Topic: How do you choose DEX? How to avoid scam? - page 5. (Read 1858 times)
for most of us i think its dex that chooses us especially if the tokens you have is only listed on one dex alone. most of the time its just the etherdelta and forkdelta are the ones listing ERC tokens. say you are holding "Epstein didn't kill himself" today, there ain't no dex listing this token but Macafees DEX which the reason you may be going there is you happen to have got such token. i have no idea by the way if its already launched but that is going to be expected.
I am still trading on IDEX, because in my opinion it is one of the best exchanges in a decentralised sphere. However, not a long time ago, they included a KYC process which reduced their decentralisation level, but it is still one of the best exchanges.
Forkdelta / Etherdelta, IDEX and Binance decentralized exchanges are some of the more popular choices for trading tokenized assets nowadays, but make sure you use apps like Metamask to protect your private keys when using these types of services and double check you're using the right contract addresses to avoid fake assets
the criteria that I rely on are of course the volume and also the supply. for example binance, eterdelta and okex. and also the criterion especially with using KYC to be able to make transactions.
etherdelta is not having a lot of volumes and there is no correlation between supply and the credibility of the dex itself. Binance is not a dex but it's a centralized exchange site that used decentralized gimmick as a marketing trick. Okex is also a centralized exchange too and i can't even see what was the point from your post. Finally somebody who can point out Binance for running a scam.
I'm using Blocknet's DEX, and I simply love it. First DEX on the market, and works like a charm.
I'd like to discuss DEX exchanges and its variety.
There are many of it, and top-lists of top DEX exchanges are appearing often as well (here's an example for 2019). After reading one of the latest articles about it, I started to think -- there's too much info and not all of it is trustworthy. Reading reviews, comparing fees... I'd like to know which DEX platform you use and how did you make a decision about it?
Could you tell if you stick to one particular platform or use several of them? What criteria did you rely on?
There are many of it, and top-lists of top DEX exchanges are appearing often as well (here's an example for 2019). After reading one of the latest articles about it, I started to think -- there's too much info and not all of it is trustworthy. Reading reviews, comparing fees... I'd like to know which DEX platform you use and how did you make a decision about it?
Could you tell if you stick to one particular platform or use several of them? What criteria did you rely on?
Just as you have rightly said, there are a lot of DEX out there and in as much as it is very convenient, secure and private to be incharge of your funds when using a DEX, There are so some down sides which has posed as a deterrent to traders. My advice for you is to only consider DEX that gives the option of metamask utilization. With metamask you are save from scam and phishing sites
the criteria that I rely on are of course the volume and also the supply. for example binance, eterdelta and okex. and also the criterion especially with using KYC to be able to make transactions.
etherdelta is not having a lot of volumes and there is no correlation between supply and the credibility of the dex itself. Binance is not a dex but it's a centralized exchange site that used decentralized gimmick as a marketing trick. Okex is also a centralized exchange too and i can't even see what was the point from your post. the criteria that I rely on are of course the volume and also the supply. for example binance, eterdelta and okex. and also the criterion especially with using KYC to be able to make transactions.
etherdelta is not having a lot of volumes and there is no correlation between supply and the credibility of the dex itself. Binance is not a dex but it's a centralized exchange site that used decentralized gimmick as a marketing trick. Okex is also a centralized exchange too and i can't even see what was the point from your post.
1. Etherdelta - I've first used decentralized exchange.
2. IDEX - also one of the ones I've used up to now.
3. Forkdelta- this is what I use to sell and buy coins / tokens that are not yet listed on the market and to avoid high centralized exchange fees.
2. IDEX - also one of the ones I've used up to now.
3. Forkdelta- this is what I use to sell and buy coins / tokens that are not yet listed on the market and to avoid high centralized exchange fees.
the criteria that I rely on are of course the volume and also the supply. for example binance, eterdelta and okex. and also the criterion especially with using KYC to be able to make transactions.
To avoid scam DEX, just look at those exchanges that have been operating for a long time and have a good reputation. For example, forkdelta.app is suitable for ERC20 tokens, stellarport.io is suitable for tokens based on Stellar, you can use tronwatch.market for tokens based on TRON.
Or you could use Blocknet's DEX, which has been around the longest. Early next year it's gonna be way more convenient to use due to the release of a lightwallet with the DEX integrated into it.
To avoid scam DEX, just look at those exchanges that have been operating for a long time and have a good reputation. For example, forkdelta.app is suitable for ERC20 tokens, stellarport.io is suitable for tokens based on Stellar, you can use tronwatch.market for tokens based on TRON.
Trying not to use exchanges I have never heard about before. And usually using centralised exchanges, they have more volume and working without blockchain bugs 
Well most of the scams nowadays are coming from a newly released centralized exchange which the people behind that platform have absolute power over anything happens within the platform meanwhile most of new DEX are just reusing the existing codes from reliable sources which has been reviewed by the communities and im pretty sure that a new dex is a lot safer than new centralized exchange only if the code is legit. 
Trying not to use exchanges I have never heard about before. And usually using centralised exchanges, they have more volume and working without blockchain bugs
Definitely, the people have judge and we can see a big portion of the total volume in the market are coming from centralized exchange. if a decentralized exchange gets compromise, there's no one we can go after, so its not really wise to trade with a big amount of money in decentralized exchange, the confidence of the people are on the centralized exchange that's why they got the success more in crypto.
CZ said the future of exchange is DEX, but look at Binance DEX, it doesn't have enough volume to compete on a decent centralized exchange.
Trying not to use exchanges I have never heard about before. And usually using centralised exchanges, they have more volume and working without blockchain bugs
I'm the type of person who doesn't want to be complicated. so I only choose DEX that already has very good reviews and reputations, like Fork / Ether Delta, DDEX, IDEX, and TokenStore... I heard there is a good new DEX namely Binance DEX but I haven't tried trading there, maybe later I will try trading there.
If DEX can handle the issue of scalability and volume, DEX would have been better than CEXs which are centralized exchange. The only DEX I do use once in a while is forkdelta which I do use to buy some Ethereum token before they list them on centralized exchanges.
Personally I don't use a lot of DEX since most of them has a very little volume, its not good for active trading unless there's always an opportunity to buy tokens with the cheapest value that I see has potential.
Some of the DEX I've used in the past that I don't encounter any problems are the following.
1) IDEX
2) Forkdelta
3) Etherdelta
4) Waves DEX
not sure about the other exchange listed in the link you provided.
-----------------
maybe the altcoins season will come back again, the volume of these exchanges will rise but if I can trade in one exchange I would prefer to just stay to minimize the risk.
I am sure the altcoin season will bring back the gold old days but the DEXs have to be improved until that day or year. The small volume and illiquid market conditions on the DEXs is the reason I hesitate to send my altcoins for trading there. IDEX has already implemented the account limits and it is now impossible to use the IDEX with entering the private key for the trading. The illiquid market in Waves DEX doesn't give the best price rates AFAIK. Some of the DEX I've used in the past that I don't encounter any problems are the following.
1) IDEX
2) Forkdelta
3) Etherdelta
4) Waves DEX
not sure about the other exchange listed in the link you provided.
There are many of it, and top-lists of top DEX exchanges are appearing often as well (here's an example for 2019). After reading one of the latest articles about it, I started to think -
-----------------
maybe the altcoins season will come back again, the volume of these exchanges will rise but if I can trade in one exchange I would prefer to just stay to minimize the risk.
Big fan of the Blocknet DEX here.
Below is some of the most popular DEX's compared to Blocknet's DEX. You could argue that Blocknet lacks in volume though, which is totally true, but we need more volume on all DEX's for them to be worth trading on IMHO.
Made me chuckle a bit haha, it is true though that no mattet how best the DEX is the problem still remain they are lacking the volume to work properly as an exchange which should provide liquidation even not only Blocknet’s DEX but many of DEX aswell even Binance DEX which is far behind compared toits conventional exchange. I’d just use the most reliable dex since long wgo which is Etherdelta but only ERC20 token and the rest of coin I will use Binance DEX although it is not a true DEX but atleast it is safe alright.Below is some of the most popular DEX's compared to Blocknet's DEX. You could argue that Blocknet lacks in volume though, which is totally true, but we need more volume on all DEX's for them to be worth trading on IMHO.
You can "chuckle" all you want. It's true that most DEX's right now lacks liquidity and volume, but I think you're forgetting, that we're in a huge bear market still. Once the bull run returns, and a HUUUGE number of people returns, there is no doubt in my mind, that we will see a LOT of people using these DEX's. Especially those who wants to stay anonymous, and want to hide their trading histories from the tax man.
If DEX's had enough volume and liquididy already, Blocknet and a few other DEX projects would already be evaluated at 10x - 100x their current marketcap, hence why it's interesting to speculate on the price NOW, where these DEX's aint that popular yet.
Same logic as saying "Naah, man.. Binance is a SHIT exchange, Cryptopia and Yobit has better volume, so not buying this crap token BNB at $0,10"
It depends on the coin or token what you would like to trade. For example you can´t trade diffrent coin than ETH and ERC-20 token on IDEX because IDEX is based on Ethereum smartcontract.
And if the exchange is truly decentralized than there is no way how to become scammed.
And if the exchange is truly decentralized than there is no way how to become scammed.
The main issue is that Etherdelta/Forkdelta allows to trade only tokens on the ethereum blockchain, Binance Dex allows to trade only tokens on Binance Chain.
At the same time AtomicDex allows to exchange coins and tokens between various blockchains like BTC, LTC, ETH, DASH, RVN, ZEC...
the confrontation between many decentralized exchanges is only just beginning. I think that very soon we will see some kind of exchange that will be universal and most convenient to useAt the same time AtomicDex allows to exchange coins and tokens between various blockchains like BTC, LTC, ETH, DASH, RVN, ZEC...
Jump to: