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[onlyprofits]

With the enormous growth that the cryptocurrency market has had, many exchangers have emerged, among the most famous we have Binance, Poloniex, Bitfinex, Bitrex.
Currently we find two types, centralized exchangers (CEX) and decentralized exchangers (DEX).

CENTRALIZED EXCHANGERS (CEX)
The most famous are those already mentioned above. They are centralized because they have an intermediary, for the case that concerns us are the platforms, one of the great disadvantages is that the users do not own all the cryptocurrencies they are exchanging since they do not have the private keys of the funds and all the data They are stored on a central server, which is why they are very vulnerable to attack by hackers or scams.

DECENTRALIZED EXCHANGERS (DEX)
Among the best known we have Waves, Changelly, OpenLedger, Ox, EtherDelta, ShapeShift, Bitsqueare, etc.
These exchangers are not managed by a platform, they operate with software that works with blockchain technology. Transactions are made between p2p peers.
One of its great advantages is that governments and regulations do not exist, there is a huge level of anonymity when making any transaction.
You are not spared from hackers as your server is exposed on the internet.
They have many token options unlike CEXs that find it difficult to include new coins due to restrictions.
They are strongly criticized since they use them for money laundering, since they do not require any documentation to be able to carry out operations in them.

Al parecer los dos tipos tienen sus ventajas y desventajas, para mí sería necesario controlar la parte anónima de las transacciones, ya que esto lleva a que se utilicen para operaciones deshonestas.

What is your opinion for one or another type of exchanger?

 

[Franca01]

Yes, definitely when Bitcoin was created it was done for this reason so that you could self-guard your money without a trusted third party, to avoid things like what happened with FTX we must learn from events and the past so as not to fall into the same mistakes.

Yes, we need to always sometimes forget about the passed to look forward the present. This year most of the cryptocurrenct coins are just crashing, i equally don't know why it is happening so.

 

[Balint098]

Dexes are better since you keep your assets in your wallet and you don't have to trust the exchange to hold your coins for you. When you swap an asset on a DEX, both the coins you want to sell and buy will be transferred and taken to your wallet.

 

[Franca01]

Dexes are better since you keep your assets in your wallet and you don't have to trust the exchange to hold your coins for you. When you swap an asset on a DEX, both the coins you want to sell and buy will be transferred and taken to your wallet.

Acyually, i think it is true because all your asset are been controlled by you. And also there is always much security if you don't trust the exchange to hold your coin, which does not encourage you to relaxs.

 

[Riberet19]

Acyually, i think it is true because all your asset are been controlled by you. And also there is always much security if you don't trust the exchange to hold your coin, which does not encourage you to relaxs.

Dexes are better since you keep your assets in your wallet and you don't have to trust the exchange to hold your coins for you. When you swap an asset on a DEX, both the coins you want to sell and buy will be transferred and taken to your wallet.

yes, I also think that the Dex are better in general since you do not have to give more information about you through kyc but the problem is that in general these places have a high fee more than the Cex but well not everything can be good there is a cost to pay

 

[Franca01]

yes, I also think that the Dex are better in general since you do not have to give more information about you through kyc but the problem is that in general these places have a high fee more than the Cex but well not everything can be good there is a cost to pay

Actually, i don't think DEX or CEX can equally take fully control of your assests, what really matter is the individual. This is because, if you fail to apply proper security to your wallet the scammers of these days will never leave you in peace.

 

[magnus2022]

The beauty of cryptocurrency is all about decentralization. Though decentralization makes crypto easy to be used by scammers and dubious investors. On the other, decentralization remove government and financial institutions eyes from our funds. I believe government and financial institutions are worst criminals.

 

[Riberet19]

The beauty of cryptocurrency is all about decentralization. Though decentralization makes crypto easy to be used by scammers and dubious investors. On the other, decentralization remove government and financial institutions eyes from our funds. I believe government and financial institutions are worst criminals.

You have all the reason is why they want to remove the anonymity of cold wallets and pseudonym hot wallets to have all your transaction data, really these people depend on the citizen's money and do not want to escape a single penny

 

[magnus2022]

You have all the reason is why they want to remove the anonymity of cold wallets and pseudonym hot wallets to have all your transaction data, really these people depend on the citizen's money and do not want to escape a single penny

government is worst criminals

 

[Yugocean]

DEX are safer than CEX is a myth. CEX can be scam, bankrupt, or anything, same way DEX are vulnerable because there is no one to move your funds to cold wallets. So whatever you choose, choose after reserch.

 

[Franca01]

DEX are safer than CEX is a myth. CEX can be scam, bankrupt, or anything, same way DEX are vulnerable because there is no one to move your funds to cold wallets. So whatever you choose, choose after reserch.

You cannot just predict like that, all depends on the individual.Sometimes, you need to always make your choice due to what you think you can do better. many prefer DEX with their reasons .

 

[BullyMaguire]

well I think the CEX the main problem they have is in their own name that they are centralized and you will never be sure of your funds although you would also have to see how decentralized the DEX are, in the end I prefer to buy my funds in my cold wallet Ledger usually ...

Having a cold wallet is the best choice.. you own what you own.. it wasn't going to be affected of anything except the prices. I too plans to buy a hardware wallet for when i store crypto for a years long hodl for the future just in case.

 

[Yugocean]

You cannot just predict like that, all depends on the individual.Sometimes, you need to always make your choice due to what you think you can do better. many prefer DEX with their reasons .

Prediction? What Prediction?
I don't stop people from making a deciy, I informed what is happening nowadays. Perhaps you wanted to answer to someone else , and by mistake you quoted mine. What you use?

 

[Franca01]

Having a cold wallet is the best choice.. you own what you own.. it wasn't going to be affected of anything except the prices. I too plans to buy a hardware wallet for when i store crypto for a years long hodl for the future just in case.

That will be the best for you. These days, security is very important in crpto wallet because nowadays hacker or scammers are very smart because an uprotected wallet can easily be hack from them. we need to always becareful when choosing our kind of wallet to invest.

 

[Yugocean]

It is not that cold wallets cannot be hacked, every wallet is only a gateway to enter the blockchain, its key is the real basis of entry. Cold wallets are not USB drives, nor can any softcopy format of crypto be created that can be copy-pasted or cut-pasted.

 

[Riberet19]

Having a cold wallet is the best choice.. you own what you own.. it wasn't going to be affected of anything except the prices. I too plans to buy a hardware wallet for when i store crypto for a years long hodl for the future just in case.

Yes, exactly the best option is a good hardware wallet is an investment in security of your funds, they also have a good price on what they offer Ledger in my case lets you buy even from the device decentralized so it has many advantages.

It is not that cold wallets cannot be hacked, every wallet is only a gateway to enter the blockchain, its key is the real basis of entry. Cold wallets are not USB drives, nor can any softcopy format of crypto be created that can be copy-pasted or cut-pasted.

Yes, you are right all wallets can be hacked, the fact is that with a hardware wallet that for example mine has 24 words in its seed phrase compared to the 12 of my old seed phrase from hot wallets to have it physical you should come to steal me physically and hack the wallet definitvamente gives you a plus of security, But this doesn't mean you can't crack it.

 

[Franca01]

It is not that cold wallets cannot be hacked, every wallet is only a gateway to enter the blockchain, its key is the real basis of entry. Cold wallets are not USB drives, nor can any softcopy format of crypto be created that can be copy-pasted or cut-pasted.

I didn't say it cannot be hacked but depending on how you set your security. If i can ask you this question, are yu aware that an airdrop can be design as a hacking format? So you need to always be smart if you are an investor.

 

[Yugocean]

I have to repeate again that You cannot store cryptos' in wallets, cryptos' will remain in blockchain. Hardware wallets will only keep your keys offline. The seed is a list of 12, 18 or 24 word, that is backup phrase to restore.