Decentralization doesn't apply to finance only, and something can be decentralized but still in control of an entity/person/group. In economy, the term decentralization doesn't really mean, we're safe with personal information nor it is the main goal, as some people tend to think.
There are DEXs, which people call it decentralized but they're not. Who control servers, who takes decisions, etc? Not you!
There are centralized exchanges without the KYC, they're still centralized
Who's dumb enough to not give accurate bank numbers. If they don't want to receive money that's fine lol
There are DEXs, which people call it decentralized but they're not. Who control servers, who takes decisions, etc? Not you!
What is the meaning of Centralized and Decentralized. I know it's a very very old question but i want to know more properly. I really appreciate if someone tell me about what is really meaning of Centralized and Decentralized (in easy way 
). And what is the different between Centralized and Decentralized Platform. Which one is good for regular people...?
-TIA
From what I understand if an exchanges or trading platform is centralized you have to do KYC or Know Your Client. It means that your personal informations and details are going to be submitted to an exchanges and decntralized is free from submitting any information about yourself.). And what is the different between Centralized and Decentralized Platform. Which one is good for regular people...?-TIA
There are centralized exchanges without the KYC, they're still centralized
From what I understand if an exchanges or trading platform is centralized you have to do KYC or Know Your Client. It means that your personal informations and details are going to be submitted to an exchanges and decntralized is free from submitting any information about yourself.
We should submit legitimate information on centralized form of exchange like the banking system connected with the government. However with decentralized it has an independent body which has a private and undisclosed information from each costumers who transact trading activities with them.
We should submit legitimate information on centralized form of exchange like the banking system connected with the government. However with decentralized it has an independent body which has a private and undisclosed information from each costumers who transact trading activities with them.
Who's dumb enough to not give accurate bank numbers. If they don't want to receive money that's fine lol