Centralized Exchange vs Decentralized Exchange

What is Centralized Exchange?
Centralized Exchanges are online exchange platforms used to swap / buy and sell cryptocurrencies that function like traditional brokerage or stock markets. Centralized exchange users don't have access to the private keys of their exchange account's wallets. In accordance with its name "centralized" which means that there is a central organization company that acts as a third person to store user assets, regulate the exchange rules, and charge exchange fees. This puts all of the user's trust in the hands of the exchange operators be made through the mechanisms provided and approved by a central authority. List of some famous Centralized Eaxchange: Binance, Bibox, Bit-Z. BitStamp, CEX.IO, Cobinhood, GDAX, Hitbtc, Huobi, Bittrex, Bitfinex, Kucoin, Livecoin, Coinbase, Kraken etc.

What is Decentralized Exchange?
Decentralized exchange (DEX) is a cryptocurrency exchange that is operated without a third party or central authority, which allows peer-to-peer cryptocurrency trading or trade between users. In a decentralized exchange system reducing the risk of theft from hacking exchanges also prevents wash trade so that there is almost no manipulation of price or fake volume. Trading or crypto transactions are controlled by automated processes that are carried out with smart contracts. Decentralized exchange uses blockchain technology, so it is safe to exchange cryptocurrency without the need for third party assistance. Basically the platform acts as a service that connects trading orders with each other to serve customers who want to exchange cryptocurrency (coins or tokens).

List of Decentralized Exchange

Centralized Exchange vs Decentralized Exchange

Conclusion
The conclusion is that despite having the same function, namely for cryptocurrency exchange, the two types of cryptocurrency exchange have a very significant difference. After seeing the difference between centralized exchange and decentralized exchange, and the advantages and disadvantages of both, we can find out which exchange we want to use.