Reason - that make popular of Decentralized Exchange (DEX).

Greetings friends,

My purpose in writing this article is to tell you the benefits and advantages of decentralized exchanges only.

I believe that all of you will be well aware of the crypto market and will also use exchanges for transactions.

As an example, suppose you want to trade in crypto currency, now you have two types of exchanges.

1. Centralized Exchanges (CEX)
2. Decentralized Exchanges (DEX)

In Centralized exchange (CEX) you will have to go through the following procedure-
First of all, you have to create an account in that exchange, then you will have to complete the KYC process, That your personal information has now shared with the exchange.
After going through these processes, you will have to transfer your fund/asset to that exchange.
Now for trading, you have to pay the trading fee, which is determined by the exchange itself.
That means users on centralized exchange platform do not have permission for accessing the private keys of their exchange account’s wallets.
Even after you have provided all the confidential information (your identity, address, bank details etc.), your fund is controlled by someone else.

What happens if during this process the exchange is closed or hacked due to any reason - You will lose your fund.
While the procedure of decentralized exchange is quite the opposite. no intermediatary operator will participate in DEX as they are utilizing blockchain (distributed ledger) technology.

Best part of decentralized Exchange (DEX) is that a DEX does not hold anyone’s funds and transactional information, and only serves as a matching and routing layer for trade orders.

Advantage of DEX

*Users have full control of their funds
*Full privacy and transparency
*Decentralized exchanges allow peer-to-peer trading of cryptocurrencies.
*No transaction or withdrawal limit as opposed to centralized exchanges.
*Lower Trading fees in DEX as compared to Centralized exhnage.
*Atomic swaps for faster trading.
*No fake volume.
*Government intervention is not possible.

Disadvantage of DEX

*Low liquidity (most popular reason).
*Low trading volume compared CEX.
*Limited functionality.
*Lack of proper customer support.
*Compair to DEX exchanges, CEX exchanges are often easier to use.

List of some Most popular Decentralized Exchanges

IDEX: https://idex.market/eth/idex
NEWDEX: https://newdex.io/
Switcheo: https://switcheo.network/
Waves DEX: https://wavesprotocol.org/
Bancor DEX: https://www.bancor.network/
Stellarport: https://stellarport.io/
Shapeshift: https://classic.shapeshift.com/

Overall, decentralized exchange (DEX) is the future demand and I am in favor of it. Do you?