Topic: Dex exchanges are safe? (Read 6614 times)
The only thing decentralized exchange did better is perfect safest of funds, every other things they failed, trading interface are so confusing and any newbie using them can easily make the wrong calls, trading volumes are way lower than centralized exchanges volumes
I think it's much safer to trade in Decentralized this year than two years ago, people are more educated now, on how to trade n Dex and besides they are not likely to get hacked by hackers, because they are not getting huge amount of tradeable coins than when they are going to do it with prominent centralized exchange.
It is safer to trade on decentralized exchanges, you have your coins in your wallet and you have the private keys that opens that
wallet. In centralized exchanges they have your coins because they have the private keys.
I think in the future people will use decentralized exchanges more. Like you say people will learn about what is safer and they will
go where it is safer! We just need more time and more education about these matter, when people learn about it they will know what
is the best for them.
The risk of this token being stolen is high unless you are using a hardware wallet. I used to encounter the theft of tokens. Fortunately, even if I found out, I transferred the tokens in time.
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
If you not sure to this exchange better to avoid connect your wallet to any exchanges. It's to be safe than to sorry later. Some exchange don't have secured site. There's some ways to use some exchange that don't need to connect your private wallets like trust wallet. Be more vigilant now a days their's a lot of fraud in crypto. Find those much secure exchanges other than dex if that feels so bad, as you think of. That's already happening on most decentralized exchanges, because our online wallet was vulnerable to cyber attacks used by hackers and who did fraud actions on crypto. This cannot be tolerated and it must be avoided by preventing ourselves to deal with these exchanges. The best that we can do in order to stay away from these exchanges, try to divert with hardware wallets someday.
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
If you not sure to this exchange better to avoid connect your wallet to any exchanges. It's to be safe than to sorry later. Some exchange don't have secured site. There's some ways to use some exchange that don't need to connect your private wallets like trust wallet. Be more vigilant now a days their's a lot of fraud in crypto. I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
If an exchange that can be connected to Metamask will be safer than importing a private key. Because exchange cannot take the private key that we import in metamask.Now a day most of the people are afraid of the hacks and makes them secure themselves with the metamask, it is good to use metamask otherwise, you will lose funding because before sending payment and accessing wallets it will definitely ask you for confirmations.
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
If an exchange that can be connected to Metamask will be safer than importing a private key. Because exchange cannot take the private key that we import in metamask. 
I think it's much safer to trade in Decentralized this year than two years ago, people are more educated now, on how to trade n Dex and besides they are not likely to get hacked by hackers, because they are not getting huge amount of tradeable coins than when they are going to do it with prominent centralized exchange.
Everything will be fine with you while you connect your wallet through third-party interfaces such as Metamask or Trust Vallet.
As soon as you start entering your private key for connecting a wallet, you will immediately endanger your funds.
As one guy on this forum said, "the harder the safer."
Stay alert, never be lazy or rush. Always double-check everything and keep important records away from the Internet.
A must thing to be done but majority of people are way too lazy enough to ignore up these basic things and they would only learn later onAs soon as you start entering your private key for connecting a wallet, you will immediately endanger your funds.
As one guy on this forum said, "the harder the safer."
Stay alert, never be lazy or rush. Always double-check everything and keep important records away from the Internet.
after they lost up some funds into their own wallet.In short, mistakes do make learnings but we should not really come to that point or not really that
necessary since we can avoid it without the need of experiencing it.
About dex exchangers,i do only trust up Bisq and the rest is out of my interest.
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
Yup, by a phishing site or the dex exchange domain name is hijacked and then you are connected to the fake site. The only way to prevent this is to check if the site is real by checking the IP addresses or any other detection tool.
Everything will be fine with you while you connect your wallet through third-party interfaces such as Metamask or Trust Vallet.
As soon as you start entering your private key for connecting a wallet, you will immediately endanger your funds.
As one guy on this forum said, "the harder the safer."
Stay alert, never be lazy or rush. Always double-check everything and keep important records away from the Internet.
As soon as you start entering your private key for connecting a wallet, you will immediately endanger your funds.
As one guy on this forum said, "the harder the safer."
Stay alert, never be lazy or rush. Always double-check everything and keep important records away from the Internet.
I think it's safe especially when you connect your wallet thru ledger or metamask, however just be careful when visiting dex websites because if you stumble upon a phishing one then goodbye to precious coins/tokens because your private key will be stolen.
This is main problem for people, phising site when they want to use their private keys. Maybe metamask will be best choice. But for me i usually manual typing the web or look in coinmarketcap, and use special wallet that only used in that DEX exchange. So it is different with my main wallet. At least it is easier for me to do and i think it is still safe until now.Not change other strategies yet. 
yes, dex exchange so far is very safe, effective enough to be able to avoid hacker attacks. You also avoid the risk of loss if the exchange is hacked or other problems. without the involvement of a third party makes you more secure to use it.
I think it's safe especially when you connect your wallet thru ledger or metamask, however just be careful when visiting dex websites because if you stumble upon a phishing one then goodbye to precious coins/tokens because your private key will be stolen.
Decentralized exchanges are safe in my opinion, but hackers and scammers often to find other ways to steal other's coins.
We must very careful when using dex because usually dex is targeted by scammers to phish people's wallet.
We must very careful when using dex because usually dex is targeted by scammers to phish people's wallet.
Genuine decentralized trading platforms are commonly safe and secure as in there is no focal control of your transaction.
The finances of the Users cannot be taken by makers of the DEX.
Decentralized exchanges are governed by smart contracts and these are responsible for security and overview of the activities on d exchange.
The only downside to DEX is their low trading volume
The finances of the Users cannot be taken by makers of the DEX.
Decentralized exchanges are governed by smart contracts and these are responsible for security and overview of the activities on d exchange.
The only downside to DEX is their low trading volume
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
Since I started login my private key or my real wallet in a Decentralized Exchanges like etherdelta, fokdelta, Ddex, I didn't experience about losing funds between them. But I can hear saying that their funds get stole. So I think they did not notice that maybe they are login into the phishing sites, so be cautious all the time.DEX are technically safer than CEX but not totally a hundred percenter because there has been a case of such hack where multitudes lost fund with Ether delta which led to some legal actions and fork to Forkdelta. So don't leave huge funds in wallets connected to an exchange
It's safe to use decentralized exchanges especially when going through the means you mentioned (metamask or trust wallet). Connecting wallet to a DEX doesn't affect your funds in any way, you still have control over your funds. Just don't keep importing private keys or mnemonic phrase to DEX, it's not safe this way.
I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
Yes it is safe, as long as you are on the right link of the website.
If you will be at the phishing website then you are dead.
1. Connecting your private key or wallet to DEX exchange is a must on that thing.
- I use one different wallet connected on DEX and i just send the token/coins i want to exchange there.
Some DEX exchanges are safe but some specific and can stole your private keys. I think that ForkDelta is not safe but Binance DEX for now is safe. You should be very attended to choose DEX for you needs because a lot of them created to stole your funds.
Jump to: