Post
Topic
Board Nigeria (Naija)
Merits 3 from 2 users
Re: CEX or DEX - which one is better
by
Fiasem20
on 16/02/2025, 15:08:21 UTC
⭐ Merited by Cityhunter34 (2) ,CryptopreneurBrainboss (1)
Centralised Exchange control your funds for you while in  Decentralized Exchange you control your funds by yourself...

So Which on is better??




Mr Shade
Choosing an exchange depends on what you want and your intention.If you want a KYC free exchange then DEXs are available in the industry.If keeping your personal information private and anonymous don't really matter to you then you can go for CEXs.Just like the name implies decentralized exchange; users have control over their funds,in essence on a decentralized platform you are own bank, peradventure you lost your coins they're no customer service to reach out to on a decentralized platform while centralized exchange as the name implies; users rely on a trade party to manage their funds and execute trade.On a centralized exchange you can reach to customer service for any complaint because it is manage by an individual or companies.Both exchanges have advantages and disadvantages,but it's advisable for a newbie to use CEXs because it's users friendly and the liquidity pool is high.Most importantly never store your assets on an exchange whether centralized or decentralized,I created a thread on CEX you can read it for further clarity CEX is not the best platform in regards to holding Bitcoin for a long term.