with the centralized exchanges.
After going through these points, it seems that both have got different use cases and benefits, so we need to choose the one as per our preference and convenience. We can also use both depending on the requirement.
Thank you
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