Future of crypto exchanges - page 3.

Eureka_07

sr. member

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Binance #SWGT and CERTIK Audited

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join? For example coinEX and kucoin? How about Dex exchange? Any good one in mind? I used uniswap in the past but high gas fee made me quit.

I thought this compulsory KYC verification will just be for those recently created binance accounts. Isn't it? Or I have some misunderstanding about their notifications about this matter.
I am still able to trade and withdraw in my account, however my partner's account can't do anything unless undergo in KYC and get verified.

Jawhead999

legendary

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Quote from: Jawadu on October 10, 2021, 04:04:18 AM

Many people are always talking good about DEX exchanges but they forget to talk about how people are losing money every day with fake tokens which are listed in DEX exchanges! Everything has its PROS and CONS, so do not trust DEX that is safe in 100% because crypto technology has a lot of surprises.

The fake tokens itself is not from the exchanges, but those scammer who create it with fake contracts!

Those ETH BSC DEX (e.g. uniswap, pancakeswap, sushiswap, isn't really 100% DEX it just a typical way to make people feel safe as they heard decentralization. They have a poor security and poor smart contracts code, even more BSC is just copy paste the ETH source code.

Take a look of @Charles-Tim posted above, that's a 100% DEX.
Does 3 DEX above has a hacked history? No.
Does uniswap, pancakeswap, sushiswap ever got hacked? Yes.

hugeblack

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Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join? For example coinEX and kucoin? How about Dex exchange? Any good one in mind? I used uniswap in the past but high gas fee made me quit.

The continuation of the work of the centralized platforms without KYC depends on two things:

- The amount of traditional financial services provided by the platform, such as margin, futures contracts, cash withdrawals, deposits and withdrawals from banks, and others, the more the platform’s relationship with traditional financial services increases, the more likely it will verify identity.

- Did the platform encounter any legal problems in any country? If this happens, things will accelerate and severely.

If the platform succeeds in solving these two problems, they will be left with the option to verify identity or not.
Identity verification means commitment to headquarters and ensuring that no tampering occurs.

Jawadu

jr. member

Activity: 222

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Bounty Campaign Manager

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join? For example coinEX and kucoin?

Some exchanges may follow Binance steps since it is the leading exchange, I also can't use all services in Binance because I've not passed their KYC due to the documents that they want. But there are many altenatives for Binance, I still feel safe using exchanges like Gate, Coinbase, and some wallets that require KYC.

Quote

How about Dex exchange? Any good one in mind? I used uniswap in the past but high gas fee made me quit.

Many people are always talking good about DEX exchanges but they forget to talk about how people are losing money every day with fake tokens which are listed in DEX exchanges! Everything has its PROS and CONS, so do not trust DEX that is safe in 100% because crypto technology has a lot of surprises.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join?

Still enjoy the ones that are still existing until then, but crypto is getting more regulated, more exchanges will want to comply with government anti-money laundering and counter-terrorism financing policies. It is not also about how long, there can still be unregulated exchanges, but if they are inferior to regulated ones, coiners will not want to risk their coins. Some can completely go for decentralized exchanges.

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

How about Dex exchange? Any good one in mind? I used uniswap in the past but high gas fee made me quit.

Many of the Dex you with high liquidity and trading volume are just ethereum based exchange, that is why you will not be able to exchange some coins like bitcoin on the exchange and you can not convert to fiat directly. If you want a decentralized exchange that you can also convert to fiat, I will suggest you:

https://bisq.network/
https://hodlhodl.com/
https://localcryptos.com/

For the ones you meant, you can check this link:
https://coinmarketcap.com/rankings/exchanges/dex/

suzanne5223

hero member

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Want top-notch marketing for your project, Hire me

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join? For example coinEX and kucoin?

Right from the beginning, every CEX is regulated by the SEC and I believe they don't compulsory KYC verification just do it to gain users from the crypto community (within decentralization enthusiast). We should expect them to compulsory KYC verification when it is time. Coinbase, etc do this so will the remaining CEX not even now that Biden said he want crypto to be regulated.

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

How about Dex exchange?

DEX is the best alternative in this situation

Quote from: XUR_TIP on October 10, 2021, 01:10:58 AM

Any good one in mind? I used uniswap in the past but high gas fee made me quit.

Uniswap is a ETH based dex exchange and it was the huge ETH traffic that cause the high gas fee. However, dex like Mdex, Pancakeswap, Sushiswap, etc has a fair tx fee.

XUR_TIP

member

Activity: 227

Merit: 24

Now that binance exchange have compulsory KYC verification it seems that the door is open for people like we to move out and look for other options, the question is how long will it takes for other exchanges to join? For example coinEX and kucoin? How about Dex exchange? Any good one in mind? I used uniswap in the past but high gas fee made me quit.

Topic: Future of crypto exchanges - page 3. (Read 441 times)