Topic: Are you tired of centralized cryptocurrency trading platforms? (Read 689 times)

it is clear that centralized exchanges lose in terms of security. However, so far no decentralized exchange can provide the functionality that is on the centralized exchanges.

I think most of the traders were looking on the security features and the liquidity volume of any exchanges as I think only a centralized exchanges like Binance, Bitmix and others has those features. Traders can find ways to find profits as long as their funds were safe on the exchanges. Risks is everywhere in crypto.

they didnt like you ? thats strange . hmmm , maybe your just trying to say that you dont like decentralize exchanges ? i am right ?  well most decentralize exhange do have a wide range support of erc20 coins when compared to the decentralize one , so i think they are much better if you are a bounty hunter or airdrop enthusiast but if your just a plain trader/investor and you mainly foccus on standard coins , then you'd better use the centralized one's since they are more stable and have a good volume .

Im use centralized cryptocurrency trading platforms more than 1.5 years and so far I am completely satisfied.Besides, I had the experience of using some decentralized platforms ERC20 tokens. They did not like me

I think the main issue here is that we are still in the beginning stage of implementing blockchain in our daily lives. We still get paid in fiat currency so we need a place to convert that to crypto... 

Even I am suggesting people go with the decentralised exchanges because once we attain the knowledge we can store them and we can sell them when we need some sort of money. There won't be any middle for dealing and converting our asset.

Now I do not see the need for new exchanges. We have enough of those that are already there. Anyway, there are practically no trading volumes on the market. Because of what there is no need for new exchanges.

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What a quality exchange you do seek of? We do already have those exchangers in the market as of now an i dont see for any add ups would be needed.
Exchangers that do become popular and gained too much volume will really go the the way to be centralized.It do already talks big volumes which equals to millions of dollars being transacted.
Even the government on where the exchange located from will definitely impose laws or even taxation if they find out.The good thing on having centralized is the security but talking
about crypto its not fully protected at all.

Large cryptocurrency exchanges have a very strong and dangerous impact on the market as a whole. To prevent this from happening, you need to use decentralized exchanges. Cryptocurrency was originally invented as a decentralized exchange system

We need more trading platform that are decentralized, after all that’s what blockchain technology was meant to solve, do you know that when you deposit coins to exchanges (eg. Binance, BitFlyer, Huobi, Kraken, Bittrex) they land directly into a wallet or wallets controlled by the exchange owners? The owners holds private keys (passwords) to the wallets where your coins are stored.

The problem with insolvency of centralized crypto exchanges is not known and it seems that the industry does not want to highlight it. This problem stems from the fact the centralized exchanges settle users’ funds only when they ask for withdrawal. This is the moment when the exchange physically sends coins through blockchain. Thus, it is difficult to assess if an exchange is solvent or not and this maybe a source of systemic risk in cryptocurrency markets.

Recently the concept of hybrid trading platform ( www.bbod.io ) arrived into the cryptospace where proprietary smart contract wallet system is implored this gives users possibility to create smart contract wallet designated for trading on platforms and nobody except the client has control over it. The platform reserves the limited right to settle clients’ trades daily via the system of smart contracts, that handles the flow of capital (eg. profit and losses from trading).

So far, we have a week of decent decentralized exchanges that could compete with centralized exchanges. however, work in this direction is already underway and I think that soon we will see a quality exchange.

We need to make use of what we have so the decentralized exchanges are very good but we don't have best decentralized exchanges yet so we can choose the best exchanges for trading now and in future more promising DEX will come into market which can provide better servce than the current one.

How much benefit do we have on decentralized exchanges? The volume is very modest, the base of traders is also lower. Although, I like the ease, speed and efficiency of the DEX. But by the time you do, you'll want to go out there and look forward to more promising exchanges.

A lot of exchanges right now are actually beginning to take safety standards and protocols seriously and trying as much as possible from their own end try as much as possible to stay secured which is also one of the reasons why a whole lot of them always make use of a cold storage when it comes to funds and only make the funds for withdrawal available at most times when such is implemented.

However, it is always very necessary that people should always take into account the use of 2FA to secure their accounts the more so as to be on the safer side to some extent. The fact remains that when it comes to liquidity, then centralized exchange is our only option most especially for bit traders, so you just have to understand the risks and try to minimize it.

Well, that is one of the reasons why you need to be putting your trading funds at least in a reputable exchange and as much as possible, try to always make use of the additional securities available and most of all, never put in an exchange what you cannot afford to lose, which is still more like not trading what you cannot afford to lose.

There is no guarantee when it comes to using centralized exchanges, but at the same time, we do not have any choice now for traders when it comes to this, considering the fact that decentralized exchanges are even still very far from being usable. In that case, I guess we are still going to be stuck with centralized exchange.

Any centralized exchange makes sense only when there is a third party that guarantees the safety of the work. And which all participants unconditionally trust. But the market is pretty wild right now. And giving your money to a centralized stock exchange is simply a work of trust, without guarantees. For those who understand, this is unacceptable. My choice is decentralized exchanges.

Really decentralized exchanges are safer because they work automatically. But all the existing major exchanges that trade shares today are regulated and their trading volumes are much larger than the crypto-currency ones. On such exchanges, investors are protected.

Centralized exchanges are safe and of course they are easy as well as most importantly they can be trusted without any hesitation. In case of decentralised exchanges they are a lot more riskier. At a certain point the trust as well as recognition matters to the traders which can't be gained by decentralised platforms.

Whatever exchanges we will use the risk is always there and we need to be careful when you have huge amount of funds in the exchanges as this is prone on hacking.

It is actually that convenience that has drawn a lot of people into making use of centralized exchanges, apart from the liquidity as well. One thing is that at least with a centralized exchange, I can easily make use of the APIs to trade directly on any other application which is something I am not sure we may be able to get when it comes to using decentralized exchanges and then varieties again is another bone of content as well.

I cannot be tired of something actually, when there is no other option available that is better than it, so maybe until we have another alternative to centralized exchanges with great functions that centralized exchanges offer and still decentralized, then maybe by then, I will get tired.

if it remains safe, I consider it no problem. but I'm sure decentralized exchangers will grow now see idex traders like trading there because it's fast safe and cheap transaction costs

What is a very good idea, seeing decentralized exchanges replace centralized exchanges? No one is saying it is not a good idea, but from what we have seen so far, does most decentralized exchanges actually have what it takes for regular users to be able to trade, when it comes to fast transactions or trade, when compared to centralized exchanges, when it comes to liquidity and when it comes to usability.

I believe if the usability aspect of decentralized exchange is solved, and they can at least go in par with the centralized exchange platform, a lot of users would prefer it and sure the liquidity aspect would be solved, but we definitely do not have that yet.

I am really tired from a system that promotes an easy entrance in the crypto world, but difficults the exit from it.
You can invest a million dollars in crypto in just one day, but most of the exchanges only let you take out the same amount of fiat in weeks or months... or never.

The system promotes an image that does not have, that is very easy of buy and sell. But in the end to buy is easy but to sell (convert to fiat) is not that easy at all...

I also would like to see decentralized exchanges where was simple to buy and sell altcoins, with alcoins and fiat; without the use of bitcoin or ethereum and the fees asked by exchanges.

Centralized will always be faster one way or the other and at the end, those who are regular traders will just have to find a way to trust centralized exchanges with their funds while making it an important thing to try as much as possible to make sure they at least take advantage of the security of the exchange.

From what we have seen for a while now, we can see how lagging most of the decentralized exchanges can be, the terrible nature of the user interfaces which sometimes I wonder how people even make use of it to make a trade easily and the fact that you won't really have that much of a flexibility compared to when you are making use of centralized exchange where you can either trade on the go via your mobile or use some applications.