This is my homework assignment for Season 2 Week 3 for Professor @yousafharoonkhan.

Blogging Challenge Part #5 - Dia 1 Es Primavera ¿Te encanta o la odias Day 1 It´s Spring, are you lovin´It or hatin´It(3).png

separador de parrafosJY (2).png

Question no 1 : Write the definition of Decentralized and Centralized Exchange in your own words.(definition should cover exchanges ,not system) only explain in your own words, after understand the exchanges.

In recent decades, the use of exchanges has increased, many of them recognized for their track record in the market for several years, identifying two types of exchange: centralized and decentralized.

Centralized exchanges are those exchanges of cryptocurrencies that are made between two people through an intermediary, in this case the intermediary becomes the platform and where the cryptocurrencies are not in our possession but in that of the intermediary, one of the main disadvantages that present this type of exchange.

Among the best known are: Bittrex, Poloniex, Bitfinex and Binance.

Decentralized exchanges are those exchanges where they are not involved or are not handled by any intermediary and trades are carried out in pairs (P2P), with the particularity that the platforms that provide this type of exchange work with software with blockchain technology.

Some that can be mentioned are OpenLedger, Ox, ShapeShift, EtherDelta, Waves, Changelly, Bitsqueare, among others.

Source

Question no 2 : Explain in your own words the difference between decentralization and centralization exchanges (answer should related exchanges ,not over all system.. (answer must be written in oun words, copy paste or from other source copy will be not accepted)

Centralized	Decentralized
Transactions involve an intermediary, the platform	There are no intermediaries, transactions are between two people.
Control of cryptocurrency funds is in the hands of the intermediary	The user has 100% control of the funds.
If passwords or 2FA are forgotten or lost, they can be recovered, because the user has given the broker permission to access the information and facilitate the password recovery process.	If you forget or lose passwords it is the responsibility of the user, all information must be protected by it.
They require the registration and identity verification of the user.	It does not require the registration or verification of information, there are even some that you can make a transaction without registering.
Operations are performed through the broker.	All transactions are made directly, through secure smart contracts.
Charge commissions for each transaction.	Less costs per commission, only the transaction is paid on the blockchain.

Source

Question no 3 : Write about any 2 best centralised exchanges of 2021 . why are they best in front of you? (Show screenshot of your verified profile to make verify that you are really using them, or also share any one trade that you made in last 24 hours )

Within the Top 10 for 2021 of the most used centralized bags I consider one of the best is Binance, particularly I have had the opportunity to use it recently.

Among the advantages it offers is its ease of trading, it has a platform very friendly for beginners like me, which captivated me from day one.

Among the many services offered by Binance, we find the large number of cryptocurrencies it handles (around 275), as well as a range of possibilities for investment.

Source

I hope to raise acceptable capital to enjoy some transactions within the range of my possibilities and knowledge.

Below I show some images of my profile in Binance and the last operation I performed:

Question no 4 : Install Metamask, and share step by step screenshot ,(Practicle step by step )

This cryptocurrency software, released in 2016, is well known today, allows you to interact as a Chrome extension with the Ethereum blockchain.

It is very easy to use, below the step by step of my experience with Metamask:

Step 1:

I started my experience with registering my user: I selected the wallet option, then the 12 secret backup phrases are presented, where the conditions are presented to you and due safeguard is made externally.

In addition to making the selection to continue with the registration.

Step 2:

Once the "All Ready" button appears it is pressed and you can find a plantalla you will present the options of buying, selling and exchanging.
Once you press the swap option you get a new screen:

Step 3:

The cryptocurrency to be exchanged is selected, in my case I selected 1 ETH, where it initially presents me on the screen that will be verified 9 sources:

Step 4:

Finally it shows the options of the quotes, in my case I show you both, the first one you leave, and then the second one that was accepted since it was higher.

Question no 5 : How to use Uniswap exchange , and Swap/buy or swap/sell any coin (practicle step by step )

To complete this task, I then show the step-by-step practice of using Uniswap, for illustrative purposes only, for the purposes of this work.