Advantages of decentralized Exchanges are,
- Peer to peer crypto transfers
High Speed transactions
No middlemen intervention
Reduced Transaction fees
Enhanced Security protocols
High Efficiency
I can agree with peer to peer transfers.
I disagree with high speed transactions because, the speed of the transaction will solely depend on how fast the blockchain is.
I can also agree with No middlemen intervention.
But I also disagree with Reduced transaction fees because fees on decentralized exchanges are way higher than fees on centralized exchanges, as a day trader, one can not trade on decentralized exchanges as the fees will be highly exorbitant to bear, to buy or sell a token on uniswap now cost over $80 usd in transaction fees, even to buy or sell token on BSC which is considered a cheap blockchain now cost nothing less than $1 usd, it is not so with centralized exchanges.
I agree 100 percent with enhanced security protocols.
But I disagree with high efficiency because centralized exchanges are more efficient than decentralized exchanges, centralized exchanges can list coins and tokens from different blockchains and traders can trade between this coins and tokens without bothering or minding which blockchain a coin or token belong to, but it's not so with decentralized exchanges which requires users to pay 100 percent attention to the blockchain one is connected to.
In conclusion, decentralized exchanges are more secure than centralized exchanges but centralized exchanges are far more flexible than decentralized exchanges .