In Decentralized Exchange, user can control their own fund. It is fast, effective and anonymous with no personal documents required to apply.
It has higher security because it will prevent hacking and downtime. However, its not for beginners because its not easy to use. And ICO investors treat it as dumping area of coins when it is first listed in a decentralized exchanges. (IDEX, EtherDelta, etc.) That is the reason why some ICO developers locked the tokens before listing in centralized exchange to prevent that from happening.
Centralized exchange means it is centralized. It's easy to use and accessible. (Binance, Coinbase, etc.) However, when you use centralized exchanges you always have a big risk for your funds because of hacking attacks. And a lot of people lost their cryptocurrencies and bitcoins due to this.
Which would you choose?
decentralize exchanges was craeted by people too who have access to its system which makes these decentralized exchanges a little centralized too, that is why it is risky to use these DEX as you can see few people can still access its system,because if no one will handle these exchanges who will fix if theres some problem with the exchange? but those centralized exchanges doesnt mean that they are more stable than dex as we know centralized exchanges are more popular and reliable as the developers are working hard to prevent hack attempts.