Centralized exchanges vs Decentralized exchanges

Centralized exchanges are trading platforms that function like traditional brokerage or stock markets,
transactions are being controlled by the owners of the exchange. On centralized exchanges users do not have access to their
private keys. They are managed by one central body which makes them vulnerable to hacker attacks.

Decentralized exchanges DEX is trading platform that operates without central authority. They are
utilizing blockchain technology. Decentralized cryptocurrency exchanges have been designed in order to protect funds from being
stolen, users have control over their funds.

-Currently, on the cryptocurrency market, about 99% of transactions are being handled on centralized exchanges.
-DEX have high level of privacy, transactions are anonymous.
-Centralized exchanges have higher liquidity and higher trade volume compared with DEX.
-Centralized exchanges allow users to exchange fiat for crypto-currency and vice versa. DEX only accepts payments
in crypto-currencies.

I have actually never tried a DEX before. Are there any viable ones right now? Many of them have abysmal liquidity… That’s my biggest issue with them.

What I’m unsure about is whether the liquidity is due to the networks unable to process the DEX/being too slow, or if it’s just a matter of preference. Could anyone shine a light on this?

They are both illiquid and slow due to orders having to be registered on the blockchain (last I checked). For example, an order has to be in place for ten minutes before it can be cancelled. This makes HFT non-existent and arbitrage near pointless which reduces the liquidity. This is atleast what I know from a good discussion I had with an algo designer for Radar Relay about a year ago.

EDIT: https://cointelegraph.com/news/0x-dex-protocol-suspended-because-of-vulnerability-funds-safe

Perhaps that only pertained to ZRX