Quote from: Distinctin on Today at 10:04:21 AM

Exactly. If only we had an easy choice to make then we might've or surely already immersed ourselves in using Decentralized Exchange (DEX) rather than using Centralized Exchange (CEX) where anonymity is not on the table. I know that DEX also have their own share of advantages but for me, that's still an unknown water compared to CEX where we mostly do our transactions because of the advantage it can give like high liquidity, faster transactions, etc.

Under the brightest and most colorful candy wrapper created by a marketer, not the content that is advertised is often hidden. High liquidity and fast transactions are good as long as everything is running smoothly. But when CEX scams, it turns out that all the funds entrusted to it disappear, even if they were earned through fast transactions and wide trading opportunities. And we know that even the biggest exchanges scam from time to time. Losing control over your money even for a short time in the case of bitcoin can be critical: I remember there was a case when the owner of the exchange died, and allegedly took all private keys with him to the grave. Accordingly, there was simply nothing to compensate for the losses of those who trusted this exchange.

And I have not yet touched on the topic of personal data security raised above. But this topic may be even more important. The transfer of such sensitive information to a third party greatly increases the risks of running into big trouble.

Yes, DEXs may not look as comfortable, but they are much safer in the long run.