Topic: DEX must take over (Read 786 times)
Centralized exchanges are feeling the heat from the success of Dex, and many Dex are been birth with good intention. When IDEX introduced email and KYC registrations, the volume dramatically dropped, no one speak of IDEX anymore. Uniswap has taken over trading billions of dollars in daily volume and even gave their loyal customers some airdrop but Cex always look for a way to milk their customers.
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
It will soon become, centralized is quite easy to use but there are many risks we have seen a lot of complaints about small centralized exchange scamming their traders and of course the KYC issue, the decentralized exchange has no third party interference but you must first learn the technicalities associated with it, but between the too decentralized exchange is more preferable because it promotes the philosophy of decentralization that Nakamoto is promoting. 
DEX has a great future, it has been seen that DEX makes everything easy, without KYC and of course safe to use,
it's just that there are some obstacles, yest the high fees, when compared to centralized exchanges
I'm not sure about that. The fees is too high these days, you have need to pay a few dollars just to swap your coins into the another coins. that's not worth consider when you have need to pay only a dollars or less to transfer it into the exchange site and you will be able to swapping it anytime. That means if dex is not so good as people said. Some dex were also giving its users mandatory to complete the KYC verification. it's just that there are some obstacles, yest the high fees, when compared to centralized exchanges
CEX has a bunch of features that didn't owned by the dex. I'm not sure how dex can take over the cex for sure.
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
DEX has a good future but looking on its technology, I think they still need more improvement regarding this one since CEX are having a great time on this market simply because they offer a real business which I think is not easy to achieve for DEX. Well, this should be the real purpose of cryptomarket so I also hope for the success of DEX so they can finally take over the market. hero member
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Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
Is it completely understand that 90% of all cryptocurrency enthusiast and investors cherished their privacy which is the reason why I believe centralized exchange are the perfect exchange for the crypto community but the last time I checked centralized exchanges are not providing satisfactory service.I believe there are tons of people who would love to stay anon, hell there are tons of people who use monero just because they want to stay anon, which is why I think people will stay with decentralized finance in order to keep staying anon without showing anyone who they are and not sharing their KYC with companies who will notify governments on each of your moves to be taxed.
You make a good point but tax shouldn't be evaded or else you will have a problem with the law and the use of DEX wasn't about skipping task fee but respect the legacy of Bitcoin which is the key to crypto enthusiasts liberation. Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
It's true that centralized projects can be controlled by the government but centralized exchanges are far better than DEX marginally, right now centralized exchanges are even safer than DEX and DeFi projects, almost all hacks that took place this year are on decentralized projects and DEX exchanges, talk about the highest volumes and liquidity, it belongs to centralized exchangesI'm not sure if it's true. More hacks happened on CEX, not DEX. The only scams going on are the fake defi projects and tokens added on Uniswap that are also fake. If you look at the history of cryptocurrency, most hacks are the ones owned by companies including the one where CEO disappear particularly the Canadian Quadriga exchange. DEX is more secured because of its noncustodial. They are however not 100% decentralized.
Unfortunately It's a wish that's not working out as we hoped for, right now centralized exchanges are far better, if DEX can be as good as centralized exchanges many users will switch to DEX, almost everyone in crypto space want to be off radar from the law and government but DEX aren't just as good as CEX, no enough liquidity, interface isn't good for newbies and traders, DEX lacks volumes etc
The KYC idea before withdrawing is what makes me stay away from centralized exchanges, right now you can see why my decision isn't bad at all, if the law is asking centralized exchanges to drop every user data to them it's not impossible, law has power over centralized platforms and organisations, I'm glad I stick with my rules
Can you explain what the problems are with KYC?
A legal contract requires at least two willing party's.
Before a KYC can proceed a KNB (Know Your Busines) must be done.
It needs to be established who will see the sensitive private data and every single person who deals with the private sensitive data needs to be approved from the second party. Also any new person who at a later stage has access needs to be approved first from the owner of the sensitive private data.
Handing over private ownership of valuble data to some random stanger (on or offline) is beyond ....
The KYC idea before withdrawing is what makes me stay away from centralized exchanges, right now you can see why my decision isn't bad at all, if the law is asking centralized exchanges to drop every user data to them it's not impossible, law has power over centralized platforms and organisations, I'm glad I stick with my rules
Can you explain what the problems are with KYC?
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
It's true that centralized projects can be controlled by the government but centralized exchanges are far better than DEX marginally, right now centralized exchanges are even safer than DEX and DeFi projects, almost all hacks that took place this year are on decentralized projects and DEX exchanges, talk about the highest volumes and liquidity, it belongs to centralized exchangesI'm not sure if it's true. More hacks happened on CEX, not DEX. The only scams going on are the fake defi projects and tokens added on Uniswap that are also fake. If you look at the history of cryptocurrency, most hacks are the ones owned by companies including the one where CEO disappear particularly the Canadian Quadriga exchange. DEX is more secured because of its noncustodial. They are however not 100% decentralized.
For this, a blockchain, cryptocurrencies and so on are created to protect themselves from the authorities, etc. But now it is still at a low level, to call it decentralization now, I think so.
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
It's true that centralized projects can be controlled by the government but centralized exchanges are far better than DEX marginally, right now centralized exchanges are even safer than DEX and DeFi projects, almost all hacks that took place this year are on decentralized projects and DEX exchanges, talk about the highest volumes and liquidity, it belongs to centralized exchanges
Decentralized and decentralized exchanges can all be subject to exchange rate manipulation because of BOTs.
Centralized exchanges hold too much money and have many security scandals, but they have the advantage of making it easy for users to use many tools for better trading and policies to attract people. use.
Decentralized exchanges operate on their own, and transaction costs are distributed to the liquidity pool participants. DEXs have less and more free users, only a handful of DEXs have good liquidity. Some DEXs have source code bugs that cause the user's funds to be stolen.
To confirm whether DEX or CEX is better we will have to wait a few more years to observe.
Centralized exchanges hold too much money and have many security scandals, but they have the advantage of making it easy for users to use many tools for better trading and policies to attract people. use.
Decentralized exchanges operate on their own, and transaction costs are distributed to the liquidity pool participants. DEXs have less and more free users, only a handful of DEXs have good liquidity. Some DEXs have source code bugs that cause the user's funds to be stolen.
To confirm whether DEX or CEX is better we will have to wait a few more years to observe.
I also hope that. It fits the original concept, where users become owners of their own financial applications without third party interference, but all have their own place and space. In my opinion, the government's contribution is also deemed necessary because it has its own meaning regarding the legalization of use which will have a quick impact on development for mass adoption by users.
No worries, DEXs will become more and more important over time. Uniswap, for example, profited a lot of the last Defi hype and still has a nice and easy to use UI in my opinion. Once they release v3 they will implement even more features.
Yes, and hopefully the new features on Uniswap can come soon and have many benefits for all their users, because now scammers are also creating fake applications that use the name Uniswap so that some people already think that the exchange is a scam. Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
Yes, now the DEX has grown and improved a lot over itself 3 years ago. However, it can only pass CEX if the problem of fees and transaction speed improves, and it is possible that the coming ETH 2.0 will solve this problem.No worries, DEXs will become more and more important over time. Uniswap, for example, profited a lot of the last Defi hype and still has a nice and easy to use UI in my opinion. Once they release v3 they will implement even more features.
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
Yes, now the DEX has grown and improved a lot over itself 3 years ago. However, it can only pass CEX if the problem of fees and transaction speed improves, and it is possible that the coming ETH 2.0 will solve this problem.
Decentralized exchanges need to take over centralized exchanges in the future, going fully decentralized is what makes more sense around crypto, centralized exchanges can be controlled by the law and government, I heard court is asking users data from centralized exchanges too, just imagine if all exchanges in crypto space are all DEXs, I know that DEX has its flaws too but it's safer than centralized exchanges
Yes, now the DEX has grown and improved a lot over itself 3 years ago. However, it can only pass CEX if the problem of fees and transaction speed improves, and it is possible that the coming ETH 2.0 will solve this problem. 
Dex already here from recent years but most of trader like CEX, and dex is gaining reputation from defi hype not exactly the real adoption because most likely for eth token instead, the fee quite spike sometimes for eth token, and cex is flat fee
Dex is much more secure, but the problem here is that traders are not more interested in dex. As a result, the volume of dex is much less so that good results cannot be expected by trading on that exchange. So now the centralized exchanges dominate the crypto industry, and in doing so these exchanges harass the traders by adding arbitrary rules.
Hopefully in the future the dominance of centralized exchanges in the crypto market will decrease.
Hopefully in the future the dominance of centralized exchanges in the crypto market will decrease.
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