I believe it all started from the beginning when Bitcoin and cryptocurrency were just starting up and there was so much propaganda about Bitcoin or cryptocurrency associated with scam and ponzi. So I believe the fear of losing your money to an unknown platform and system was the beginning of wisdom. Then CEX started to gain ground with the identify of the owners in public space and people needed something like that, giving a face to a faceless system maybe. I think that began to create that kind of "security" to people ( at least they erroneously know whose"custody" their money was). It began to grow that way with new adopters being introduced to CEX and it began to look as if CEX platform is friendly but that could be because people were already use to it. Otherwise, most of all services provided by CEX are also provided by Dex example, lending or borrowing, P2P, staking and reward, trading through smart contract. The major difference is that Dex don't hold your money.

It is a function of the fear to lose your money through Blockchain using Dex and Dex don't keep your money. In the pass people prefer to transfer alot of money to exchange for trading and other transactions. So activities there in CEX made it popular.

I believe it all started from the beginning when Bitcoin and cryptocurrency were just starting up and there was so much propaganda about Bitcoin or cryptocurrency associated with scam and ponzi. So I believe the fear of losing your money to an unknown platform and system was the beginning of wisdom. Then CEX to gain ground with the identify of the owners in public space and people needed something like that, giving a face to a faceless system maybe. I think that began to create that kind of "security" to people ( at least they erroneously know whose"custody" their money was). It began to grow that way with new adopters being introduced to CEX and it began to look as if CEX platform is friendly but that could be because people were already use to it. Otherwise, most of all services provided by CEX are also provided by Dex example, lending or borrowing, P2P, staking and reward, trading through smart contract. The major difference is that Dex don't hold your money.