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tradeandholder

All about exchanges, centralized / decentralized

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Cryptocurrency Exchange is a website where you can trade (buy or sell) your cryptocurrency for another or traditional currencies like EUR, USD, GBP. Things  you can do on exchanges:

  • instant buy/sell at a current rate
  • place limit buy/sell orders
  • deposit/withdraw cryptocurrencies as well as traditional currencies
  • analysis via trading tools

 

Types of exchanges

Centralized exchange is a traditional exchange like a website explained above.

To list a few:

Decentralized exchange is an exchange where you don't need to deposit your funds (cryptocurrencies) on a website, instead you can trade directly with another user.

To list a few:

 

What decentralized exchanges bring:

  • No third party fees.
  • Doesn't put you on target for hacking / DOS attacks.
  • Can't seize your assets.
  • Can't require you to fill KYC/AML papers.
  • Won't require submitting FBARs.
  • Can't deny you service based upon where you live.

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Currently they are not better, they are still laggy and WIP (work in progress). But they will be in the future. Decentralized exchanges can be used for trading if you want to avoid authority reports.

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On 27. 2. 2018 at 10:03 AM, oneXghost said:

I found another decentralized exchange: https://idex.market

Trying it out right now!

Guys, this IDEX exchange not worth your time. It's laggy as hell. I spent nearly 2 hours and couldn't place an order. I don't recommend!

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On 27. 2. 2018 at 10:59 AM, mounttedor said:

is better to trade on decentralized exchange?

 

They are good because you don't have to thrust third party, therefore they can't get hack and loose your money but they are not so efficient. You will always have a problem with speeds in comparison to centralized exchanges.

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