How Binance Decentralized Crypto Exchange Launch in 2019 Will Impact the Market - page 3.

pawel7777

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Quote from: bitmover on October 01, 2018, 07:47:51 AM

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I love services such as shapeshift and changelly. They don't require kyc and are fast, However expensive for high amounts.

Changelly have transaction limits, which are definitely too low for high profile traders. Shapeshift unfortunately recently shifted their model and now require user verification:
https://news.bitcoin.com/shapeshift-membership-user-information/

Quote from: bitmover on October 01, 2018, 07:47:51 AM

Maybe binance will require kyc, but a few months later many other exchanges will copy their model and make other Dez without kyc.

For that reason I don't think Binance will be rushing in making transition. They would have to set their fees pretty low to make it harder for anyone wanting to copy their solutions.

bitmover

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bitcoindata.science

The problem with ether Delta is that you can only trade erc20 token there.

I love services such as shapeshift and changelly. They don't require kyc and are fast, However expensive for high amounts.

Dex will be much cheaper than those services.
Maybe binance will require kyc, but a few months later many other exchanges will copy their model and make other Dez without kyc.

pawel7777

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Smart move, but I wonder what would this change from legal perspective, ie whether Binance would still be required to verify customers ID, since they would be no longer holding funds on anyone's behalf. I'm guessing Yes, as I don't see any government giving green light to non-regulated, anonymous platform, not in a long run that is.

So the main and only benefit will probably be a shift in control/responsibility of one's funds.

On the other hand, this could be just a PR move to prevent people from moving to EtherDelta and alike, or to deter other devs from developing their own decentralised platforms.

bitmover

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bitcoindata.science

Quote

how Binance Decentralized Crypto Exchange Beta Launch in 2019 Will Impact the Market
https://www.ccn.com/how-binance-decentralized-crypto-exchange-beta-launch-in-2019-will-impact-the-market/

Binance, the world’s largest crypto exchange by daily trading volume, is set to launch a beta version of its decentralized exchange (DEX) by early 2019.

Changpeng Zhao, the CEO of Binance better known to the community as CZ, said on Saturday:

“Just had a productive meeting for Binance DEX (decentralized exchange), where BNB will be native gas, and the exchange don’t control user funds. Aiming for a public beta end of the year/early next year. Yes, we work on Saturdays, non stop.”

Why is Binance Launching a DEX?

In July, on CNBC Crypto Trader hosted by Ran Neuner, CZ stated that he personally believes decentralized exchange is the future of crypto.

In the long-term, CZ explained that users will be able to utilize non-custodial wallets to trade cryptocurrencies in a peer-to-peer manner with full control over their funds.

“I believe that decentralized exchange is the future. I don’t know when that future will come yet. I think we’re at an early stage for that so I don’t know if it’s a year, two years, three years, or five years. I don’t know but we got to be ready for it,” he said.

That's indeed good news.
Binance is a very good exchange, and they will probably make a good work with Dex.
As they have money, it can be safe an easy to use. I agree with him, Dex are the future.

binance has never been hacked, but they have few month in the market.

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