DEX's with MILLIONS in volume, COULD make you stinking rich, here's why. - page 3.

Flux0z

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Quote from: jhonjhon on May 15, 2020, 06:48:41 AM

Quote from: KaratX on May 15, 2020, 06:29:22 AM

Some Dex requires you to import your wallet keys to send coins and tokens, for example idex, you are still giving away your details this way, the last time I used idex exchange I created a fresh wallet address on the exchange and send my coins into the exchange wallet address.

Definitely, right. That is why we should be careful when accessing their site and it should be the legit one.

For many times that I've using DEX exchanges, I've never been experiencing being hack. Maybe I was lucky but I think because I was not careless enough to access my wallet, sending keys using another computer. And it much safer if we don't keep our money in any exchanger for a very long time.

A real TRUE decentralized DEX wont ask you to "import your wallet keys". A true DEX is simply a dApp that you use to transact with while being in complete control of your own private keys. Never liked IDEX.

Try the Blocknet DEX, and you'll see how easy it is to trade. It's one of the only true DEX's out there with no centralized points of failure.

leea-1334

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Quote from: FireBallex on May 15, 2020, 05:00:50 AM

I'm fine with KYC on exchanges to trade my coins and tokens, I don't have any problem with this, I have nothing to hide and for those who are smart they know that lack of KYC can do alot more damage to crypto and blockchain in general, there will be more thefts and hacks and nothing will be done about them, crypto will fully turn into criminals den

I am fine with one or two things. I know I have to comply with tax and identity to prove I am not cheating or whatever,,, the problem is always that I have no idea if the guys who are behind the thing will keep my data safe. In a way, I trust third party providers even more than exchangers themselves but at the end of the day. If you are selling your KYC for a few dollars, you probably deserve identity theft!

jhonjhon

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Quote from: KaratX on May 15, 2020, 06:29:22 AM

Some Dex requires you to import your wallet keys to send coins and tokens, for example idex, you are still giving away your details this way, the last time I used idex exchange I created a fresh wallet address on the exchange and send my coins into the exchange wallet address.

Definitely, right. That is why we should be careful when accessing their site and it should be the legit one.

For many times that I've using DEX exchanges, I've never been experiencing being hack. Maybe I was lucky but I think because I was not careless enough to access my wallet, sending keys using another computer. And it much safer if we don't keep our money in any exchanger for a very long time.

KaratX

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Some Dex requires you to import your wallet keys to send coins and tokens, for example idex, you are still giving away your details this way, the last time I used idex exchange I created a fresh wallet address on the exchange and send my coins into the exchange wallet address.

Japinat

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Quote from: FireBallex on May 15, 2020, 05:00:50 AM

I'm fine with KYC on exchanges to trade my coins and tokens, I don't have any problem with this, I have nothing to hide and for those who are smart they know that lack of KYC can do alot more damage to crypto and blockchain in general, there will be more thefts and hacks and nothing will be done about them, crypto will fully turn into criminals den

Always choose the exchange you will trust when submitting your KYC, I get your point but you should also think of the risk that your information could be sold, that is why I only do my KYC on the popular exchange as I know they will not ruin their reputation doing some stupid things leaking our information, when the exchange is trading over $100 million in 24 hours to $1 billion, that's an exchange you can trust.

FireBallex

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I'm fine with KYC on exchanges to trade my coins and tokens, I don't have any problem with this, I have nothing to hide and for those who are smart they know that lack of KYC can do alot more damage to crypto and blockchain in general, there will be more thefts and hacks and nothing will be done about them, crypto will fully turn into criminals den

bgaf

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Quote from: BTCXRPADA on May 12, 2020, 11:39:10 AM

I remember holding a good bunch of KCS in 2017, which I made a massive profit off of, didn't sell the top though, but still came out pretty decent. If DEX's sees the same hype as back then (which is very likely eventually), then I for sure believe they will be a good hold for the future.

Hello KCS is kucoin tokens right? It is not a dex and more into centralized. Dex are also good but if you knew how to use it timely. My favorite dex is is IDEX, after the downfall of etherdelta and forkdelta many traders have jump off to IDEX and become one of the major dex that has good volume. I could not say if its million but Im sure they have a good liquidity even until now. But sadly they have some changes like there is a payment already on listing that supposedly a free one for dex. I have no clue if they can still be categorized as one.

BTCXRPADA

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I remember holding a good bunch of KCS in 2017, which I made a massive profit off of, didn't sell the top though, but still came out pretty decent. If DEX's sees the same hype as back then (which is very likely eventually), then I for sure believe they will be a good hold for the future.

There are plenty of DEX platforms out there, sadly with "bad actors" among them like NASH, which has GEO-blocking and KYC. Cool "DEX" you got there Roll Eyes

Flux0z

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Quote from: Wh00re on May 07, 2020, 09:46:37 AM

Quote from: crwth on May 01, 2020, 11:14:54 PM

Right now we are still in the phase where it's on centralized exchanges and I don't think it's going anywhere soon. When we are talking about the privacy and safety of assets, DEX is probably the best bet. For people who are not that tech-savvy, they are going to have a hard time working things out even only just by registering. I think it's going to get complicated for them. I hope that you didn't just shill Blocknet.

DEX's overall is becoming easier and easier to use, as they are improved all the time. You can still trade on a few exchanges without undergoing KYC (Binance is a good example here), but if that changes over night, I'm sure the volume on DEX's would EXPLODE.

I wont share my passport, my picture, or anything else like that, with anyone. Completely ruins the idea behind cryptocurrencies.

I know Blocknet (as mentioned by the OP) is releasing a Litewallet soon, making trading as easy as exchanging your coins using Shapeshift (which also DIED because of KYC).

A Litewallet would for sure ease up things a bit. Any more details on this? Don't follow Blocknet too closely, so seems like I've missed this one. I'd love to know more, as the entry barrier to DEX's isn't always as user friendly as it should be.

Wh00re

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Quote from: crwth on May 01, 2020, 11:14:54 PM

Right now we are still in the phase where it's on centralized exchanges and I don't think it's going anywhere soon. When we are talking about the privacy and safety of assets, DEX is probably the best bet. For people who are not that tech-savvy, they are going to have a hard time working things out even only just by registering. I think it's going to get complicated for them. I hope that you didn't just shill Blocknet.

DEX's overall is becoming easier and easier to use, as they are improved all the time. You can still trade on a few exchanges without undergoing KYC (Binance is a good example here), but if that changes over night, I'm sure the volume on DEX's would EXPLODE.

I wont share my passport, my picture, or anything else like that, with anyone. Completely ruins the idea behind cryptocurrencies.

I know Blocknet (as mentioned by the OP) is releasing a Litewallet soon, making trading as easy as exchanging your coins using Shapeshift (which also DIED because of KYC).

LeoBTCGod

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Quote from: Teraboy on May 01, 2020, 11:33:04 PM

Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX used a setup that made them responsible for the DEX. A real DEX isn't owned or controlled by anyone. It's a peer 2 peer solution, basically no owner. You can compare it with the Internet. Imagine being asked to send in your passport to use a WIFI connection at your local McDonalds. Cheesy

Marckolind

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Quote from: GucciBoy on May 04, 2020, 09:15:21 AM

Quote from: pakhitheboss on May 01, 2020, 11:05:54 PM

Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

You forgot the MOST important aspect of any DEX - SECURITY. When using Binance or ANY other CEX, you're essentially TRUSTING them with YOUR funds. As soon as you send the funds over to their exchange, you are no longer the true owner. If Binance gets hacked, and can't pay the damages, you'll everything over night. I'm NOT risking that, as I play around with a huge amount of money (Been in crypto since 2013).

Not Your Keys - Not Your Crypto

Quote from: Teraboy on May 01, 2020, 11:33:04 PM

Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX was CENTRALIZED from the very start, which is why they where forced to implement KYC on their users. If you start a "DEX" and remain the owner, you're eligible to comply with national laws. A REAL DEX isn't owned or controlled by anyone, hence why it's decentralized

In Blocknet's case, the DEX itself is ran by masternodes, and NOT the team itself.

I'm pretty sure Binance is getting around these laws by being based in the Cayman Islands, which is pretty sketchy when you think about it. That's probably the biggest reason why I wont use their DEX, other than the fact that it isn't really decentralized in the first place, lol.

GucciBoy

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Quote from: pakhitheboss on May 01, 2020, 11:05:54 PM

Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

You forgot the MOST important aspect of any DEX - SECURITY. When using Binance or ANY other CEX, you're essentially TRUSTING them with YOUR funds. As soon as you send the funds over to their exchange, you are no longer the true owner. If Binance gets hacked, and can't pay the damages, you'll everything over night. I'm NOT risking that, as I play around with a huge amount of money (Been in crypto since 2013).

Not Your Keys - Not Your Crypto

Quote from: Teraboy on May 01, 2020, 11:33:04 PM

Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX was CENTRALIZED from the very start, which is why they where forced to implement KYC on their users. If you start a "DEX" and remain the owner, you're eligible to comply with national laws. A REAL DEX isn't owned or controlled by anyone, hence why it's decentralized

In Blocknet's case, the DEX itself is ran by masternodes, and NOT the team itself.

Teraboy

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Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

crwth

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Right now we are still in the phase where it's on centralized exchanges and I don't think it's going anywhere soon. When we are talking about the privacy and safety of assets, DEX is probably the best bet. For people who are not that tech-savvy, they are going to have a hard time working things out even only just by registering. I think it's going to get complicated for them. I hope that you didn't just shill Blocknet.

pakhitheboss

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Quote from: Flux0z on April 29, 2020, 10:19:09 AM

Quote from: Japinat on April 28, 2020, 10:08:52 AM

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

FanEagle

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You are overreacting about KYC, there will always be exchanges with either zero KYC no matter what because they will basically be opened in nations with dubious laws so they wouldn't worry about laws in other sensible nations, or there will be some sort of limit for it, like have 2 bitcoin limit on binance as an example. That is why we do not really need to focus on the DEX so much, hopefully one day they will get bigger and I would love to see it, however in case no DEX ever makes it to top, I wouldn't really be sad and I would continue to use binance anyway so no worries for me.

Dex world needs to do marketing a lot better, they are always focusing on the fact that they are decentralized and never look at anything else, they can't get big that way at all.

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Quote from: magisterr on April 25, 2020, 07:00:02 PM

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.

Not so famous at all. But the construction and structure is nice. 10% gain is not a abd profit. But surely this dex needs attention and more marketing cause I just heard it from you. From all dex I think Bancor still on the league and IDEX. These two are top of most volume exchanges or yet popular but they were old testament already.

OP's topic is concern mostly on blocknet which is probably shilling or maybe his just a fan. For me, Bisq is now the most useful though the two Ive mentioned still worth to use. They say Binance Dex is good but the volume is not that great compared to its centralized exchange.

Marckolind

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Quote from: Captain Corporate on April 29, 2020, 11:44:44 AM

As long as Dex's fail to get people trading, they are going to be just destined to doom forever, there is no way in hell you can convince people to actually trade in a place with bare minimum volume available. Which creates this weird cycle, people do not go to DEX because there is no volume, there is no volume because people do not go there, its an endless cycle until one of them is broken. Either the website gives up, or they just find a way of getting people who will overlook the volume issue.

I say increase the affilaite income, if you give people share of the fee they can get from the people they invite, like what binance did at the beginning with %50 of the fee, you may have a bigger chance, plus always try to work with bots, bots do bring it a lot of people as well.

There's a reason more and more DEX's starts hitting the scene, it's because there is an actual DEMAND for them, otherwise we wouldn't see projects like Decred launching their own DEX soon, as well as Stakenet and a few others out there.

Once you'll NO LONGER be able to trade without submitting all your info, then let's see what happens to the volume of DEX's. I don't think you have any idea of how many people who actually deals with cryptocurrencies BECAUSE of privacy, don't need to look no further than the Monero and Dash communities.

Right now, you can trade up to 2 BTC's worth on Binance without submitting KYC details, but if they change that overnight like Bittrex and a ton of other exchanges, you'll for SURE see more action on the DEX's.
The idea is NOT to invest in DEX projects when they're successful, but BEFORE they reach that stage, as you could potentially strike GOLD doing so.

Owning a Blocknet node could provide you with TONS of trading fees 3-5 years from now, all you need to do is look at the bigger picture.
With that mind, Blocknet is way more than "just" a DEX. They're building their own decentralized Oracle services, and improved Infura solution, which will benefit blockchain developers, which will have an easy access to bridge between different blockchains using Blocknet's XRouter.

stomachgrowls

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Quote from: target on April 29, 2020, 10:48:02 AM

Liquidity pool and stablecoin on it is a must for these dexes to have millions in volume. There are a number of platforms that have it but we still can consider them centralized. Bisq and Block are the two that I have tried and definitely a great dex to start with. NEWDEX now has its EOSDT stablecoin which is why its gradually building volume.

Not really a significant reason on for them to build up volume and also to think that its a bit contrary if they would really have that stablecoins?

Main reason why they dont gain that much volume because they dont have fiat pairs and the option or feature that do connect out with fiat which is

understandable which these things can really be seen only on centralized platforms.Aside when it comes to DEX then Bisq is the main place where i do much prefer.

Topic: DEX's with MILLIONS in volume, COULD make you stinking rich, here's why. - page 3. (Read 1163 times)