Hello Everyone

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Hope everybody is well. Today i will share Centralized Exchange (CEX) & Decentralized Exchange (DEX) in Tron Fan Club Community. I love and like to share what I know with everyone. So today I will share as much as I know about Centralized Exchange (CEX) & Decentralized Exchange (DEX).

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There are different types of cryptocurrency pairs on the Exchange platform, we can exchange the crypto assets we have by selecting the pair of our choice. We have to pay a fee from different sites to exchange. The amount of the fee is not always the same, depending on the exchange platform, how much fee I have to pay. Through these exchange platforms we can easily convert these cryptocurrencies into coins in our native currency or fiat currency, through P2P trading.

Centralized Exchange (CEX)
Decentralized Exchange (DEX)

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Centralized Exchange (CEX)

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• Centralized Exchange (CEX) requires the user to provide personal information, not personal privacy.
• In Centralized Exchange (CEX) the user's crypto assets are not fully protected.
• Even if the password is lost in Centralized Exchange (CEX), it can be recovered.
• Fiat currency transactions are allowed on Centralized Exchange (CEX).
• Centralized Exchange (CEX) involves any third party intervention.
• Centralized Exchange (CEX) transaction costs are relatively high.

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Trade on Centralized Exchange (CEX) sites, we first need to create an account. There we can login to that website by giving us an account with mobile number, Gmail and password and we can easily trade on any pair there. However, on this Centralized Exchange (CEX) site, someone is controlling us or in simple words, we are under someone's control. Also we cannot talk about complete security here. We cannot claim to be safe. Because the central entity is watching what we are doing. They also have our mobiles and emails. By doing this I have lost my personal security.

Example

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1. Binance
2. KuCoin
3. Poloniex
4. Huobi Global

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Decentralized Exchange (DEX)

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• Decentralized Exchange (DEX) does not require the user to provide personal information, so there is privacy.
• Fiat currency transactions are not allowed on Decentralized Exchange (DEX).
• Decentralized Exchange (DEX) has the potential for assets loss.
• Decentralized Exchange (DEX) has no third party interference
  -In Decentralized Exchange (DEX) the user's crypto assets are completely protected.

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Here we can control our asset on decentralized Exchange (DEX) sites without any third party intervention and no central entity controls us. There is no mediator and this is complete decentralization. It is much safer for a user. Because here we can transact in a very simple way, it works through a smart contract. There is no central entity here.

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It will automatically exchange it with us through smart agreement. There is no third party intervention, so it is much more secure than Centralized Exchange (CEX). Decentralized Exchange (DEX) is much safer and users have their own personal security.

Example

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1. JustSwap
2. Uniswap
3. Honeyswap
4. SushiSwap

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I tried with you on today's topic, I hope you like today's post.I will come up with something new in the next post. Today I am saying goodbye.

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Best Regards

@aniksikder

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