Decentralized Finance vs. Centralized Finance: Which Is Better?

[Nomad]

Decentralized finance (DeFi) offers advantages over traditional banking as it gives complete control over your money. It also makes transactions faster, for instance to send $1,000 internationally via a bank it will takes 3-5 days and costs $20-$50. Through blockchain, the same transaction takes less than 5 minutes and costs less than $5. Therefore, I think decentralized finance is better

 

[magnus2022]

Decentralization finance have revolutionized finances and help to make transfer very fast and without stress. Decentralized finance have reduced banking institutions from exploiting and milking customers dry

 

[riberet19]

For me, decentralized finance or better known as DeFi is better than traditional finance, since it offers better returns and is faster as you say, but it is riskier in general, you have to know very well what you are doing.

 

[Suba]

DeFi or CeFi which is better will depend on each person's perception, because neither of these financial systems has absolute advantages, both have pros and cons, DeFi offers asset control to its owners but has high risks, weak regulations etc. while CeFi offers security, convenience and strict regulations. but the owner has little control, so neither is better.

 

[King Belieal]

I think to a large extent, I would prefer centralized finance. Scams might easily be traced with centralized financing which is not so with decentralized financing.