Why Use a Decentralized Exchange Instead of a Centralized One?

[Alicewinston]

Hi everyone,

I’ve always used centralized exchanges (CEXs) like Binance, Coinbase, and Kraken because they are easy to use. But recently, I’ve been hearing a lot about decentralized exchanges (DEXs) and how they are better for security and privacy. So, I wanted to ask—why do people prefer DEXs over CEXs?

One of the biggest advantages I see is that DEXs don’t require KYC (Know Your Customer), meaning users don’t need to provide personal details. This sounds great for privacy, but does it make trading riskier? What happens if I forget my private keys? Is there any way to recover my funds?

Another thing I’m curious about is liquidity pools. In CEXs, trading is based on order books, but in DEXs like Uniswap and SushiSwap, trades are done through liquidity pools. Does this affect trade execution speed and price slippage?

If you use a DEX, why do you prefer it over a centralized exchange? I’d love to hear your opinions and experiences. Let’s discuss! 

Get Started Today!

For further queries, contact us via:

Whatsapp - 9500575285

E-Mail - [email protected]

Telegram - https://t.me/Coinzclone