Topic: Dex exchanges are safe? - page 6. (Read 6617 times)
Dex exchanges are pretty safe if ya know what ya doing babe. Don't leave coins on the exchange, just trade then leave. Just ma 2 centz.
In other words, you can always create a separate wallet for transactions on dex totally separate from the wallet were you hold the majority of your funds to ensure complete safety if you are not comfortable connecting your main wallet to any dex, all you need do is transfer whatever amount of funds you need to transact with to this particular wallet and that is it.
Probably centralized and decentralized exchanges can be hacked. It all depends on the security of each of the exchanges. I believe that on decentralized exchanges some of the responsibility for their safety lies with the user.
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It depends on the exchange.
Just like CEXs. Not every CEX is safe. Some of the DEXs are not pure DEX, maybe hybrid exchanges - marketing buzz word and when you loose your money by hack then you wonder how it is possible.
Just like CEXs. Not every CEX is safe. Some of the DEXs are not pure DEX, maybe hybrid exchanges - marketing buzz word and when you loose your money by hack then you wonder how it is possible.
I think Dex exchange is safe,. As long as you keep your private key and your password its really safe.
That is what I usually emphasize to a lot of people, the safety of our coins still depends on us. Whether Centralized exchange or Decentralized exchange, nothing is safe till we safeguard our own wallet personally. The only thing I just see with DEX exchanges is that it is quite difficult to hack the exchange itself, while CEX exchange is more prone to hacking generally even if you are careful with your keys.The best thing to do when it comes to our crypto and their safety is never to save the coins on any of these exchange, they are the easiest target for our funds to be stolen than our personal wallet exchange and few exchanges are ones that have safe fund, once coin is stolen in some exchanges, its stolen and gone forever without compensation.
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?
With my experience until now, popular decentralized exchanges are good and safe to use.
In Ethereum network im using Forkdelta, IDEX, DDEX.
On other coins, i usually using CryptoBridge as my decentralized exchange.
If there's a chance of stealing, that'd be phishing or someone keylogging your privkey.
If you are using a decentralized exchange, the security of your fund lies in your hands and not on the exchange, because you control your fund and every transaction carried out or executive, have to be done with your approval. So for you not to lose your fund, you have to be careful on the exchange site to you and the way you handle your private key.
It is safe as long as you have the right website.
You just make it right to put infos there and you should be ready for that.
As for your private keys, never share to anyone and put it on the right space on the right site.
You just make it right to put infos there and you should be ready for that.
As for your private keys, never share to anyone and put it on the right space on the right site.
Developers of any exchange can provide third-party software and assure that it is safe. In fact, it may hide itself a spy virus.
You're aren't pertaining with Dex because if we do talk about on how dexes work then this wont fit out yet we know that they do integrate Metamask for smart contracts or scatter for EOS and so on.
It's hard to say. Of all the dexes, I traded only on ForkDelta, EtherDelta and IDEX. For more than a year of trading, I have never encountered the fact that I lost coins. I do not guarantee that they can be fully trusted, but you can use these exchanges.
for security, it's certainly safe, because dex is very different from cex, and why is dex safe? because from the way dex works, relying on smartcontract and smartcontract is very complicated to hack as I know it, and I know dex isn't always safe because it could be because dex is popular there are some who look for opportunities to create a scam dex exchange.
Developers of any exchange can provide third-party software and assure that it is safe. In fact, it may hide itself a spy virus.
In my opinion, decentralized exchange is safe to an extent, but the issue is that there's a possibility of getting your wallet compromised if your browser is infected. I remember loosing over 1 eth to a foreign wallet while using the metamask on my Google chrome browser, I guess it was because my browser was compromised and immediately I activated the metamask wallet, the eth was sent out to a foreign wallet.
some are safe, some are not because as far as I know there are some dex that are not worth trying, it's just that I forgot what the name of the dex is but the dex is devoted to tokens from ethereum, and my advice is if you choose dex search that already has enough volume for a new dex you have to be a little wary .
Very interesting thing, i am never think about it.
Scam DEX its something new for me ))
What if i am use metamask and control all operations ?
Scam DEX its something new for me ))
What if i am use metamask and control all operations ?
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?
Of course it is very risky if the exchange is scam they will use our wallet and move the assets we have, in my opinion we better use a new wallet specifically for DEX, because if using the main wallet is very dangerous 
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?
DEX is really very safe. I have used a lot of DEXs like Binance DEX, DDEX, IDEX for a long time and have not had any bad things happen.When you use DEX for major transactions, I recommend having your own laptop and not downloading any applications to ensure safety.
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?
DEX is really very safe. I have used a lot of DEXs like Binance DEX, DDEX, IDEX for a long time and have not had any bad things happen.When you use DEX for major transactions, I recommend having your own laptop and not downloading any applications to ensure safety.
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?
DEXs are safer than centralized exchanges. But there is still no 100% guarantee of course that your funds will not be exposed to possible hacks or stealing. But as compared to centralized exchanges wherein your funds are not really within your possession, DEXs are much better options. And using metamask or trust wallet is another additional security layer to your transactions. You are safer with that provided your private keys are safely stored somewhere far from anyone's access and that you check the website every time before you enter to avoid seemingly similar yet phishing sites.
I have been using DEX for a long time. and until now it is still safe. Connecting your wallet doesn't mean they know your wallet's phrase or password. DEX only connects your wallet, not sees your phrase. If you store your Phrase or password in a safe place, your wallet will be fine.
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