Is safe if you don't visit the fake dex website, I never got a problem while using dex for trading my tokens. Honestly, I prefer using DEX than CEX because DEX has a lower transaction's fee and then we don't need to wait for confirmation time and also KYC is not mandatory if we want to use DEX for trading...
Make sure never login into DEX directly using your Private key to prevent hackers, better using software like Metamask for safety...
Topic: Dex exchanges are safe? - page 8. (Read 6617 times)
The best thing about Decentralized Exchange, you transact with your own wallet, you keep safe your private keys, when anything goes wrong the exchange, even it was compromised and taken down, you still have the full control of your wallet.
Unlike on CEX, when they get compromised, you lose everything.
There is at least one minus point of decentralized exchanges: their customer supports.Unlike on CEX, when they get compromised, you lose everything.
If you transactions (deposits/ withdrawals) sticker/ unconfirmed due too higher fees required on network than default fees set by exchanges; you will do make customer supports. In such cases, Dex might give you slower supports.
The best thing about Decentralized Exchange, you transact with your own wallet, you keep safe your private keys, when anything goes wrong the exchange, even it was compromised and taken down, you still have the full control of your wallet.
Unlike on CEX, when they get compromised, you lose everything.
Unlike on CEX, when they get compromised, you lose everything.
Yes, decentralized exchanges are safe. But don't log to decentralized exchanges with your private keys. You can connect your hardware wallet or software wallet with decentralized exchanges.
Dex is more reliable to use for save trade than cex as your funds will be directly in your hands but that of Cex is hold by the exchange and can be jeopardize with any time , so dex is still the best to run on for save trade.
hacking a smart contract is much more difficult than to hack centralized exchange and the hacker will not spend time on it because there will be little money
It's almost impossible but the only way to do that through found the vulnerability in the ethereum network which has already secured by thousands of nodes. The only way to hack the hot wallet through steal the priv key or the JSON data but that's also impossible. Smartcontract is so difficult to be hacked as long as the issuer is not putting the back door that can be used by scammer. 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?
I've used Switcheo through O3 wallet for NEO since they integrated. It is safe.
DEXs are safe when used safely and of course when you take care of which one you are using. Imagine that you give your private key to someone else and act according to this.
I have been using the IDEX exchange for over a year and it is quite there.
IDEX is one of the most used DEXs but, as far as I know it is gonna make some changes to its conditions.
Real DEXes are generally safe in the sense that there is no central control of your transaction.so that traders funds cant be stolen by creators of the DEXes. Many DEXes however use smart-contracts. I guess if the smart-contracts is hacked, funds in it can be stolen. But don't worry, this rarely happens.
The safest DEX is probably the one that uses multisig wallets or non-custodial DEXes of some sort
The safest DEX is probably the one that uses multisig wallets or non-custodial DEXes of some sort
I have been using the IDEX exchange for over a year and it is quite there.
Dex exchanges are safe and easy to use, but do bookmarked their website and if it is the first time you are using their website install metamask and perform a thorough cheking
True DEX exchange is safe, 100%, even Binance launching their DEX
this can be future of exchanges, but it's too complicated to create and too slow right now
Probably you are accessing DEX from a low end device or your internet connection is poor. All DEX works works fine on my browser with no issue. this can be future of exchanges, but it's too complicated to create and too slow right now
True DEX exchange is safe, 100%, even Binance launching their DEX
this can be future of exchanges, but it's too complicated to create and too slow right now
this can be future of exchanges, but it's too complicated to create and too slow right now
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?
All transactions are executed on smart contract, so DEX has no way to stole the money out of your pocket. As long as you don't reveal PK, these DEXs are safe. So don't worry buddy.
Dex exchange is safe in my opinion. It's connecting your personal wallet to the exchange which it's guaranteed you trading safely instead of storing your assests in a cex. It's more easier and safe to an extend expect otherwise.
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 are much safer for an attack unless the wallet you are using have the issue and stole your funds on that wallet. There have instances that MEW get hacked, so to say DEX are safe but your wallets aren't. 
It is the safest out there that you could use. DEX.
They are using the blockchain technology only and dont really have any server but a website.
All things that are happening inside it are because of the traders and the owner of the website will not have the property or even the slight authority to get in your account.
But with doubts which is good too, you should use a dummy account or a separate account just so to have a clear mind.
They are using the blockchain technology only and dont really have any server but a website.
All things that are happening inside it are because of the traders and the owner of the website will not have the property or even the slight authority to get in your account.
But with doubts which is good too, you should use a dummy account or a separate account just so to have a clear mind.
I used to believe decentralized exchanges were truly safe. Then I remembered how people lost a lot of money in assets at etherdelta around 2017. Truth is as long as you are connected to the internet, nothing is safe. Just keep taking extra measures to secure your assets and most importantly, your main assets should be physical and not virtual just to be safe financially.
People lost their assets to phishing sites not the etherdelta I know. My private key is still on etherdelta since I started trading on it, I never removed it.
What are the extra measures you want people to take if I may ask?
And Where is the adoption of crypto going to come from if you are advising people to keep their main assets physical?
The things you need to look while trading new decentralized exchanges like the legitimate of the exchange and how people review that exchange, if you found that that exchange is good for trading then you need to look that you are actually entered into the legit exchange or any clone website.
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?
In theory, Decentralized exchanges is safer to use than normal one. But till now, I still did not find any exchange of that kind is trustworthy to me. I just deposit small amount and still nothing bad happened yet, but I Don't really trust them. Jump to: