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If Crypto Is Decentralized, Why Are Centralized Exchanges Used For Trading? - Investment - Nairaland

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Do Centralized Exchanges Incentives Active Users? / Decentralized Exchanges Vs Centralized Exchanges: Which Is More Secure? / Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days (2) (3) (4)

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If Crypto Is Decentralized, Why Are Centralized Exchanges Used For Trading? by jamin006: 12:49am On Nov 21, 2022
Apart from the popular catchphrase “not your keys, not your coins" associated with centralized exchanges, let’s examine the benefits. These benefits, however, would make me choose CEX to keep my funds over DEX no matter what the outcome.

1. CEX offers an easy-to-use interface especially for beginners and investors.
2. Easy conversion of fiats into crypto and vice-versa.
3. Generally complies with financial regulations except you're not a law-abiding citizen.
4. CEX helps you access your account if you forget your login information or lose your 2-factor authentication.
5. Could have insurance to protect your crypto from hacks, which all DEXs lack.
6. Cheap fees for performing transactions such as buying Bitcoin. Some exchanges even charge 0 fee for Bitcoin trade.
7. 24/7 customer support if you're faced with any difficulty which DEX won't be able to render.
8. Lastly, access to liquidity and ability to perform an over-the-counter deal for big purchases.

DEX has several advantages too, especially if you want to continue exploring the world of cryptos, including smart contracts that are not available on CEXs, but the decentralized exchange we all revere so much has many more woes than meets the eye. Its advocates know this for a fact, but they choose to remain manipulative instead.
Re: If Crypto Is Decentralized, Why Are Centralized Exchanges Used For Trading? by newwise1: 3:15am On Nov 21, 2022
Crypto is dead know this to have a peace to found some thing meaningful to do with your life unless you're one of those who chop on some one lose like SBF
Re: If Crypto Is Decentralized, Why Are Centralized Exchanges Used For Trading? by loucbou: 5:27am On Nov 21, 2022
Check: t h e n e w g l o b a l r e s e r v e. c o m

Earn, invest and have peace, + loan opportunities
Re: If Crypto Is Decentralized, Why Are Centralized Exchanges Used For Trading? by jamin006: 10:02am On Nov 21, 2022
newwise1:
Crypto is dead know this to have a peace to found some thing meaningful to do with your life unless you're one of those who chop on some one lose like SBF

May I ask when you joined crypto investing or trading?

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