Different between Binance and Binance Dex.

princerepon

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Quote from: tonyvo2017 on September 15, 2019, 02:22:45 AM

Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

DEX is never comparable to CEX, you know, IDEX has been around for a long time and its trading volume is just enough, not high.
Binance DEX takes a long time to get there, but most investors want to trade at CEX. There are more coins there than at DEX.

So you just think, because of CEX have more coin to trade that's why DEX never comparable to CEX..? If i'm not wrong then DEX is more secure than CEX right..? And we saw already CEX attack by hackers couple of times. So isn't it possible that for more security people choose DEX near future..?

esofelap

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Quote from: tonyvo2017 on September 15, 2019, 02:22:45 AM

Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

DEX is never comparable to CEX, you know, IDEX has been around for a long time and its trading volume is just enough, not high.
Binance DEX takes a long time to get there, but most investors want to trade at CEX. There are more coins there than at DEX.

I don’t understand why they did verification on Idex exchange if absolutely fictitious data can be entered there.

tonyvo2017

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Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

DEX is never comparable to CEX, you know, IDEX has been around for a long time and its trading volume is just enough, not high.
Binance DEX takes a long time to get there, but most investors want to trade at CEX. There are more coins there than at DEX.

esofelap

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Quote from: BitHodler on September 13, 2019, 03:26:42 PM

Quote from: esofelap on September 13, 2019, 03:20:24 PM

CZ is very smart man, I like his position. I think he will change something in future, to have more popularity.

His options are running out though. By definition, BNB is a security, which if he wants to offer that one to US residents, he has to knock on the door of the SEC and hope they will approve his proposal.

BNB has taken a 50% dive to where it is right now. Sure, it has gone up a lot too, but people as you know only look at what it is doing right now, and not what it has done in the past.

I'm pretty sure that he was a large seller too. He is very smart and acknowledges the fact that converting BNB to Bitcoin regularly makes him not lose too much, especially if it ends up going back to single digit prices.

People like me? Do you have any claims to me? I expressed my opinion on this person and on actions. It’s enough for me that he made a Binance launchpad.

BitHodler

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Quote from: esofelap on September 13, 2019, 03:20:24 PM

CZ is very smart man, I like his position. I think he will change something in future, to have more popularity.

His options are running out though. By definition, BNB is a security, which if he wants to offer that one to US residents, he has to knock on the door of the SEC and hope they will approve his proposal.

BNB has taken a 50% dive to where it is right now. Sure, it has gone up a lot too, but people as you know only look at what it is doing right now, and not what it has done in the past.

I'm pretty sure that he was a large seller too. He is very smart and acknowledges the fact that converting BNB to Bitcoin regularly makes him not lose too much, especially if it ends up going back to single digit prices.

esofelap

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Quote from: BitHodler on September 12, 2019, 03:22:31 PM

Quote from: bitgolden on September 12, 2019, 03:16:19 AM

It still does not make any difference because people are still using their cex exchange more, despite the fact that the dex is owned by binance and still has the hype that is needed to give them all the volume they need.

The moment Binance stops rewarding people for using it, and withdraws its market makers that generate most of the volume, it's pretty much the end for them when it comes to the hype and popularity.

No dex is able to generate decent enough volumes on its own because the demand simply isn't there. I know that it's a wet dream for a lot of people here to see dexes take over, but it's not going to happen any time soon.

It potentially might never happen with how most people don't really have problems with KYC. The amount of effort needed to get dexes off the ground just isn't worth it for anyone, not even for Binance.

CZ is very smart man, I like his position. I think he will change something in future, to have more popularity.

BitHodler

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Quote from: bitgolden on September 12, 2019, 03:16:19 AM

It still does not make any difference because people are still using their cex exchange more, despite the fact that the dex is owned by binance and still has the hype that is needed to give them all the volume they need.

The moment Binance stops rewarding people for using it, and withdraws its market makers that generate most of the volume, it's pretty much the end for them when it comes to the hype and popularity.

No dex is able to generate decent enough volumes on its own because the demand simply isn't there. I know that it's a wet dream for a lot of people here to see dexes take over, but it's not going to happen any time soon.

It potentially might never happen with how most people don't really have problems with KYC. The amount of effort needed to get dexes off the ground just isn't worth it for anyone, not even for Binance.

esofelap

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Quote from: Finestream on September 11, 2019, 06:00:59 PM

Quote from: esofelap on September 11, 2019, 02:19:53 PM

Quote from: icekohl on September 11, 2019, 11:25:57 AM

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?

That's the nature of decentralized exchange, just like IDEX and Etherdelta (forkdelta), they are all trading only ETH tokens that runs in ETH network, and we called them decentralized because we can access the site without opening an account and complying with the KYC.

However, Binance DEX and IDEX if I'm not mistaken have already started to put some KYC requirement.
In Binance DEX, there are countries that are not allowed to use the platform, so it's not really decentralized.

You are right, I liked Idex before it, there were a lot of different hype tokens.

icekohl

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Quote from: esofelap on September 11, 2019, 02:19:53 PM

Quote from: icekohl on September 11, 2019, 11:25:57 AM

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?

Yes, you can said that. All of the DEXs now only allow you to trade tokens on that blockchain platform, like IDEX and Forkdelta on Ethereum blockchain. If they can solve the problem of cross-chain transaction, they can overcome CEXs in the future.

bitgolden

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Binance dex and binance Launchpad are totally a different thing, the Launchpad is their chain services which they are using for the production of IEO projects, and that is what most of these IEO projects that you see have used for their project, bit when it comes to binance dex, it is another form of exchange, but in this case, a decentralized one that would require transaction between peer to peer like the normal dexes that we see.

It still does not make any difference because people are still using their cex exchange more, despite the fact that the dex is owned by binance and still has the hype that is needed to give them all the volume they need. I have only seen few people use this dex and even I have not used it before also and I think I will try it one day.

Finestream

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Quote from: esofelap on September 11, 2019, 02:19:53 PM

Quote from: icekohl on September 11, 2019, 11:25:57 AM

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?

That's the nature of decentralized exchange, just like IDEX and Etherdelta (forkdelta), they are all trading only ETH tokens that runs in ETH network, and we called them decentralized because we can access the site without opening an account and complying with the KYC.

However, Binance DEX and IDEX if I'm not mistaken have already started to put some KYC requirement.
In Binance DEX, there are countries that are not allowed to use the platform, so it's not really decentralized.

esofelap

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Quote from: icekohl on September 11, 2019, 11:25:57 AM

Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

From your words, I realized that Binance Dex is a centralized platform that runs on its own blockchain?

icekohl

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Binance DEX just allow the token on Binance Chain, so it cannot surpass Binance CEX because Binance CEX integrates all coins and blockchains.
Currently I heard the information that OKEx deploying OK Chain, to be able to compete directly with Binance in the future.

princerepon

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Quote from: freedomgo on September 11, 2019, 02:44:11 AM

Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

No, because it's own by the same company, their only difference is the current popular one is a centralized exchange and Binance DEX is a decentralized exchange. According to the CEO of Binance, he once said IIRC that decentralized exchange is the future of exchange, so if Binance DEX will overtake Binance in terms of popularity, then it will still give benefits to the owner of the exchange which I said the same company.

Of course i know that it's own by the same company and it will give benefits to the owner of the Binance exchange. I just try to said that, is it possible to beat Binance popularity in near future for Binance DEX?

freedomgo

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Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

No, because it's own by the same company, their only difference is the current popular one is a centralized exchange and Binance DEX is a decentralized exchange. According to the CEO of Binance, he once said IIRC that decentralized exchange is the future of exchange, so if Binance DEX will overtake Binance in terms of popularity, then it will still give benefits to the owner of the exchange which I said the same company.

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Quote from: Herbert2020 on September 09, 2019, 12:43:01 AM

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

Exactly, CZ is really ahead of the game and he knows how to play everyone in the ecosystem. They just masked around the buzzword of "DEX" because that's what people wanted to see from them. But from behind you will know that there is no decentralization and would be using their own BNB that could be used for pure manipulation, that includes themselves or some bad actors in cryptoverse. I don't know if we could admire CZ for doing this or if we can call him a genius for putting this up.

esofelap

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Quote from: dunfida on September 10, 2019, 02:59:14 PM

Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

Never.
Binance main exchange wont be beaten up by its Dex.Try to differentiate their focus between the two.You will able to see on which one do get the most attention. Grin

Quote from: Herbert2020 on September 09, 2019, 12:43:01 AM

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

Same inputs and thats the reason i lost up my interest when i do see it on first time. It isnt truly a dex one but an another platform thats used for hyping up their BNB even more.
Well, business as usual.

Are you saying that Binance Dex is no different from Binance, and that it is not a decentralized platform?

dunfida

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Quote from: princerepon on September 08, 2019, 05:37:33 PM

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

Never.
Binance main exchange wont be beaten up by its Dex.Try to differentiate their focus between the two.You will able to see on which one do get the most attention. Grin

Quote from: Herbert2020 on September 09, 2019, 12:43:01 AM

the "binance dex" one is supposed to be decentralized and it is advertised as such but i honestly don't see any decentralization in it. it is still the same centralized exchange which is not even giving service to a bunch of different countries.
in my opinion the main and only difference is that they created the so called "DEX" exchange so that they could market their own centralized coin called BNB and pump it more which is exactly what they did.

Same inputs and thats the reason i lost up my interest when i do see it on first time. It isnt truly a dex one but an another platform thats used for hyping up their BNB even more.
Well, business as usual.

atjiat

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I really like Binance and have been using this trading exchange for quite some time. Moreover, I was convinced that token BNB is also a very promising and profitable investment. But I still have questions regarding the status of a decentralized exchange for Binance. I have repeatedly found in the media that the Binance team has stated that they have every opportunity to block user accounts, or to block their funds if someone is noticed in fraud or at the request of law enforcement agencies. I have nothing against this, but what is decentralization here?

Bunsomjelican

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Quote from: princerepon on September 08, 2019, 05:37:33 PM

What is the different between Binance and Binance Dex..? Is Binance Dex an exchange platform like Binance or a lunchpad...?

What are those pair actually means - PYN-C37/BNB, EVT-49B/BNB, CRPT/BNB, AXPR-777/BNB, BZNT/BNB, UND-EBC/USDSB-1AC.

Is possible to trade in Binance Dex like Binance..?

#Update 1:
1. Is it possible that one day Binance DEX beat the main Binance exchange...? (Just Curious Cheesy

)

Their differentiate was on Binance in my view of this things it is centralized based platform that has a KYC submission if you want to upgrade your account on Binance.com while on Binance Dex was under by Binance but not requiring KYC to all traders who it, just same goes with
Binance Jex, in short, it is decentralized based concept.

Topic: Different between Binance and Binance Dex. (Read 364 times)