Are you tired of centralized cryptocurrency trading platforms? - page 3.

xIIImaL

legendary

Activity: 1372

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Quote from: fudster on October 09, 2018, 06:29:36 AM

I'm a fan of forkdelta I have used it for several times buying some undervalued tokens there, there is something to work on the user interface because its not user friendly. The only thing you might dislike the decentralized exchange is that there is no USDT on it. You would have to be the most experienced trader to profit from the DEX is that is the case. Traders want profit, without the stable coin like tether, it would be harder for someone to earn.

You want to stay with BTC or USDT. In crypto Industry no one would like to go with the USDT for final level of convertion or holding purposes as I know people go with bitcoin or ethereum to hold and grow well with it.

Organizing the fund with the same value alone you may prefer USD. Then i would like to vote for decentralized wallet and exchanges since very flexible and no middle man in front of anyone.

krassy

member

Activity: 476

Merit: 19

Exchanges are growing like mushrooms after rain, each month offers new, but there is not a single exchange,which would like to everyone. Centralized offers more reliable ways to protect and guarantee the safety of our funds, and decentralized advertise guarantees of your anonymity. In any case, only you are responsible for your money and a rare exchange will return you the stolen data and your money. I propose to wait a bit when there will be a more reliable technology of trade, anonymity and safety of our crypto-money.

fudster

sr. member

Activity: 1190

Merit: 255

I'm a fan of forkdelta I have used it for several times buying some undervalued tokens there, there is something to work on the user interface because its not user friendly. The only thing you might dislike the decentralized exchange is that there is no USDT on it. You would have to be the most experienced trader to profit from the DEX is that is the case. Traders want profit, without the stable coin like tether, it would be harder for someone to earn.

rancidgash

hero member

Activity: 735

Merit: 500

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

You say that centralised exchanges are easy to use.. Yep, they usually have nice dashboard and you can quickly learn how to use them.
However, there is a new, big problem. Governments require from centralized exchanges a very accurate user verification and control of financial flow. It is expensive and take a lot of time. It seems to me, that in a short time, users will prefer to use decentralized exchanges rather than wait for weeks to verify the documents, or pay still higher and higher fees.

leea-1334

hero member

Activity: 2338

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Temporary forum vacation

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

Most people use it because it is easy, it does not change the way they behave online. People are used to : signing up for an account with an email, and password, that they can recover if they forget.

Ask yourself, how many crypto people actually know how to keep their own private keys. How many traders actually ever made a manual spend, put up the fees, sign the transaction and broadcast? Probably very very few. These guys are just speculators. Traders and what not. They are not interested in crypto or blockchain. If leaves and stones one day can go x1000, they will trade leaves and stones on a platform. Guaranteed.

WalletPlus

copper member

Activity: 94

Merit: 1

Decentralized exchanges are interesting, but that means no regulation, and you saw what happened to Bitconnect, decentralized exchanges can be a double-edged sword. And average Joe doesn't even understand bitcoin, now start explaining why we need a decentralized exchange.

brituspol

sr. member

Activity: 458

Merit: 250

From nothing to nothing

Quote from: ashsh on October 09, 2018, 12:08:48 AM

Quote from: yla1974 on October 06, 2018, 04:22:17 AM

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

Trading on any exchange involves huge risks. It does not matter whether the exchange is regulated or decentralized, although the latter does not exist. Exchanges are needed to conclude transactions, safe you money on cold wallets. This is the only way out.

I disagree here. Decentralized exchanges where they store your funds on the blockchain and are open for all to see are ideal I believe. I came across a project called Blockchain Board of Derivatives (BBOD) that does just that. Centralized matching engine paired with a decentralized custody. I think this is a killer combination.

Another killer combination is owing part of said project and advertising it as a viable option, while talking about it as completely unrelated to you

ashsh

newbie

Activity: 6

Merit: 0

Quote from: yla1974 on October 06, 2018, 04:22:17 AM

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

Trading on any exchange involves huge risks. It does not matter whether the exchange is regulated or decentralized, although the latter does not exist. Exchanges are needed to conclude transactions, safe you money on cold wallets. This is the only way out.

I disagree here. Decentralized exchanges where they store your funds on the blockchain and are open for all to see are ideal I believe. I came across a project called Blockchain Board of Derivatives (BBOD) that does just that. Centralized matching engine paired with a decentralized custody. I think this is a killer combination.

oogabus

newbie

Activity: 3

Merit: 0

Infact I feel more safe with centralised exchanges, the rules and regulations makes it more safe for all activities. Though I am not a lover of those scrappy centralized trading platform with high fees

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

How can be so sure with this line? because most trader do use up centralized exchange doesnt mean they dont know how to use DEX? I dont think so, i do rather believe that most people do know how to use that if not then using dex arent really to technical even having an average knowledge on how crypto works will definitely get the idea on how to use up. I know how it feels on going contrary on how should crypto be but dealing with fiat transactions you wont really have any choice.

reactorjuno

member

Activity: 322

Merit: 43

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

What is the name of the decentralized platform you are using? Would be good to share if you do not mind.

I confess that I have tried any decentralized perform since I have only a small amount to trade Bitcoin and Ethereum at Bitstamp. There is always a risk of scam, but in the case of Bitstamp it's been reliable and I love their rates and the liquidity available.

The most serious issue however is the possibility of a big hack like it happened in South Korea. I guess that's why more and more people just like you, are going for decentralized exchanges.

Oregano012

copper member

Activity: 238

Merit: 1

Institution money or the big money will always use Centralized Exchange unless someone came up for a high end Decentralize exchange but i doubt. they will still used Centralize and volume for centralize exchange has huge liqudity compare to Decentralize EX now . as of now one of the most used Decentralize EX is IDEX volume there is only 0.2% of binance total volume , yes there is still a use case for IDEX like buying under valued coins or atleast before it hit major exchange cause some will still stay away from idex

MP_SI

copper member

Activity: 70

Merit: 1

Tell the truth – or, at least, don't lie!

But I think if exchange is regulated you can trust it to some degree. Decentralization doesn't save you from scam and other things as we see that people loose more money in crypto than in other fields.

yla1974

sr. member

Activity: 700

Merit: 380

Quote from: juwon55 on October 06, 2018, 02:49:59 AM

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

Trading on any exchange involves huge risks. It does not matter whether the exchange is regulated or decentralized, although the latter does not exist. Exchanges are needed to conclude transactions, safe you money on cold wallets. This is the only way out.

BoxerRobert

copper member

Activity: 350

Merit: 0

I Scammed some amount of crypto Currency in centralized exchange only.
The name of the exchange zebpay from India. A few weeks back they stopped their exchange service .
Now am trust only de centralized exchange.

juwon55

newbie

Activity: 25

Merit: 0

Most crypto traders make use of centralized trading platforms, like Binance, Bitmex, Poloniex, Bittrex etc… The hype around these platforms made it appear to most guys in the cryptospace as the only available option, very small percentage of the crypto traders population have an idea on how decentralized trading platforms works.

Obviously centralized trading platforms are easy to use and all that! , but that’s not the best the technology can offer, I believe the future lies in decentralization, with that we can achieve “maximum” security. Personally i trade on a decentralized platform, because i got tired of the issues surrounding the centralized systems.

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