[EN]A small comparison of centralized exchanges with centralized gateways on the BitShares exchange.
# Good afternoon!
Very often there are disputes about the differences between ***centralized exchanges*** and ***gateways*** at the BitShares exchange. I decided to try an objective comparison. It may not be complete, because I do not use centralized exchanges in accordance with the principle.
##### Transparency.
On ***centralized exchanges*** there is no transparency. ***Gateways*** have partial transparency. You can see which coins issued the ***gateway***. To whom he sent these coins, etc.
##### Auditability.
On ***centralized exchanges*** there is no auditability. On ***gateways*** there is no auditability too. The exception is **RuDEX**, providing data on their wallets. Together with transparency it makes it possible to audit the operation of the gateway absolutely to anyone. **OpenLedger** also promised to give an opportunity to conduct an audit, but...
##### Variety.
On ***centralized exchanges*** only one ***gateway*** is the exchange itself, so there is no need to use prefixes. In **BitShares**, there are already 4 ***gateways***.
##### Confidence.
Both options require trust. ***Centralized exchanges*** requires trust for the entire trading period. ***Gateway*** allows you to at any time to go into the asset of another ***gateway***, **BTS** or **bitassets**.
##### Control.
***Centralized exchanges*** own both your cryptocurrency and the tokens that they give you in return. ***Gateways*** store only your cryptocurrency. The tokens they give you in return are stored in **your** personal account **BitShares**.
##### Transfers.
To transfer the cryptocurrency to someone at the ***centralized exchange*** you need to use withdraw. ***Gateway's*** tokens freely move between users for 3 seconds at any time of day.
##### Mobility.
In the case of closing withdraw on the ***centralized exchange*** you are very much limited in the choice of actions. In case of closing withdraw from one of the ***gateways***, you can take another ***gateway***.
##### Arbitration.
In ***centralized exchanges*** arbitration is accompanied by very high risks. ***Gateway*** here is clearly predominant. In addition to the classic arbitration on the exchange **BitShares** you can arbitration between the gateways.
##### Scam.
In the event of the closure of ***centralized exchange*** you lose everything at one time. In case of closure of the ***gateway*** you have some time to sell their tokens at least 50% of the price.
##### In my opinion - the choice is obvious. But each of you decides for yourself what to choose.
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