The crypto space can be cruel if you don’t learn the ropes properly before venturing into it.
Often times, depending on your mentor, some newbie would rather choose the convenience of a centralised exchange for their trading. However, as indicated in my previous topic, CEXs are great, transactions are fast on them and they are convenient to use. But they come with huge risk such as hackers attacks, bankruptcy and the main fact that your asset is not in your control. This constitute a huge risk .
DEXs on the other hand can be slow and cumbersome to use but they are less prone to hackers as the assets are help in liquidity pool managed by smart contracts. This means that there is no central location where you assets are held which can be attacked.
I view of the little simple understanding, I will recommend that a new trader should focus .ore on security and trade on DEXs amd learn the ropes on how to interact with DEXs than seeking the convenience of a Centralised exchange.
Where a new trader decides to use a centralised exchange, he or she must ensure they only leave assets when when lost cannot force them to file for bankruptcy.
I would not advice any newbie to use Dex to start trading because the use interface isn’t much friendly as if Cex such as binance or coinbase they assist newbie in executing trades so please to avoid been scam use Cex I mean (centralised exchange) to buy and sell your crytocurrency
aptonias