Pro2trader
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 26
Joined: Wed Mar 06, 2019 7:39 pm

The point of decentralized exchanges

Sun Jan 10, 2021 2:19 pm

The question is whether the decentralized exchange is lame or profitable? I got a good review on this matter https://cryptogeek.info/en/blog/decentralized-exchanges-pros-and-cons. Actually, I think that decetrilized exchanges are getting popular and I don't know a good reason no to use them. But, maybe I missed something, is there other opinions or ideas?

Few_Click_4065
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 44
Joined: Tue Oct 20, 2020 1:49 pm

Re: The point of decentralized exchanges

Tue Jan 19, 2021 7:39 am

I believe the decentralized exchange has both pros and cons :
Pros
You retain control of your funds
You do not have to trust a third party to safely manage your coins and tokens
They provide increased privacy to traders
No risk of server downtime
Lower trading fees than centralized exchanges
The decentralized nature reduces the risk of government regulation or crackdowns
Cons
Not easy to use as conventional exchanges
It can be confusing for the new users
They do not provide advanced trading tools as centralized exchanges
They do not offer as much liquidity as centralized exchanges
Some platforms offer limited customer support
Lack of regulation may concern some users
Read More about : https: //coinpedia.org/beginners-guide/what-is-decentralized-exchanges/

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