Good day everyone. Here is my homework submission and thanks to Professor @yousafharoonkhan for such a very good lecture. I have really learnt a lot from you.

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A decentralized exchange is a form of an exchange or a trading platform whereby the trader or user is paramount in decision making with a middle man or a third party or a consultant. This type of exchange ensures direct contact of sellers and buyers which promotes trade. Not just that but also enables both traders to determine the prices that suit or fit their trade.

The centralized form of an exchange is the type where the user works operate within the dictate or decree of a middle man or a third party. Here there are set down rules and regulations that must be followed by traders to ensure smooth sailing of their trades or exchanges. Hence one cannot have a trade unless he/she is permitted to do so.

This simply means that the control of an account rests within the domain or hands of the user in a decentralized exchange and the management of an account rest in the hands of a third party in a centralized exchange.

So before one goes into any of these types of exchanges, there is the need to know the differences between the decentralized and centralized type of exchange to choose the best form that suits him/her.

There are many differences between them and the most important one, to begin with, is “Protection of capital”. Is very important to know among the two as to which one if you go into will ensure the safety of your investment or capital.

Hence with decentralized exchange works on many servers within the blockchain making it difficult for hackers to have access to your account.

Whereas a centralized exchange, which works under one server is prone to hackers stealing your funds or investment. Therefore making a decentralized exchange more secured and safe than a centralized exchange.

Secondly, verification is another basis on which decentralized exchange differs from a centralized exchange.
Thus, in a centralized exchange, there is the need to verify your documents before you can be allowed to perform any transaction activities.

But with a decentralized exchange, an individual can perform any transaction(trade) of his/her choice at any point in time without any verification of documents. Hence making centralized exchange difficult or tiring to use.

Notwithstanding that, some fees are applied to an individual trades in a centralized exchange. Meaning one has to pay fees for any trade to proceed according to the rules governing such centralized exchange.
But with a decentralized exchange, no fees are applied to trades. Hence making the trader have something to save.

In addition, a centralized exchange has more features that enable traders, especially new traders to trade easily while it's difficult in that of a decentralized exchange. Features are user-friendly and helpful and hence making trading much easier for the user under a centralized exchange.

Liquidity is also an important component as far as the differences between a decentralized and centralized are a concern.
There are lots of trading volumes in a centralized exchange when compared to a decentralized exchange since most buyers do not hesitate to trade in a centralized exchange.

TWO BEST CENTRALISED EXCHANGE OF 2021

They are various types of centralized exchange made available to help individuals perform daily trading activities securely and successful. And among them include, Binance, Coin Base, Bittrex Global just to mention a few.
Now to the 2 best Centralized Exchange of 2021 is Binance and Coin Base.

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Now Binance

This is a Centralized Exchange that provides a platform for various both buyers and sellers all over the world to perform crypto transactions in a more convenient, safe, easy, and lucrative way.
Exchanges take fees for all transactions with regards to buying and selling of crypto or fiat, however, Binance fees are part of the lowest fees in the world.

With regards to security, Binance is the best.
All though all other exchanges have a way of ensuring that the funds of their customers are safe, Binance still has the best reputation because they take their security seriously. Besides that, its Escrow services ensure trading without challenges/difficulties/lapses.

There It ensures that your funds are kept safe in a wallet, but rather you are given an account to be able to access your funds whenever you want.

Also, Binance has all the best-listed cryptocurrencies on its platform which enables buyers and sellers to have access to these coins and to trade with them anytime and anywhere.

With Binance Exchange, trading among buyers and sellers are always safe because of the delivery of coins bought and the receiving of funds after selling crypto or fiat takes a little or no time to complete. Hence making Binance Exchange be recognized for its high speed when it comes to trade execution.

Is in Binance Exchange that one could have his/her crypto operation because it has explored more ways for buying and selling crypto assets beyond the normal/usual platforms.

Pending Verification

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Now Coinbase

Coin base is just like the Binance platform which also ensures secure buying and selling as well as strong/holding cryptocurrency. And it is also considered or regarded among the top cryptocurrency exchange in the US. It makes transactions too very quick as well as it's features are user friendly.

screenshot of my Coinbase account

How to install MetaMask

Open your play store and then search for MetaMask and click on get

after downloading then you click on open

Thank you for reading through

Once again regards to Professor @yousafharoonkhan

#steemitcryptoacademy #yousafharoonkhan-s2week3 #steemexclusive #ghana #cryptoacademy