Many Centralised Exchanges (CEX) are the present and the past, Decentralised Exchanges (DEX) and a limited number of CEX are the present and the future

That is my strong conviction after being fulltime active in crypto for more than 6 years

Today most people trade on CEX, mainly because
- it is easy,
- for Ethereum tokens the transaction cost is often lower on a CEX than on an Ethereum DEX
- it offers a gateway to banks
- it offers access to crypto debit cards

But an important number of CEX have disadvantages/risks :

- Not your keys, not your coins : your coins are stored in the wallets of the exchange, not in your wallet. A CEX can be hacked & at least 30% of the medium/small exchanges "disappeared" in the last bear market with the funds of the traders (exit scams, hacks, blocking withdrawals, ...).
Also medium/small exchanges connected to some major exchanges are guilty of these practices (for example BitGlobal/Bithumb Global founded by Bithumb Korea is blocking all withdrawals for more than a year already)

- Some CEX do not behave ethically and manipulate the market : they extremely exaggerate their daily trading volume, they manipulate trading to favor certain coins, they front-run trading transactions of normal traders on their exchange to make arbitrage profits, ...

- Some CEX asks insane high listing fees which are not justified by their organic (non-inflated) daily trading volume.

- Some CEX have no licenses for every region/country they are active in, but they accept traders from that region/country. When the local regulator starts taking action against the CEX, often those CEX close access to the exchange for the traders of that region with short or no notice, without giving all involved traders the possibility to withdraw their funds

- Some CEX have a listing department that behaves unethically : they delist projects that do not want to inflate trading volumes or to pay additional recurring fees to stay listed

What is the better solution these low-quality CEX ? DEX are, together with the TOP quality CEX

DEX exchanges are evolving extremely fast and so do decentralised wallets.

DEX allow you to trade nearly every token, and combined with a proven decentralised wallet those DEX offer you a safe access to advanced functions that in the past were only available on CEX : fiat gateways (on/off ramp), debit/credit cards, ApplePay/GooglePay/SamsungPay

For nearly all coins (major exception being Bitcoin) a DEX is already today a better trading alternative than those lower quality CEX

Of course not ALL CEX share those risks
When trading on a CEX : be carefull, perform a detailed due dilligence to make sure you are working on a safe and ethical CEX, with sufficient proven and documented financial reserves to survive an unexpected setback

Trade on Binance or one of the limited number of other CEX that follow the same ethical rules & safety standards ... Stay safe