Both centralized exchanges and dex arent perfect - page 3.

nightflightcourt

jr. member

Activity: 322

Merit: 2

Quote from: Dariusburst on December 03, 2020, 03:49:52 AM

Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

Check out Stakenet's L2-based DEX. All the security benefits of a DEX with the convenience, speed, low fees, and sleek interface of a CEX.

It utilizes Lightning Network (LND) and Connext to allow for instant off-chain atomic swaps and combines all this infrastructure with a pro trader DEX and a Uniswap-like UX that automates everything involved in executing the swaps. Fees are drastically less than they would be with on-chain atomic swaps. You don't have to download individual blockchains, use metamask, or do any complicated setup. Just download the wallet, let LND sync, and your BTC/LTC is ready to swap after 2 confirmations. In terms of speed, the experience is on-par with CEXs.

I have accounts on multiple CEXs and at this point I'm finding that DEX to be faster and more convenient than any of them. Grin

royalfestus

hero member

Activity: 2464

Merit: 519

Quote from: Dariusburst on December 03, 2020, 03:49:52 AM

lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

I dont think people care about the interface if their trade succeed, Idex had a good interface until they swap position.
Uniswap at a point had as more trade volume to be the second trading exchange on the overall exchanges in last few months
More decentralized exchanges are coming like binance came at the last bull market. Something better will come at a point that will give more concern to traders' interest and profit, if this happen except for multiblockchain centralized exchange may struggle at its advent

aryana42

sr. member

Activity: 1190

Merit: 251

Quote from: Dariusburst on December 03, 2020, 03:49:52 AM

Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

I think the two places that you have mentioned are enough for everyone who wants to run, because everyone has different needs in crypto, because sometimes we have to use a centralized exchange because the tokens are only listed in it, and vice versa, so both are still very good needed for now.

montaga

sr. member

Activity: 608

Merit: 264

Freedom, Natural Law

There is third choice
Ultimate Brokerless, Noncustodial, Leveraged Derivatives Trading https://tdxp.app/
Not only crypto but stocks, commodities, indices and forex trading as well. Only crypto operating 24/7
No trading fee only "holding fee" (per started 8 hours*) and money stays in own wallet
Trades with as little as 1 cent and 20x leverage
Dark mode, terms, options... top right corner
Not for US, Canadian, Swiss, Iran, North Korea.... users
* different market, different price for example Tesla TSLA (NASDAQ) Holding Fee 0.009946% per 8 hour

sulis sudibyo

member

Activity: 882

Merit: 11

Volare.network

Quote from: Dariusburst on December 03, 2020, 03:49:52 AM

Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

There is no other choice. You have to choose DEX or CEX, there are only these two options. the most important thing you have to know what your goals are, if you want to become a daily trader. CEX is a great choice. You will not be burdened by very high transaction fees for every order you make. different if you only want to sell coins once in a while. DEX is the right choice, what's more that the coin doesn't have an official market.

so understand in advance, what you want to do. then you can choose which one you want to use.

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: Novatech8 on December 03, 2020, 05:21:29 AM

You need to use both CEX and DEX to understand and choose which one is better for your need, I've used both and I'm still more into centralized projects for few reasons, the only thing DEX get better with is security, users are in total control of their funds but every other things aren't to satisfying

At the end of the day, it is up to the user which one he will use to trade with. There are pros and cons on both sides. And you will be the one to assess which one really suits your needs at a particular situation. Because for example, not all the time that DEX has the coin that you want to trade with and it is only found in CEX. And admit it, most of the time, there is no trading volume in DEX. Both types of exchanges are not perfect, but it is on you how you will lessen the potential screw up of your privacy. Submit your KYC only when necessary and make sure the site is legit, not to those never-heard exchanges.

Novatech8

member

Activity: 700

Merit: 27

Sovryn - Brings DeFi to Bitcoin

You need to use both CEX and DEX to understand and choose which one is better for your need, I've used both and I'm still more into centralized projects for few reasons, the only thing DEX get better with is security, users are in total control of their funds but every other things aren't to satisfying

bluebit25

sr. member

Activity: 1708

Merit: 295

https://bitlist.co

Quote from: Dariusburst on December 03, 2020, 03:49:52 AM

Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

As you can see, both CEX and DEX have their own problems which i think are the ones that i think make up for the user. Obviously when you use a service you will always get asked to accept their rule. The problem i have is that i find it a bit inconvenient to use on DEX the fee is usually very high (uniswap).

joseyphil82

member

Activity: 742

Merit: 16

Quote from: SaRmY on December 03, 2020, 04:23:31 AM

Yes, with exchanges in general, everything is ambiguous. Decentralized ones are also very convenient. If you want to trade, go to the centralized one. If you want to exchange, go to Dex. You say the commission is high? Is it lower for centralized exchanges? I'm attracted to Dex only by its simplicity. Entered exchanged forgot. No authenticators, passwords or phone verification.

I like that some multi wallets already have auto swap. Quickly exchanged coins inside the wallet and sent them where necessary. It's a pity that new projects get into such wallets for an extremely long time.

Presently DEX fee are higher than any top exchanges I know, many are already complaining about this and some stop using DEX because of this high fee, also DEX isn't that attractive and dashboard can be confusing for new users, DEX platforms need to learn alot from CEX

SaRmY

full member

Activity: 645

Merit: 100

Yes, with exchanges in general, everything is ambiguous. Decentralized ones are also very convenient. If you want to trade, go to the centralized one. If you want to exchange, go to Dex. You say the commission is high? Is it lower for centralized exchanges? I'm attracted to Dex only by its simplicity. Entered exchanged forgot. No authenticators, passwords or phone verification.

I like that some multi wallets already have auto swap. Quickly exchanged coins inside the wallet and sent them where necessary. It's a pity that new projects get into such wallets for an extremely long time.

TanakabZX

member

Activity: 504

Merit: 16

Nothing is ever perfect in this space, you should just choose whichever works better for you, as for me I'm not ready to risks my data so on that part you can avoid not giving centralized exchanges your information, you can still trade on binance with no KYC, the fact is centralized exchanges have more advantage over DEX, the choice is yours

Dariusburst

member

Activity: 182

Merit: 10

Centralized exchanges can easily expose users data but they have the best platform for traders, highest volumes etc and on the other hand Decentralized exchanges have nothing to do with users data, pretty more safer than centralized exchanges but lacks good interface and also has high trading fee and of course lacks good volume, is there any where else to run to ?

Topic: Both centralized exchanges and dex arent perfect - page 3. (Read 605 times)