Asslam o alaikum to all my steeMIT friends and dear sir @yousafharoonkhan. Today I am going to submit my second home work task to @yousafharoonkhan.
I posted about decentralized exchange and centralized exchange in my first homework task but today I am going to tell you about a very important difference between decntralized exchange and centralized exchange. Will tell decentralized exchange

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centralized exchange

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centralized exchange:

third person:

In a centralized exchange, there is a third person and an intermediary between the buyer and the seller, which completes the exchange deal between them.

high trading fee:

Centralized exchanges charge very high trading fees. As binance acts as a centralized exchange and charges a trading fee.

Risk of hacking:

The biggest disadvantage of centralized exchange, or most of the risk, is the risk of hacking. Every day we hear that the investor has suffered so much due to hacking.

easy to use for beginner:

Centralized exchange is very easy to use for those who do not know how to exchange.

High volume:

You can exchange large numbers through centralized exchange.

need KYC:

For centralized exchange you need kyc verification. If you have a high volume transection then it has all your information.

per sec high transection:

If you want high volume transection very quickly, you can choose centralized exchange.

decentralized exchange:

no third person:

If you look at a decentralized exchange as opposed to a centralized exchange, then there is no need for a third person on it. You can also call it pair to pair exchanging.

less trading fee:

A decentralized exchange has a much lower trading fee than a centralized exchange.

Not Hacking:

In a centralized exchange where hacking is a threat. It does not happen on decentralized exchange. The user has his own private keys which he uses to transact.

Difficult to use:

Even if you don't have a little knowledge of exchanging. That is, if you are a beginner, you are decentralized
Exchange may be difficult to use.

take more time:

Decentralized is still used by very few people, so it can take a long time to transect or exchange.

no kyc:

For decentralized exchange, you do not need KYC verification. And no matter how many transactions you make on it, no one will have your information.