Security:

Main difference between centralized Exchange ** (CEX) ** and a decentralized exchange ** (DEX) ** is the custody of the users funds.

In an exchange like Binance.com or Bittrex.com the customer of the exchange deposits to his deposit address
on the exchange. Those coins and tokens are held by the exchange who have access to the wallets.
This is problematic as it requires trust from the user. The exchange can do with your money what they want because
they hold the private keys to those funds. Even if their intent is honest there can be a leak of data , a hack or
an insider might decide to take funds from the exchange.

Centralized exchanges can offer benefits to Dexes in having more tradeble crypto assets and
much higher liquidity and volumes.

It would be good to see more usage of Dexes in the future and I believe we are headed that way.

Decentralized exchanges like McAfeedex.com and Uniswap.exchange are different in that the user always holds his own
funds! They are never held by anyone else who could run away with them. User can access trading via his own wallet
like a Metamask for example. Even if the website of a DEX would not be available for some reason- it is possible to
execute trades (albeit it would require some expertise). The website functions as an easy to use user interface UI.

On Cex = you are ** NOT ** in control of your funds
On Dex = ** You ARE ** in control of your funds

Dexes offer FREEDOM to a person who can: despite their geologic location , ethnicity, religion, requiring no permission
from anyone, can't be denied by anyones whim or by any other trait imagined or real that can lead to unequality or denial
of financial services which should be available to everyone as a Right of an Individual!

On a centralized exchange the trading happens inside the exchanges own databases.
On a decentralized exchange the trading is done via smart contracts and the trades are happening and
being recorded into the blockchain.

Users make offers and send coins/tokens and the smartcontract will immutably and
trustlessly swap assets between users accounts.

trading:

Check the contract address, as there can be several tokens with the same ticker.

** Midas Gold ** can be found here https://mcafeedex.com/#MDG-ETH
( custom token 0xd8fcab3cb8c766ea1ae85c624c650588958f9666 MDG decimals=3 )

1.sign in to your Metamask
2.connect to McAfeeDex
3.Click balance tap on the website to add funds
4.Now you're ready to trade

There is a fee for a trade and sometimes a trade might Fail as the fees were too small. Just adjust a little bit more
and try again.

Trading is pretty similar on most Dexes.

Uniswap has a bit of a different system and uses liquidity pools instead of a traditional orderbook.
Anybody can add liquidity and even get their portion of the trading fees!

Maybe we'll dwell on that and many more wonderful things of the blockchain on another part of the King Midas
Blockchain Lycaeum series.