decentralized exchanges are safe? - page 2.

1Referee

legendary

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Merit: 1427

Quote from: Reid on July 17, 2018, 07:38:54 AM

Unlike Binance, equipped with a lot of traders the volume is so high you can sell high amount of tokens.

Problem? They know who you are. Grin

It's purely hype.

There will be a time where crypto will become like what the stock market is today, and that's exactly when we will see a full force shift from centralized to decentralized exchanges.

People right now are too blinded by greed to understand what dangers and risks they expose themselves to on centralized exchanges. Let them nurse their greed as much as they want right now, the market is still relatively free from proper regulations; once regulations form a strong barrier around exchanges people will start to ask themselves why they are allowing themselves to go through all this when they can avoid all that in a decentralized manner.

Dumb money today still uses exchanges. Smart money massively jumped into OTC trades.

Tynovten_

full member

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So far everything is still fine, when the exhange decentralization by using clever contact then it more make sure which coin will we sell. Sometimes there are many type of coins that same so makes ourself lack of sure of the truth.

Reid

hero member

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Decentralized.
One example is idex where you could trade tokens as much as you want under the smart contract.

The problem? Not much buyers and sellers out there. Just mere listing it and Voila let it be.

Unlike Binance, equipped with a lot of traders the volume is so high you can sell high amount of tokens.

Problem? They know who you are. Grin

yohan09

full member

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Quote from: maloibtc on June 06, 2018, 09:27:10 AM

I think that the question of safety depends on which exchange you mean. I like the one that is called Binance. There are many safe exchanges, which can successfully be used for trading. You should try it if you have never had

There are many exchanges sprouting in social media's but all of us are aiming for security, While the decentralization factor may be appealing, Its not too practical if there's barely anything to trade on an exchange and having to wait a full day for a transaction to complete kinda defeats the whole benefit of the blockchains speed in moving funds back and forth between currencies and accounts. However it does appear as though the platform has some prospect and could potentially be a great option if it works out the kinks.

kolfedinew

newbie

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Quote from: Princess04ka on July 17, 2018, 05:55:33 AM

Quote from: kolfedinew on July 17, 2018, 05:52:52 AM

Quote from: Crypto_Bro on July 17, 2018, 05:43:12 AM

Quote from: kolfedinew on July 17, 2018, 05:41:19 AM

Decentralized exchanges are safe and easy to use, just make sure that you don't give your wallet no to other people.

that's true. I used some to exchange ETH and everything was ok, no security issues

oh, I wanted to change ETH too, what's the exchange?

You can look this one up https://beta.streamdesk.io/dashboard, there is no commissions for no because it's beta

ok, thnx

Princess04ka

member

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Quote from: kolfedinew on July 17, 2018, 05:52:52 AM

Quote from: Crypto_Bro on July 17, 2018, 05:43:12 AM

Quote from: kolfedinew on July 17, 2018, 05:41:19 AM

Decentralized exchanges are safe and easy to use, just make sure that you don't give your wallet no to other people.

that's true. I used some to exchange ETH and everything was ok, no security issues

oh, I wanted to change ETH too, what's the exchange?

You can look this one up https://beta.streamdesk.io/dashboard, there is no commissions for no because it's beta

kolfedinew

newbie

Activity: 177

Merit: 0

Quote from: Crypto_Bro on July 17, 2018, 05:43:12 AM

Quote from: kolfedinew on July 17, 2018, 05:41:19 AM

Decentralized exchanges are safe and easy to use, just make sure that you don't give your wallet no to other people.

that's true. I used some to exchange ETH and everything was ok, no security issues

oh, I wanted to change ETH too, what's the exchange?

Crypto_Bro

jr. member

Activity: 185

Merit: 3

Quote from: kolfedinew on July 17, 2018, 05:41:19 AM

Decentralized exchanges are safe and easy to use, just make sure that you don't give your wallet no to other people.

that's true. I used some to exchange ETH and everything was ok, no security issues

kolfedinew

newbie

Activity: 177

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Decentralized exchanges are safe and easy to use, just make sure that you don't give your wallet no to other people.

suchi2591

newbie

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currently I am using centralized exchnage. I am stydying on DEx and now feels like these are best but never used them so have no idea.

Daniel9140

jr. member

Activity: 252

Merit: 1

Decentralized exchanges are good to the best of my knowledge as I have used a couple of Dex's and they are quite safe. Why people basically like using centralized is that, it has more volume on the exchange. Decentralized are even more safe and secured in my own opinion

chamika888

member

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Decentralized blockchain tokens are being traded on very centralized exchanges. Essentially it’s a contradiction in terms, that manifests itself in these exchanges being hacked all the time. You just can’t trust a centralized service with your decentralized tokens. Bitcoin and other crypto is a perfect thing to steal, transactions are non-reversible, transfers are hard to trace. Centralized cryptocurrency exchanges are not sustainable in the long run, since the cost of an successful attack can ruin any successful exchange.

fastrabbit

member

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It is quite obvious that DEXs could be a safer way for people to trade cryptocurrencies. The multiple losses that people have incurred as a result of centralised exchanges failing is perhaps one of the most compelling reasons for their use.Further most people probably don't even understand enough about the risks of using centralised exchanges to understand the need for them.It is inevitable (given the nature of cryptocurrencies) that we will have more centralised exchange failures and that people will lose their money.This will force them into considering DEXs as an option.Sometimes it takes harsh lessons for people to learn how to do things right.

portalufonet

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Quote from: coinwizard_ on July 16, 2018, 03:02:17 AM

You need to be more computer literate to use a DEX as there is usually limited support. With binance there is a team of people that can help you but on a DEX you're on your own

Decentralized flooring is where many coins are not yet available for listing on large exchanges that can be traded, and especially where investors can buy coins at a relatively cheap price. I have also made many transactions on EtherDelta, Idex ... and I feel quite satisfied.

kakonhat

member

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Crypto in my Blood

Many people already answered your question. And you have already understood it. Yes, I agree with all that this is safe. All of the money in your control, so no worry to lose it.

ankurguta87

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Activity: 364

Merit: 117

DEX provide a more secure and fair way for users to exchange digital assets for a whole host of reasons, and as the general public grows in blockchain savviness, we’re likely to see a move towards holders of digital assets wanting more control and security in their engagement with exchanges.

Amongst most pressing issues with an over-reliance on centralized exchanges is security. Every week it seems, there is a new report of a major hack at a centralized exchange, with stolen amounts ranging in the hundreds of millions of dollars.

hitrawal91

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BitcoinSN - The Real Bitcoin!!!

Quote from: suchi2591 on June 06, 2018, 04:33:46 AM

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?

Decentralized exchanges are really safe and better than centralized one and I mostly preferred to trade with them because they provide the transactions to happen without and KYC and also all the process is carried out on blockchain technology and it is based on contracts and so, I like to prefer to go with it. The best example is Etherdelta which i use for trading on most of the occasions.

coinwizard_

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Most Advanced Crypto Exchange on the Blockchain

You need to be more computer literate to use a DEX as there is usually limited support. With binance there is a team of people that can help you but on a DEX you're on your own

samycoin

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Quote from: suchi2591 on June 06, 2018, 04:33:46 AM

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?

Those exchanges is safe it's depends on us how to use it. I used many exchanges and I never have a problem in decentralized exchange and even in centralized exchange. Maybe others use centralized because it's more convenient for þhem or maybe the token they have is there.

Ekenegbu123

newbie

Activity: 154

Merit: 0

Decentralized exchanges are quite safe. I have used a couple of them(idex, forkdelta) and my experience has been good with them. Decentralized exchanges trades erc20 tokens only while centralized exchanges have a lot of markets in it. Thats the difference between the both of them

Topic: decentralized exchanges are safe? - page 2. (Read 604 times)