Quote from: $crypto$ on December 29, 2021, 11:22:34 AM

It's the same depending on the OP on which option is chosen except on average CEX exchanges have to submit personal documents as to verify the identity of the user, some don't submit documents but that will still be limited to CEX exchanges unless DEX has unlimited exchanges .
I prefer a centralized exchange over a decentralized one, well but that option he chose was probably the best.

As you said, it depends on us whether we will use CEX or DEX. As regular users who use CEX, we do not have a problem with that as we do not do something suspicious because we only trade and make a profit. But DEX is looked like a dark market on the dark web because we really do not know who the trader that trades using that exchange is and we do not know how to solve the problem if we get it in the future.

Quote from: Oceat on December 29, 2021, 08:57:53 PM

It depends on the user actually since no matter what we choose there are pros and cons of both exchanges. Centralized exchange is just following the government protocol if they want to continue their business that's why a mandatory KYC for all user is needed in order for them to track whether the user is using a clean money or not.

The risk of using a decentralized exchange is quite high compared to the centralized one but just like I said, both have their pros and cons. I prefer decentralized one since its less hassle although, not all exchanges are worthy to try even if they say they have or no KYC requirements.

Besides that, each user will have comfortable choosing where they will trade. If they feel comfortable using DEX, they will stay at that exchange and vice versa. We can not force them to move to the CEX if they feel it is not right to send their documents because they still want to hide their identities. For regular users who do not intend to do something illegal, they will prefer to use CEX.