Topic: How do you choose DEX? How to avoid scam? - page 7. (Read 1894 times)
I have never used binanceDEX and maybe one day i will try to trade there, but for etherdelta and forkdelta when bounties are distributed i usually sell them there. Now I rarely use it anymore because there is a better IDEX to use
I think all exchanges should be decentralized. Especially the increase in hacking incidents in the Central exchanges makes me think that way. I find decentralized exchanges much safer for that. Binance is aware of this, and that's why Binance launched DeX. But before that there were also very high quality decentralised exchanges. But I don't think any exchange will be as safe and high quality as Binance's exchanges
Decentralised and centralised are both prone in hacking so its not guranteed that using dex will make your money secured. I remember this etherdelta incidents before they move to fork delta there are users have a problem with thier token and balances and also many user complaininh abiut possible hacking that happen.yes you're right, DEX isn't completely safe. the best way to secure our assets is always to be careful. so no matter what exchange we use, as long as we're not careless, I think we're safe enough. and don't hold coins in an exchange wallet. use a personal wallet because this is the safest way.
I usually use Etherflyer and Bancor, but some of my friends suggest instant exchanges like ChangeNow and Atomic Wallet, I think besides DEX exchange, we can use this instant exchange, but now there are many Dapp platforms that have lots of DEX exchanges.
https://dappradar.com/rankings/protocol/eth/category/exchanges
https://dappradar.com/rankings/protocol/eth/category/exchanges
if I use the platform idex, forkdelta, binance because in my opinion the three platforms are very reliable and safe. And make sure to avoid phishing links before accessing your account
in order to not to be scamed by the various dex i use only the larger ones and those recommended by other users that i trust, for new ones i just wait to read so many positive reviews before trying them, i use forkdelta for tokens eth, tronmarket for tokens trx, i used also idex in the past but not anymore since it requires kyc...
All (almost) all DEX are operated by contracts, the security level is almost the same on every DEX.
So most important for me is the Trading Volume and Order Books gap on the particular coin I'm looking to trade.
BTW. On DEXs - always check the Token Contract Address when you are going to trade. In the past few years, I saw on more than one occasion trades on Old contracts on the new prices.
Or because of duplicate Abreviatures/Names. Example of the new McAfeeDEX:
I use DEX because of its good reputation from the users. It is true that the dex is powered by smart contracts and that's why we can ensure the safety of our funds. The DEX that I using today is a friendly user which means it is easy to understand. So most important for me is the Trading Volume and Order Books gap on the particular coin I'm looking to trade.
BTW. On DEXs - always check the Token Contract Address when you are going to trade. In the past few years, I saw on more than one occasion trades on Old contracts on the new prices.
Or because of duplicate Abreviatures/Names. Example of the new McAfeeDEX:
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?
I think DEX which is already well known and is often used by all parties is Forkdelta. Etherdelta is also part of Forkdelta, the display if I think Forkdelta is better than Etherdelta. In terms of lightness, Forkdelta is also lighter.
But now the newly emerging DEX and getting support from many parties is BinanceDex. But the difference is that BinanceDEX cannot use smartcontract to sell tokens. I think the strength of Forkdelta is that it can sell tokens using smart contracts.
First of all, it depends on which tokens you want to trade. Then, I'd always use the ones with the highest liquidity. As DEXes generally have rather low liquidity, going to the top DEX makes a ton of sense. If the token you want to trade isn't listed there, then, well, you might want to reconsider even trading that token.
I have come across so many DEXes, but when I take critical look at them again, there is this doubt that pop up, if they are truly DEXes. Nevertheless, we need decentralized exchanges, most especially those with high 24 hours volume. If there is regular trading on a DEXes, a lot of people will show interest in them, because that has been the major problem.
because right now there are too many dex's, I think it's good to consider choosing to learn dex originating because now many large cex exchange also make dex exchange, the rest may be new dex that are popping up and this is usually dangerous one which is not good and also makes suspicion that dex might be a scam.
I thought that you can´t be scammed by a DEX exchange because DEX are based on smart-contracts, you are not giving away your funds so there is practically zero chance of being scammed. Even the site will not work, you can call the smart contract to get your funds back. 
There are possible security glitches that can lead to losing of funds. Scammers can spam their own tokens too like Waves DEX. It's messy. I still prefer the high volume exchanges than present DEX. Exchanges have more funds for security and better, easier interface for its customers than DEX.
I thought that you can´t be scammed by a DEX exchange because DEX are based on smart-contracts, you are not giving away your funds so there is practically zero chance of being scammed. Even the site will not work, you can call the smart contract to get your funds back.
All (almost) all DEX are operated by contracts, the security level is almost the same on every DEX.
So most important for me is the Trading Volume and Order Books gap on the particular coin I'm looking to trade.
BTW. On DEXs - always check the Token Contract Address when you are going to trade. In the past few years, I saw on more than one occasion trades on Old contracts on the new prices.
Or because of duplicate Abreviatures/Names. Example of the new McAfeeDEX:
So most important for me is the Trading Volume and Order Books gap on the particular coin I'm looking to trade.
BTW. On DEXs - always check the Token Contract Address when you are going to trade. In the past few years, I saw on more than one occasion trades on Old contracts on the new prices.
Or because of duplicate Abreviatures/Names. Example of the new McAfeeDEX:
since the exchange of DEX IDEX has to KYC I no longer use IDEX exchange.
that's not so "dex" anymore
I consider the ethereum platform strongly disappointing, I don't know why eth still concentrates so many projects. From time to time the network has a problem, fees go up, everything gets slow. Other platforms have more efficient decentralized exchanges and lower fees. eos, tron, stellar, waves...they may not be perfect, but they point the way forward.Honestly, I was shocked when I heard of this news regarding the IDEX exchange about a month ago. I remember that a year ago I sold my ERC20 tokens on this trading platform using the Metamask plugin installed in my browser, and ID verification was not required there. Now all their users must complete the KYC procedure to continue trading cryptocurrencies. In my opinion, a decentralized exchange should be safe and ensure high confidentiality. I am glad that I withdrew ETH coins before they imposed KYC.
I currently prefer Forkdelta. Recently they have received a lot of donations from its users, so the bid/ask orders appear quickly enough.
Maybe we can choose a DEX with high volume, because DEX volume is hard to make with fake volume.
On centralized exchange, there are many fake volumes, but DEX should not too much because you need gas/fee every time you buy or sell.
Phishing method is very common in DEX, so we must double check the website we use for DEX.
On centralized exchange, there are many fake volumes, but DEX should not too much because you need gas/fee every time you buy or sell.
Phishing method is very common in DEX, so we must double check the website we use for DEX.
I've never used Binance Dex before. I usually use newdex because I trade with eos in general. I'd say it's my favorite exchange of decentralized stock markets. It also has dApp, which is supported by many eos wallets including meet.one. It's quite handy and the interface is amazing. The volume on the exchangeis also quite high. So my favorite is Newdex for it.
DEX exchanges have variable choices but some of the mentioned exchanges have a low or tiny volume which can be a problem in the future for the day traders. IDEX started to require an account registration instead of using the private key(Mnemonic phrase or JSON file) for the starting the trading activity. The Binance DEX also have an advantage compared to the Forkdelta but the old version of Forkdelta was more useful in my opinion.
You mentioned forkdelta, I'm an old time trader on forkdelta but the aspect I don't like about it is unofficial listing with smart contract, since it usually leads to dump in token price. Some people who are desperate to sell their tokens or those who want to buy from the desperate ones list unofficially on forkdelta before official listing by the project team. My best three DEX include BINANCEDEX, IDEX and WAVESDEX. I look out for fair trading volume, good user interface and fair operation speed when choosing a decentralized exchange.
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?
Actually choose DEX as an exchange only when new coins are listed on the DEX exchange. For trading, I rarely use the DEX platform. Because the DEX platform has no variations. Moreover, you give an example of altcoin.io. I have never used it, so I cannot comment on this exchange. While Etherdelta is a limited exchange platform, only erhereum coins support.
I think all exchanges should be decentralized. Especially the increase in hacking incidents in the Central exchanges makes me think that way. I find decentralized exchanges much safer for that. Binance is aware of this, and that's why Binance launched DeX. But before that there were also very high quality decentralised exchanges. But I don't think any exchange will be as safe and high quality as Binance's exchanges
Decentralised and centralised are both prone in hacking so its not guranteed that using dex will make your money secured. I remember this etherdelta incidents before they move to fork delta there are users have a problem with thier token and balances and also many user complaininh abiut possible hacking that happen. 
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?
Actually choose DEX as an exchange only when new coins are listed on the DEX exchange. For trading, I rarely use the DEX platform. Because the DEX platform has no variations. Moreover, you give an example of altcoin.io. I have never used it, so I cannot comment on this exchange. While Etherdelta is a limited exchange platform, only erhereum coins support.
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