Topic: How do you choose DEX? How to avoid scam? - page 9. (Read 1876 times)
DEX is a good one as it is in a decentralized manner, which means that there is no central authority involved in it. With this, users will be able to trade in a p2p way. Choose DEX that guarantees the safety of online exchanges. To avoid scams, it is important that you know well the exchange that you are dealing with, make sure it has high reputable from users, don't trust those who are new DEX in that kind of industry.
I prefer to use old DEXes because of their reputation. IDEX and forkdelta are the DEXes I use because they have good reputation and have stayed consistent for quite a good number of years. The interface of both DEXes have user-friendly features to enable easy navigation as well. The best way to avoid scam is to cross the URL in order not to give ones details to fake or phishing sites.
I only use Idex.market to trade tokens, and I have a terrible experience with etherdelta, so I don't want to use their exchange again. But if somehow, the token is only available on etherdelta, I might be traded on that exchange, especially if the price is very high on that exchange. But I don't have the requirement to choose the DEX because I don't use the other decentralized exchange because I think it's almost the same between one decentralized exchange with the others exchange.
1. BinanceDex - the name of the exchange speaks for itself. But in reality this is not a true dex.
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
I am not a user of a DEX today, actually ever since IDEX ceased to be a DEX anymore. But BinanceDEX has caught my attention since it is a product of the same exchange platform which I am currently using. I was a user of Etherdelta which eventually transformed into ForkDelta after trying to appear cleaner with all those bad history in its records. After the name change, I stopped using it. That was also the time when I started to focus on the top coins which are already admitted on the largest exchanges.
Etherdelta is a true DEX right now. This year, we have seen some reputed exchanges opened their own DEX like Binance DEX, Vite labs Dex, Populous Dex (On the way), and so on. But only Etherdelta, Tokenjar exchanges are the sign of true decentralization, otherwise, you will need KYC or you will have some limits on other DEX exchange. DEX is scam-free if you don't click on phishing links.
There are many cryptocurrency decentralized exchanges has been created now, we need to use only the legit one.
Binance dex maybe a good option for crypto users, or if you want to trading eth or the tokens, idex is good.
Binance dex maybe a good option for crypto users, or if you want to trading eth or the tokens, idex is good.
I guess some centralized DEX just like binance, idex should not be included in this list but you can try to use the trusted dex just like ED and FD, for me both are truly decentralized exchange sites without a lot of requirements to the users.
Some dexs that built on 0x platform are worth to try. You can see tis list and the dexs already listed on this article is worth to try
https://coinfunda.com/best-decentralized-exchanges/
Almost all of them can be trusted and the only point if you can't argue if binance and idex are centralized because it was creating so many rules that already used by centralized exchange site just like KYC verification.
Some dexs that built on 0x platform are worth to try. You can see tis list and the dexs already listed on this article is worth to try
https://coinfunda.com/best-decentralized-exchanges/
Almost all of them can be trusted and the only point if you can't argue if binance and idex are centralized because it was creating so many rules that already used by centralized exchange site just like KYC verification.
ED and FD are next to the popular ones these days. There were some of the DEX on the list that I don't really know. Before it was IDEX that was preferred by most but it all sudden changed when they required us for KYC.
Avoiding scam dex is easy, don't rely to the new DEXes because they might be a scam and also volumes can be faked.
Avoiding scam dex is easy, don't rely to the new DEXes because they might be a scam and also volumes can be faked.
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.
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.
Choose a DEX that you're comfortable with using and has good volume and liquidity for whatever main pairs you plan on trading with. I've always been a fan of the Waves DEX because it's been out for a relatively long amount of time compared to a lot of the newer decentralized exchanges out there, and it's got decent volume on most major altcoin pairs as well.
I've also been checking out IDEX recently and it seems to be yet another decent decentralized exchange that features TradingView integration and a relatively easy-to-use UI compared to a lot of other decentralized exchanges out there; however, according to the exchange's TOS (click for link), the site could ask for KYC documents without warning and lock your account until these documents are submitted in the event that they detect something with your account. Doesn't seem very decentralized to me in this case.
I've also been checking out IDEX recently and it seems to be yet another decent decentralized exchange that features TradingView integration and a relatively easy-to-use UI compared to a lot of other decentralized exchanges out there; however, according to the exchange's TOS (click for link), the site could ask for KYC documents without warning and lock your account until these documents are submitted in the event that they detect something with your account. Doesn't seem very decentralized to me in this case.
1. WavesDex
2. BlocketDex
3. BinanceDex
This are the best DEX in my opinion and most of them are from strong projects like Waves and Blocknet which I think they will have a bright future in the next year with a significant increase in prices and tech. Waves is the best place for dApps with a lot of devs developing such applications and with Blocknet I think there are no more words about them as they always deliver high technology so here its just a matter of time until Blocknet jumps in top 50 on coinmarketcap.
2. BlocketDex
3. BinanceDex
This are the best DEX in my opinion and most of them are from strong projects like Waves and Blocknet which I think they will have a bright future in the next year with a significant increase in prices and tech. Waves is the best place for dApps with a lot of devs developing such applications and with Blocknet I think there are no more words about them as they always deliver high technology so here its just a matter of time until Blocknet jumps in top 50 on coinmarketcap.
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.
I mainly use IDEX for trading mostly ERC20 tokens. I used switcheo some time ago for trading NEP5 tokens but I don't know if it's still functional. Binance DEX is where I trade my BEP2 tokens and it's the best from my own personal experience. Main features I consider in a DEX is reputation to avoid scam, average to high speed of operation, fair trading volumes (which is generally low or average for most DEX), and user interface.
1. BinanceDex - the name of the exchange speaks for itself. But in reality this is not a true dex.
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
from your list above i always use etherdelta/forkdelta because it's already save and i think this exchange is the first DEX exchange in the crypto scene
and binancedex i never use this because i don't have any coin in the binance chain
snip-- 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?
Depends on the condition. I use DEX often to sell tokens from reward bounties. Quite a number of people use DEX because they are impatient waiting for official listings from the developer team, so they make their own offers.Could you tell if you stick to one particular platform or use several of them? What criteria did you rely on?
For erc20 tokens, forkdelta is usually the main target, in the past, around 2017 it was still worth trading there, but this is not the case now. If there are other alternatives, I prefer Idex, the volume is bigger. The best choice for dex exchange is, of course, Binance dex, many members have explained it here.
binanceDEX seem to be the first recommendation nowadays. years ago it was just ether and forkdelta that i kept using but there are still tokens that aren't listed there.
there is also one dex that has cheaper fee like the WAVESplatform, its dex doesn't have more coins but had recently added feature which I've read ERC20 tokens can now be added. there will be more DEX that will be launched in the coming years some are just not ready to introduced for use.
I don't have specific criteria because from the beginning I rarely use DEX. there are many reasons why I am not interested in using DEX, one of which is the trading volume that is very much different than CEX.
but sometimes I also use it also to sell tokens / coins that I get from bounty / airdrop. The DEX that I use quite often is forkdelta / etherdelta. recently I also tried BinanceDEX, I see this DEX has a large enough volume compared to other DEX. but this exchange is not able to compete with CEX.
but sometimes I also use it also to sell tokens / coins that I get from bounty / airdrop. The DEX that I use quite often is forkdelta / etherdelta. recently I also tried BinanceDEX, I see this DEX has a large enough volume compared to other DEX. but this exchange is not able to compete with CEX.
I often use the Forkdelta DEX exchange because it's an old DEX exchange and I like to use it because there hasn't been the slightest problem, though sometimes the price of token disposal is there.
I also like IDEX like Forkdelta but since the exchange of DEX IDEX has to KYC I no longer use IDEX exchange.
I also like IDEX like Forkdelta but since the exchange of DEX IDEX has to KYC I no longer use IDEX exchange.
1. BinanceDex - the name of the exchange speaks for itself. But in reality this is not a true dex.
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
2. EtherDelta / ForkDelta - old proven exchangers. There was never a problem with them. True Dex. Only Ethereum tokens.
3. Idex - also never have problem with this exchange. It's not true Dex. Now KYC verification nedeed.
4. Komodo AtomicDex (betha now).
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