Topic: DEX must take over (Read 792 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.
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.
I completely agree with DEX being established but the market is traumatized and mainly the old investors who were deceived by CryptoBridge who was an example of DEX for a long time but who was led by government pressures and established KYC. I am not against KYC but if the purpose of the project is financial freedom 100% decentralized and not governed by institutions because it would later establish a centralized system? The big problem for the current DEX is the pressure of the institutions and if this has not been solved, no DEX will come out of the paper or idea.
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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 agree because DEX is more comfortable when doing exchange like no one has controlled over with your funds. I do believe that there are many DEX that has a brighter future though centralized exchange can also do better but in times like this when bitcoin is in bullish trend and one wanting to sell bitcoin but the exchange will review your bitcoin holdings and you can't sell it anymore unless the exchange has done the review. This is not ideal right? So I agree that DEX should take over in bitcoin exchange.
There is no doubt DEXes are going to hit so dip into CEFI market in coming years but for now, how in his own sense will trust DEXes with the huge amount of money CEFI is holding, hardly will a week goes now not reading about exploit in one of these DEFI products, there are still at their early years and with time they are going to get better in security
Unfortunately DEX can't take over centralized exchanges for many reasons, DEX have no good volume, they have complicated dashboard too and that can be hard on newbies, centralized exchanges are the best place for crypto traders, the experience will always be different, DEX don't need to take over centralized exchanges, they are better off co-existing side by side.
I think DEX doesn't need to take over CEX because people will choose what they want, and if they think that DEX can serve them better than CEX, they will use it. Many people still prefer CEX over DEX, and they are no problem if they need to verify their account by sending the document. If both DEX and CEX can work together and spread crypto to many people in many places, crypto will become more popular, and more people will use both DEX and CEX. After many people join the crypto world, both exchanges can grow bigger and have their own fans that will use their services. After all, people want to make more money from both exchanges, and if they can get more money, that means people will like both exchanges.
The main objective of crypto currency is for decentralization cryptonians wants privacy especially when it comes to money and centralized exchanges do the opposite because they require their users to pass kyc so our identities are already revealed. When we say crypto, the exchange must be decentralize exchange so that it will not conflict to Satoshi's vision why he created bitcoin. Yes i believe decentralized exchanges are the future exchanges for crypto.
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
as long as transaction fees are still high it is difficult to get people to switch to DEX. just look at how much to pay just to transfer ERC20 tokens, the amount is sometimes not worth what you will get. this is a problem that must be resolved, and added to the many blockchain networks that exist today. it is difficult to create a DEX platform that supports all networks.
so CEX remains the best choice today, and DEX is only used as an alternative even in the future.
While DEX is starting to go popular, there are still some issues about it like easily hack dex platforms. They are in a verge of a testing stage though I admit DEX platforms are doing more advancements than Centralized platforms. But, dex has a low liquidity that is why traders still wanted cex (centralized exchange) when it comes to this.
But I am also optimistic that with the future improvements of DEX, it can definitely be take over in the future.
But I am also optimistic that with the future improvements of DEX, it can definitely be take over in the future.
This has been the call ever since. Bitcoin is decentralized. It is just logical that exchanges should also be decentralized. Decentralization is the battle cry of Bitcoin and of cryptocurrency in general. We already have a few decentralized exchanges but it seems the majority of the volume is still focused on centralized exchanges. Perhaps the efficiency in trading is in centralized exchanges. I hope DEXs would be able to compete so that traders would move over to them.
The only centralized exchange I'm still using is Bittrex because it's old enough in order to trust it.
Bittrex is not a bad choice because I rarely hear Bittrex users getting complaints, but when compared between Okex and Bittrex, Bittrex is very far behind, specially if it's compared to Uniswap, I think people will prefer Uniswap over Bittre because in 2020 most people prefer DEX to CEX. 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
Assume that the government is after DEX, they can really shut down any exchange they want and make things difficult for anyone. Right now we are in a free zone where everything goes and i really doubt the future of privacy coins as well and whether we will be able to trade in centralized exchanges. The problem right now with DEX is that there is not much liquidity and i have not been to a DEX exchange in a very long time.
I do not understand this problem yet, but I see DEX is always preferred over for me personally. I've also found that some of the major exchanges or top blockchain platforms always have their own DEXs.
Platforms like Blocknet , Komodo , Stakenet are already taking over slowly and steady over the market even if the price does not reflect it at the moment. People usually don't like the idea of doing KYC in order to deposit/withdraw coins and I find myself in this situation aswell where I stopped using CREX24 and other exchanges because I simply don't see the point of doing KYC just to trade my coins. The only centralized exchange I'm still using is Bittrex because it's old enough in order to trust it.
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 doubt DEX will succeed in replacing CEX, because DEX cannot cashout crypto to fiat. And there are still many people who are
comfortable trading on CEX platforms, because we can trade crypto with fiat pairing and the profits we get can be transferred
directly to your bank account. So it is better if DEX and CEX go together and complement each other.
comfortable trading on CEX platforms, because we can trade crypto with fiat pairing and the profits we get can be transferred
directly to your bank account. So it is better if DEX and CEX go together and complement each other.
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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. 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
UNISWAP is now leading the way for decentralization just look on the volume so many users are now using UNISWAP, there are some risk trading on decentralized exchange and this is what newbies or first timers should know, there are also fake tokens on decentralized exchange this is something that newbies should be aware of.
Maybe in the future we'll have more decentralized exchange like UNISWAP.
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
uniswap now do this , and we wait another decentralized exchanges do the same thing with uniswap. the keys is feature and services, if centralized exchanges could provide this feature like decentralized exchanges, i am sure traders prefer use CEX . this limitation so far be obstacle for CEX to attract new user . but uniswap slowly could realized our hope, 
DEX may be the future of our industry but for this they need even more users than now
If they need more users than they are now, then the DEX developer should provide an even more attractive touch for everyone so that their users can easily increase from now onwards.
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
The court can ask anything if the business is established within its country range. And as usual for centralized exchanges, they'll give everything the court is asking to them and they need to provide it without questioning.It can be related to investigation, theft, taxation and other personal matters.
DEXs are still not yet getting much attention. But as long as they'll remain and we have set of choices, we'll never know someday if the choice of the people will change and getting from CEXs to DEXs.
We are in the Era of technology, which really required changes, through upgrade decentralized cryptocurrency exchange platform into dex exchange for a higher version platform, with a high speed internet operating system for any given transaction.
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
The fact of the matter is that dexes cannot be mass adopted till the time when they start offering better interface, better speed, better features, better opportunities and better volumes as compared to centralized exchanges so without these developments and requirements dex supremacy will remain a dream.Hard to maintain good liquidity as most DEXs have a lot of crap tokens. So once the pump and dump is over for that token, there will be no more trading volume afterwards. And the cycle goes on for every token listed. Very few quality projects can sustain their trading volume in DEX. And so dex can't compete with centralized exchanges, at least with CEX, if your coin is good and at the top, they can sustain their trading activity in longer basis.
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
The fact of the matter is that dexes cannot be mass adopted till the time when they start offering better interface, better speed, better features, better opportunities and better volumes as compared to centralized exchanges so without these developments and requirements dex supremacy will remain a dream. 
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
of course dex will take over cex buddy, i'm sure about that
because now in slowly but surely decentralized exchange start showing its power my friend
a lot of issue with centralized exchange, then we need to protect our privacy too, with decentralized exchange most of issue on centralized exchange solved
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
I think that most people in the forum will agree with your feelings about this topic, but people are not going to adopt decentralized exchanges just because of an ideology, and what better example of this than bitcoin, the growth in adoption that we are seeing from bitcoin coming from institutional investors is not coming from the ideology behind bitcoin, they are seeing that governments are printing a lot money and they are looking for a way to store their wealth and they are finding in bitcoin a good option to do it, they are being pragmatic about it, and if we want people to adopt decentralized exchanges then they need to become better than their centralized counterparts and until they do so very few people are going to use them. 
DEX may be the future of our industry but for this they need even more users than now
DEX industry will continue to grow, this is the market front, and very safe,
look at Uniswap the only DEX that is able to compete with other exchanges,
You are only considering one side which is the issue of government regulations and secure of your wallet but you have failed to realized that DEX have low liquidity due to less traders. Many proclaimed DEX are not totally DEX and many of them require exorbitant transaction fee which make me prefer large CEX platform that tend to be better. My experience using etherdelta is the worst I've witnessed in crypto
There are 2 options for us to evaluate Cex or Dex better. The question is can you afford the very high fees at Dex? In addition to the high cost, where the volume is also very low, the analysis also becomes very difficult.
Personally, I would choose Cex. Even though they hold the money of all of us we can still choose reputable exchanges so our assets are less risky, the choice is the Binance exchange.
They have an insurance fund to prevent when investors lose too much money, they can still compensate. Plus they have a lot of trading functionality and the fees are extremely low. They also opened a nationwide OTC service.
There is so much convenience in Binance, so why do we choose Dex for?
Personally, I would choose Cex. Even though they hold the money of all of us we can still choose reputable exchanges so our assets are less risky, the choice is the Binance exchange.
They have an insurance fund to prevent when investors lose too much money, they can still compensate. Plus they have a lot of trading functionality and the fees are extremely low. They also opened a nationwide OTC service.
There is so much convenience in Binance, so why do we choose Dex for?
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, dexdefinitely goes with the concept of the cryprocurrencies but to be honest i am in favor of a hybrid structure just because some people will exploit dexes and scam. Just like we have seen people raising funds for scam projects at uniswap and then rug pulling so truly decentralized system can carry its own disadvantages as well. 
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
I do not think that they "must" take over. They could take over because they look like they are pretty good but the fee structure kills it for now. Uniswap for example is better than any other exchange I have ever seen yet when it comes to exchanging via uniswap you pay a lot of fee and that is why it may not get too much traction in the future.Why it became huge was the liquidity providing, when a lot of bad coins or low level coins figured out a way to sell their coins and get out of it, people did that at first and got rid of all the useless coins they had, sometimes even for a loss because of the fees but they still wanted to get rid of it. That caused the initial launch to have a lot of volume, now it is much lower than that but still quite high. I assume if fee's could be managed, they can take over.
I'm sure that centralized exchanges will still have a place in crypto space for many years to come, it can't be denied that centralized exchanges have the highest liquidity and volumes this is one big problem for DEX, what DEX offers is security but lacks every other things, Centralized exchanges like binance are expanding their platform making crypto more easier to acquire around the world, right now binance exchange beat every single exchanges in crypto world.
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
Do you have any link to back up your claim?
Why do you think many traders stick to centralized exchanges despite growth and trend of Dexes in 2020.
I can't speak generally for all centralized exchanges but I can assure you that binance has been one of the amazing exchange I use with their unique features.
- You can withdraw fiat from cex if you are verified, don't tell me you will keep holding tokens from wallet to wallet.You will definitely need to sell and hence you still need to be verify to exchange tokens to fiat even on p2p platform.
- Some incentives to keep the volumes coming such as trading competition for traders and holders. Decentralized exchanges don't have most of these features.
Binance is almost a DEX if you are not going thru KYC but the limit will be 2 BTC.
That's okay for me. But not everyone agrees with that.
You will need to abide by the law if you want to go further.
Issues like tax evasion and money laundering were why DEX's cannot be approved in different countries.
Which leads to just using CEX without a given option.
Consider the support also. When you create one without volume then it will not be populated.
I am using IDEX before but I need to switch if I want movement with my profits.
That's okay for me. But not everyone agrees with that.
You will need to abide by the law if you want to go further.
Issues like tax evasion and money laundering were why DEX's cannot be approved in different countries.
Which leads to just using CEX without a given option.
Consider the support also. When you create one without volume then it will not be populated.
I am using IDEX before but I need to switch if I want movement with my profits.
DEX may be the future of our industry but for this they need even more users than now
I disagree with this point OP, we need both DEX and CEX exchanges in crypto space, they both have their advantages and disadvantages and it's left for users to choose which one they like using, the word 'decentralized' is like a hoax to me because I believe that anything that's created by humans can be tampered with, DEX can't be 100% trusted as well
safer for what? Do you think dex is fully decentralized? it looks like you never saw how fork delta was getting sued by SEC in the past. I suggest you read some news about that. It's the old news but it has proven if the dex can't be different than cex. The dex is always having the creator and the government will always try to trace the creator of dex and then sued him.
Dex and Cex will be alive together. What we need just a trusted exchange site.
Dex and Cex will be alive together. What we need just a trusted exchange site.
Top centralized exchanges aren't forcing their users to pass KYC, I have no problem with centralized exchanges unless they are forcing people to do KYC before trading and withdrawing, you can still trade on binance and huobi without KYC approval, Dex isn't a good place for me because it's not as easy as centralized exchanges, dex also lacks good liquidity too
Everyone wants this but it needs a lot of improvements. We have already IDEX, remember? People used to list similar token with fake contract before actual token gets listed. If DEX can avoid/prevent such scams, it will be adopted by masses. Otherwise, when even crypto-centric people don't trust them, how on earth normal people will perform their very first trade on DEX?
It is very hard to have such kind of restriction because it is decentralized. It is really on the user how he can avoid getting fake tokens in dex by double checking the smart contract of the particular token. This is one of the disadvantages of dex, they can't put so much restriction, unlike centralized exchanges, they can list according to their guidelines and delist scam/crap tokens.
Everyone wants this but it needs a lot of improvements. We have already IDEX, remember? People used to list similar token with fake contract before actual token gets listed. If DEX can avoid/prevent such scams, it will be adopted by masses. Otherwise, when even crypto-centric people don't trust them, how on earth normal people will perform their very first trade on DEX?
Dex is the future for real, Dex makes crypto more fitting than centralized, government and the law shouldn't be able to control crypto at all but centralized exchanges are giving them the power to control or spy on crypto users, dex will take over in the future I believe, satoshi nakamoto went into hidden because bitcoin is decentralized, if he expose himself bitcoin been dex won't make any sense
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 is the future!
The fear of the government is that they cannot control everything.
There will be only a few DEX that can be successful.
But we will only see this in time ...
Dex performance worries me more than centralized exchanges, high fee, lack of volume, to hard interface, etc, I thing dex has more disadvantages than centralized exchanges, it's better that DEX and CEX co-exists, about the data leak on Centralized exchanges you can still avoid it because not all centralized exchanges make KYC compulsory for their users, binance is a perfect example
I somewhat disagree.
It all depends on whether or not DEXs will evolve to a point to somehow support cross platform transactions. Trading ERC20 tokens on the ETH network on a DEX is easy, but when it comes to trading ETH for BTC or any cryptocurrency with fiat, it'll be incredibly difficult.
Even USDT and other representative tokens probably wouldn't help much, since they are not "the real deal".
This is another reason why I believe that it'll be probable P2P and DEX will continue to coexist as very sizable alternatives to centralised exchanges, but will probably never replace them outright.
It all depends on whether or not DEXs will evolve to a point to somehow support cross platform transactions. Trading ERC20 tokens on the ETH network on a DEX is easy, but when it comes to trading ETH for BTC or any cryptocurrency with fiat, it'll be incredibly difficult.
Even USDT and other representative tokens probably wouldn't help much, since they are not "the real deal".
This is another reason why I believe that it'll be probable P2P and DEX will continue to coexist as very sizable alternatives to centralised exchanges, but will probably never replace them outright.
This issue of asking of users data or the security of users data is what made many people to hardly trade on most centralized exchanges, at the same time, some centralized exchanges were smart enough to allow users to trade and withdraw without KYC but for a limited amount, in this way, they try as much as possible to accommodate all users. Another shortcoming which can be seen in centralized exchanges is the aspect of security, many has been hacked even the top exchanges. However, they have good volume, advanced interface, features and so on.
On the other hand, in as much as decentralized exchanges do not require users data, their major shortcoming is volume; however, they have good security which can be seen as the most important.
Therefore, it can be seen that, both category of exchanges have their limitations as well as advantages, hence it will be difficult for one to takeover from the other, thereby I think it's better both co-exist and let it be left for users to choose the one they want.
On the other hand, in as much as decentralized exchanges do not require users data, their major shortcoming is volume; however, they have good security which can be seen as the most important.
Therefore, it can be seen that, both category of exchanges have their limitations as well as advantages, hence it will be difficult for one to takeover from the other, thereby I think it's better both co-exist and let it be left for users to choose the one they want.
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
if using DEX one of the obstacles is the high fees,
yesterday when using Uniswap the fees I have to spend for one transaction can be up to $ 10,
of course this makes me feel disappointed, even though it's safe but if the fee is expensive it is very uncomfortable.
If future dex platforms can do the following I will gladly switch completely from centralized exchanges to dex exchanges for good
1. Make dex platform more easier to operate, the dashboards of many dex are so complicated to understand, newbies can easily rum off from the platform because of this.
2. Volume issue is why I don't do trading on dex exchanges, Centralised exchanges are ruling big time over dex because of enough liquidity and volumes
1. Make dex platform more easier to operate, the dashboards of many dex are so complicated to understand, newbies can easily rum off from the platform because of this.
2. Volume issue is why I don't do trading on dex exchanges, Centralised exchanges are ruling big time over dex because of enough liquidity and volumes
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
IMO, the DeX is more secure compared to CeX but the problem is the trading volume because the decentralized exchange is not that attractive to many users because it's not users friendly, and low trading volume, These is the most common issue that DeX users were talking about. On the KYC issue, it's okay with me as long as it was legitimate because as law-abiding citizens we must follow our laws in our respective countries, you dont to be afraid about KYC as long as you didn't do illegal or against the law.
Decentralized exchanges has its flaws too mate that's why I prefer centralized exchanges, dex are not easy to understand like centralized exchanges and it's more confusing for newbies, what I need from future upcoming dex is to try to learn from centralized exchanges while still maintaining the decentralized rules
They are not going to remain newbie after a week of exploring a dex. I have seen some dex without any difference from cex, they still have the onchain and native chain which is like having a wallet, trading wallet, and futures wallet.
DEX are still developing and I think it will be easy for users later on.
Decentralized exchanges has its flaws too mate that's why I prefer centralized exchanges, dex are not easy to understand like centralized exchanges and it's more confusing for newbies, what I need from future upcoming dex is to try to learn from centralized exchanges while still maintaining the decentralized rules
both decentralized exchange and centralized exchange has their own flaws. Using dex is just too technical for most of average joe and that's the main reason why the liquidity is so low in many of decentralized exchange meanwhile centralized exchange always designed to be convenient.
Like it or not but people right now could choose freely between decentralized or centralized exchange as they see fit to their need so I think there's just no need to take over centralized exchange or even wipe them off the market becasue we could get the best of both worlds.
It's not like you are forced to use centralized exchange anyway.
Like it or not but people right now could choose freely between decentralized or centralized exchange as they see fit to their need so I think there's just no need to take over centralized exchange or even wipe them off the market becasue we could get the best of both worlds.
It's not like you are forced to use centralized exchange anyway.
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
There are some limitations when we use decentralized exchanges like we can't exchange cryptos with different blockchain and also it will increase the network traffic a lot if everyone using decentralized exchanges. Well we don't need crypto exchange whether it is centralized or decentralized if we use cryptos for payments.
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
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
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