Before we can talk about decentralized and centralized exchange, we need to understand their various definition then that will give us a proper understanding on how to answer the homework task by professor @yousafharoonkhan

Decentralized exchange

Decentralized exchange is a type of a cryptocurrency transaction that let a customer to make a direct business without the need of a middle man and give the customer full authority of the business without any intermidiary involvement. Meaning that no any rule is attached to any transactions and there is direct seller-buyer connection.

Centralized exchange

Centralized exchange is a direct opposite of a decentralized exchange because it's a type of cryptocurrency transaction that have the involvement of an intermediary in every transaction between a seller and a buyer. And during such transaction the is always a set of rule and principle that needs to be followed by both the trader and the buyer or else there might be problem in the Blockchain system.

In a Centralized exchange intermidiary involvement is regard to as the backbone of every transaction.

Difference bewteen Decentralized and Centralized exchanges

(1).

Verifying a customer in Centralized exchange involved difficult stages to be follow and no any transactions can be made without the completion of the verification. While in decentralized exchange there's nothing like verification or presentation of documents prior to any transactions.

(2).

In decentralized exchange, capital are always safe from fraudsters because decentralized exchange involved connections on blockchain with many servers that one person can have a full control over it but Centralized exchange can easily be attack by hackers, as a result of having a Blockchain system that work with only one server.

(3).

Business tend to go more well in a Centralized exchange because of the high volume of the Cryptocurrency while there's less volume of coins during a decentralized exchange.

(4).

Paying fee for every transaction by both the buyer and seller is regarded as a compounding rules of exchange in Centralized exchange while there's no any fee meant to be paid in a decentralized exchange prior to any transactions and this is very important to the seller.

(5).

There is high liquidity in a decentralized exchange although working with decentralized exchange is somehow difficult and that prevents people from rushing there, Centralized exchange tend to have a high trading volume and people opt to it because they are not familiar with the decentralized exchange.

(6).

Sometimes working on Centralized exchange tend to be hindered because of maintenance issue but trade in decentralized exchange is available anytime any day as there's no any issue of maintenance involved.

(7).

It is very easy to work with Centralized exchange because it has many simple features and faster trading speed while working with decentralized exchange is somehow complicated as a result of the rare features and slower trading speed

Binance

Binance is considered one of the best Centralized exchanges of the year 2021, binance is popularly known for Investing Cryptocurrency coins for other Cryptocurrency coins trading as a Centralized exchange, users'are rushing over it because it has a very low transaction fee to be paid.

and has a higher liquidity volume ratio in comparison to other platforms, binance have a very friendly user interface though that is strictly for verified users. All the best and valuable coins are available on binance and also give a tokens of discounts whenever transaction were made in BNB coin. Binance is a kind of platform that can be easily used even without any prior knowledge about cryptocurrencies.

Coinbase

Coinbase is also regarded as the best Centralized exchanges of the year 2021 after binance. Coinbase is a secured and reliable exchange that doubles the market value of any coin that is listed on it and enters the market. Trading on coinbase inquired that only customers of the same country are allowed to make transaction. Coinbase is usually use for it wallet and deposit since the security is very reliable.

How to Install Metamask

Go-to your Google play store app and
search 'metamask'

Download and install

Open the app and wait to load

Tap on create wallet

Create password

Secure the wallet with seed phrase

Copy and save the phrases

Confirm the seed phrase

And you are done

How to Use Uniswap Exchange

To get the full advantage of using all the features uniswap, it needs to be connected to an ethereum wallet as there are many opportunities going and as we all know, Uniswap have a decentralized exchange protocol.

Tap on the top right hand on your metamask and tap on browser