Decentralized Exchanges - page 11. | Bitcointalksearch.org

Greeenmtn

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Quote from: Bonwin on January 31, 2019, 08:01:33 AM

Quote from: jeromix on January 31, 2019, 06:15:00 AM

There are so many Decentralize Exchange and I have some question with the exchange like this. Is there any chance that the crypto being deposited will be hi jack and taken out from the hacker just like what centralized exchanges had been experiencing into? THere are hi jacking happens on some centralized exchange so if the decentralized exchange will not be easily hijack then decentralized exchange is the future of crypto exchanges.

When using any exchange, decentralized in this case, you need to ensure they already have a track record of trust, most especially. Take for instance, there are quite some number of well known decentralized exchanges that have been able to build trust in the mind of users for quite some time, coupled with the fact that they cannot be easily hacked.
Since the team can be trusted to make the system fully decentralized, which means your private keys are not being stored, then you need not fear an hijacker or someone hacking the system, because it will be the hardest thing to do. The only exception will be if you are clicking on a phishing site.

I would argue that the non-custodial aspect of DEX's is just table stakes. Meaning, that it is a given that a DEX can't steal your funds. The harder part is making sure the operators of the exchange are not colluding with other traders, allowing front running, or skimming a few pennies on each trade. It's great that we can't be pickpocketed, but there are so many other ways an exchange needs to be secure.

truxton

hero member

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I invite you to try Block DX. The most decentralized exchange out there. Trade directly wallet to wallet.

https://blocknet.co/block-dx/

https://blockdx.co/

https://bitcointalk.org/index.php?topic=829576.9100

fortunecrypto

legendary

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I did not know that we this many Decentralized exchanges, honestly I seldom exchange on this kind of exchange, but it's more preferable for people who do not want to go through KYC, but unfortunately, some top coins in the market are not tradeable there.

Bonwin

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Quote from: Caladonian on February 06, 2019, 10:34:54 PM

Quote from: wayaneka on February 06, 2019, 10:24:25 PM

Quote from: Natalim on February 06, 2019, 09:36:21 PM

Thanks for making an effort, kindly keep this updated as overtime decentralized exchange will grow.

Currently centralized exchange is more popular than decentralized exchange that why decentralized less demand and has low liquidity. But with safety reason more people will prefer to choose decentralized one. Some centralized exchange was get hacked, so decentraized one is the solution because offer more high level of security. Put coins on centralized exchange is mean we are not really to be own that coin because we dont have the private key, but for decentralized one we have full control with the account and we get the private key.

If this can be learned by more traders decentralized will be more used than centralized exchange, the fact that after sending your coins inside centralized exchange you always have fear that it might be hack or the owners can possibly freeze your accounts as KYC always been needed especially if you have huge amount of coins, this topic is important so OP's updates will help a lots of newbies and those who also be inspired to use decentralized platform.

Security is a necessity and one of the most essential part of trading. I check on this thread everyday and I am encouraged by the responses of people. Updating the thread will be a thing of joy and fulfilment to me, most especially seeing that people are helped. Also, whoever notices at lunch of a good decentralized exchanged, should try as much as possible to notify me for update.
I am also keeping my eyes glued on some decentralized exchanges that are preparing to lunch with better features.
Just today, another decentralized exchange called CDEX has been added and more are coming up.

baghdatis1990

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Activity: 504

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Miracle Tele

The idea is that people choose to invest on exchanges that have had many promotions and exchanges that have not been hacked. As you say, most decentralized exchanges have low liquidity, and people are afraid to keep their money on such exchanges. Potential investors want to have security in their investments. It's just like at the bank. You want to keep your money at better-known banks, because that gives you some comfort.

killat

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Be the reason someone smiles today

You should learn a lesson from what happened to QuadrigaCX and stop keeping important amounts of crypto into exchanges.

According to his wife, the CEO died of (unexpectedly?) of Crohn's disease which btw must be a living hell to have.

And somehow, the investors never had a contingency plan that included a second or third person having access the vault keys. Brutal mistake.

Aldrinx00

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This is a good source of information for new ones in cryptocurrency who want to learn about decentralized exchanges its advantages, disadvantages and how it works. I never knew there we're so much decentralized exchanges out there, i will definitely check it out. Thanks.

Caladonian

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Quote from: wayaneka on February 06, 2019, 10:24:25 PM

Currently centralized exchange is more popular than decentralized exchange that why decentralized less demand and has low liquidity. But with safety reason more people will prefer to choose decentralized one. Some centralized exchange was get hacked, so decentraized one is the solution because offer more high level of security. Put coins on centralized exchange is mean we are not really to be own that coin because we dont have the private key, but for decentralized one we have full control with the account and we get the private key.

If this can be learned by more traders decentralized will be more used than centralized exchange, the fact that after sending your coins inside centralized exchange you always have fear that it might be hack or the owners can possibly freeze your accounts as KYC always been needed especially if you have huge amount of coins, this topic is important so OP's updates will help a lots of newbies and those who also be inspired to use decentralized platform.

wayaneka

full member

Activity: 644

Merit: 101

Currently centralized exchange is more popular than decentralized exchange that why decentralized less demand and has low liquidity. But with safety reason more people will prefer to choose decentralized one. Some centralized exchange was get hacked, so decentraized one is the solution because offer more high level of security. Put coins on centralized exchange is mean we are not really to be own that coin because we dont have the private key, but for decentralized one we have full control with the account and we get the private key.

Greeenmtn

copper member

Activity: 42

Merit: 0

Quote from: electronicash on January 30, 2019, 07:56:25 AM

the list goes on and on. I never heard of the rest because the only I've tried are the ones being discussed here like forkdelta and etherdelta. decentralized exchange however aren't friendly enough, it took me hours to finally learn how it works. non o the two that i've tried loads fast, both took time. but yes, they say dexes what is going to be used for safer trading.

The Gluon Plasma protocol will allow exchanges to be noncustodial, yet have smooth and easy interfaces, and trade at the speeds of centralized exchanges.

Greeenmtn

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Quote from: trash321 on January 30, 2019, 07:55:18 AM

Exchanges that today call themselves decentralized may in any case be centralized as well. Maybe it will be possible to make it so that today there is a sense to really increase the level of trust in decentralized exchanges? What do you think?

Increase all the way to trustless! Think of being in control of your coins without these hassles: gas fees for every trade, gas fees for every cancel, signing every order manually, confirmations needed for orders to be accepted, confirmations required for fill before you can exit a position, front running by miners, front running by exchange operators, system unresponsive when network is congested. Check out LEVERJ, launching soon.

Natalim

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BTC to the MOON in 2019

Thanks for making an effort, kindly keep this updated as overtime decentralized exchange will grow.

Greeenmtn

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Quote from: Reid on January 30, 2019, 04:49:36 AM

Merits for the effort into compiling all of these.

I did not know there is that much decentralized exchange by now.
There is one problem though, most of them do not have the volume.
Selling and buying are mostly done now with those popular exchanges. Most of them are centralized.

So who will put those decentralized exchange back in the frontlines. We can, but are we really going to put that effort to make them known?
I just know IDEX, Etherdelta and Waves.

I think LEVERJ.io has a good chance at being the DEX at the frontlines. It is coming off of testnet this month, it is high speed with decentralised custody, secured by fraud proofs.

J-N

member

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Merit: 13

I am impressed with your useful thread, OP. Good work.

Quote from: Bonwin on January 29, 2019, 11:52:55 AM

5. Presence of Actual Volume: Unlike most centralized exchanges where bots are used, there are no bots on decentralized exchanges. This invariably means that you will know the actual volume being traded.

Not always. On decentralized exchanges some traders occasionally sell crypto-currencies to themselves in order to show fake price transactions to other people or due to personal reasons.

Quote from: Bonwin on January 29, 2019, 11:52:55 AM

4. Low liquidity: Due to lack of awareness, some decentralized exchanges experience low liquidity, but we are gradually tending towards that time, where liquidity will not be a problem.

Yes, this is a big disadvantage of DEXes. Perhaps it is possible to securely aggregate all the liquidity of such exchanges into one large pool but in this case a customer must have a deposit on each of these decentralized exchanges.

cryptomaster420

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Quote from: Leah38 on February 06, 2019, 06:46:43 PM

Thanks so much for all this information. I prefer using some of these exchange because its easier to trade there. Will save this thread for future use. Some of the exchange listed are new to me so I'll try using and trade there too. Your information helps a lot.

Good point about saving the thread - those exchanges are likely to dramatically improve in the next 1-2 years, so hopefully with better UX they can also increase their user count.

pedpedped101

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Quote from: Gary Levanevskii on February 06, 2019, 06:22:32 PM

Quote from: Alohadanc3 on February 06, 2019, 06:06:03 PM

I think in upcoming future decentralised exchange will be the more usable than centralised one . Cause decentralised is the future and will live for long. At this moment the liquidity on decentralised is not that much good and this is one of the main problem. And one other problem is it's not easy to use like centralised exchange it's is a bit complex than that. That's why people don't like to use. And there is a lot of coins available in decentralised which is a plus point and a negative also

I think that it will be difficult for decentralized exchanges to compare with centralized convenience and liquidity. Moreover, decentralized exchanges are underdeveloped now.

We cannot yet conclude on that. Even if it is for one reason that will make so many crypto enthusiasts to switch over to decentralized exchanges, which is security, they will.
In a way, I am just certain that decentralization sustainability might not be evident now, but very soon, it will.

Leah38

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Activity: 1078

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Thanks so much for all this information. I prefer using some of these exchange because its easier to trade there. Will save this thread for future use. Some of the exchange listed are new to me so I'll try using and trade there too. Your information helps a lot.

dosSantos

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Once it seemed to me that all the exchanges would become decentralized. But now I understand that this is impossible. It seems to me that the government will not allow this.

Impaler

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This whole ecosystem is created for this one thing that is decentralisation. But at this moment when it comes to exchange it's a about the centralised market. But I like decentralised exchange there is some really good point on a decentralised exchange like fees structure or the security. The most liked part is I think security. Cause now and then we saw many hacks on centralised exchange and that's not good. But there is some major problem in decentralised exchange and the bigger one is liquidity we need many people on exchange to have more liquidity and by time it will increase.

Gary Levanevskii

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Quote from: Alohadanc3 on February 06, 2019, 06:06:03 PM

I think in upcoming future decentralised exchange will be the more usable than centralised one . Cause decentralised is the future and will live for long. At this moment the liquidity on decentralised is not that much good and this is one of the main problem. And one other problem is it's not easy to use like centralised exchange it's is a bit complex than that. That's why people don't like to use. And there is a lot of coins available in decentralised which is a plus point and a negative also

I think that it will be difficult for decentralized exchanges to compare with centralized convenience and liquidity. Moreover, decentralized exchanges are underdeveloped now.

Topic: Decentralized Exchanges - page 11. (Read 3366 times)