Topic: Is IDEX a safe exchange to use. They have an option that asks for private keys. (Read 1057 times)
May 19, 2019, 05:35:32 AM
I have used IDEX exchanger multiple times and it seems safe to me a lot so I do not think anyone can loss anything for using IDEX exchanger if there is not anything wrong like stolen fund as it was happened for a lot of exchanges.
May 18, 2019, 02:05:41 AM
but the main issue her is :
is it a safe place place to leave my coin there ?? i don,t think there is any safe place unless u have yr own PVT KEYS for yr wallet .
so all coins on the exchange even if its DEX r not safe
is it a safe place place to leave my coin there ?? i don,t think there is any safe place unless u have yr own PVT KEYS for yr wallet .
so all coins on the exchange even if its DEX r not safe
Any DEX is not made to function as your private wallet, so of course, it's still not safe even though you're basically just interacting with their contract.
They never promote them as a safe place to store your asset so I guess any user would know that they're just an exchange. Just remember, no private key, not your coins.
May 17, 2019, 11:21:42 PM
but the main issue her is :
is it a safe place place to leave my coin there ?? i don,t think there is any safe place unless u have yr own PVT KEYS for yr wallet .
so all coins on the exchange even if its DEX r not safe
is it a safe place place to leave my coin there ?? i don,t think there is any safe place unless u have yr own PVT KEYS for yr wallet .
so all coins on the exchange even if its DEX r not safe
May 17, 2019, 11:18:30 PM
mmmm
i use meta mask chrome extention .. with my main wallet .
meta mask is the one who deals with the IDEX securely ... so i don,t think there is any thing that worries
i use meta mask chrome extention .. with my main wallet .
meta mask is the one who deals with the IDEX securely ... so i don,t think there is any thing that worries
November 22, 2018, 08:35:32 AM
Not really sure why they have that option. Its like giving the keys to the house to a stranger.
it is because it is a decentralized dex, you just dont use your main eth wallet. make a new mew wallet then pass the coin or token you wanna sell with some eth for transaction fee.
November 15, 2018, 03:09:28 AM
Not really sure why they have that option. Its like giving the keys to the house to a stranger.
They've become the worst exchnage. Now they r positioning themselves as non-DEX. It's stupid. They implemented KYC. sorry, what??
They really don't know there are many-many competitors? Brand new exchanges offer better conditions now. EtherMium, for instance. Recommend IDEX to google, really noteworthy exchange. And not only this one. Take into account old ones (Bitshares etc.).
September 10, 2018, 08:28:35 AM
It is never safe to put your private keys on a third party website. I think the best one can do is to create another wallet for that purpose or better still use metamask which is safer.
May 04, 2018, 11:21:27 AM
Quote
Put in another way, to have to use decentralized exchanges, we"re going to have to divulge our private keys and as such it ceases to be private. That's highly undesirable and maybe in the future it's going to be improved upon, so for anyone interested in using this exchange, best option is as suggested above or continue with centralized exchanges.
Hello guys , i am sorry for all those IDEX users. However, i believe that the divulging of private keys is no longer necessary and a lot of new safety measures have been implemented, at least for other exchanges. I have been using Ethen ( ethen.market ) , which is a new DEX and i find it very useful, you dont even need an account ! i haven't encountered any issues so far and it is very fast !
April 19, 2018, 09:37:49 AM
I was searching about IDEX and found this thread , Hmmm most of the people posted here do not know how decentralized exchange is working !
Simply never import your own private keys of your main wallet , just make a new disposable wallet and only transfer money ETH or tokens to it When/If need to make trade . It is the same thing with every decentralized exchange ( Etherdelta , IDEX ... ect )
Put in another way, to have to use decentralized exchanges, we"re going to have to divulge our private keys and as such it ceases to be private. That's highly undesirable and maybe in the future it's going to be improved upon, so for anyone interested in using this exchange, best option is as suggested above or continue with centralized exchanges. Simply never import your own private keys of your main wallet , just make a new disposable wallet and only transfer money ETH or tokens to it When/If need to make trade . It is the same thing with every decentralized exchange ( Etherdelta , IDEX ... ect )
April 18, 2018, 10:45:36 AM
I was searching on Google "is idex safe" and found this thread on top of the result page. I have some tokens that I no longer want to hodl and that can only be traded via idex right now. So I wanted to make sure this site is safe for use.
My opinion: This site is safe for trading with a second wallet, funds should be transferred ASAP after trading.
Edit: You can use MetaMask to unlock wallet, this should be done without giving the private key, and this is much safer.
My opinion: This site is safe for trading with a second wallet, funds should be transferred ASAP after trading.
Edit: You can use MetaMask to unlock wallet, this should be done without giving the private key, and this is much safer.
I actually searched the same thing, and this thread came up top among the search results. I was a bit alarmed when there were options to "unlock wallet" and it didn't sit right with me that I was going to fork over control of my MetaMask.
What now? Is there any other consensus? Do you think there's some hacker that is waiting to pounce and take control over all our IDEX wallets? :/
April 09, 2018, 01:44:07 AM
I was searching on Google "is idex safe" and found this thread on top of the result page. I have some tokens that I no longer want to hodl and that can only be traded via idex right now. So I wanted to make sure this site is safe for use.
My opinion: This site is safe for trading with a second wallet, funds should be transferred ASAP after trading.
Edit: You can use MetaMask to unlock wallet, this should be done without giving the private key, and this is much safer.
My opinion: This site is safe for trading with a second wallet, funds should be transferred ASAP after trading.
Edit: You can use MetaMask to unlock wallet, this should be done without giving the private key, and this is much safer.
March 13, 2018, 12:58:45 PM
Idex seems very similar to etherdelta regarding requirement of wallet keys. I would not give my main wallet keys. Transfer what you want to exchange into a new wallet and then empty it.
March 12, 2018, 01:58:04 PM
I was searching about IDEX and found this thread , Hmmm most of the people posted here do not know how decentralized exchange is working !
Simply never import your own private keys of your main wallet , just make a new disposable wallet and only transfer money ETH or tokens to it When/If need to make trade . It is the same thing with every decentralized exchange ( Etherdelta , IDEX ... ect )
Simply never import your own private keys of your main wallet , just make a new disposable wallet and only transfer money ETH or tokens to it When/If need to make trade . It is the same thing with every decentralized exchange ( Etherdelta , IDEX ... ect )
March 02, 2018, 10:49:52 AM
people use it with metamask as well, but i think we cant trade tokens from metamask using the MEW wallet until we send it to a metamask wallet which is a waste of gas. But are we missing something here , isnt decentralised exchange suppose to do that , like a few wallets also these days offer to exchange coins inside of the wallet, they have your private key for sure.
But for now i guess it will be safe to just create a new wallet there and send only those tokens which you want to trade.
But for now i guess it will be safe to just create a new wallet there and send only those tokens which you want to trade.
February 18, 2018, 10:08:57 AM
Hi Alex,
I have been hesitant about using a decentralized exchange because I've seen stories about fake tokens being sold on etherdelta:
https://www.reddit.com/r/WePowerNetwork/comments/7wce0q/wepower_already_on_exchanges_fake_wepower_tokens/
https://www.reddit.com/r/arcblock/comments/7wbrf7/arcblock_already_on_exchange/
Can you confirm this is 100% not a concern on Idex? Can I purchase tokens on Idex with full assurance that they will be authentic tokens?
From what I've read, fake tokens cannot be sold on centralized exchanges. But apparently it is possible on etherdelta because they are a decentralized exchange. Given Idex is also a decentralized exchange, I'm hesitant about using it.
If it is not possible for someone to sell fake tokens on Idex, please let me know how your exchange is different (what mechanism do you have that would prevent token fraud. )
Thanks in advance for your response!
I have been hesitant about using a decentralized exchange because I've seen stories about fake tokens being sold on etherdelta:
https://www.reddit.com/r/WePowerNetwork/comments/7wce0q/wepower_already_on_exchanges_fake_wepower_tokens/
https://www.reddit.com/r/arcblock/comments/7wbrf7/arcblock_already_on_exchange/
Can you confirm this is 100% not a concern on Idex? Can I purchase tokens on Idex with full assurance that they will be authentic tokens?
From what I've read, fake tokens cannot be sold on centralized exchanges. But apparently it is possible on etherdelta because they are a decentralized exchange. Given Idex is also a decentralized exchange, I'm hesitant about using it.
If it is not possible for someone to sell fake tokens on Idex, please let me know how your exchange is different (what mechanism do you have that would prevent token fraud. )
Thanks in advance for your response!
February 17, 2018, 03:50:34 PM
Hi everyone, Alex from Aurora/IDEX here, just found this thread so wanted to address a few concerns.
1. The option for private keys is to allow people who so choose to have the best trading experience. Using a private key directly you don't have to sign each transaction so each order is instantaneous. The private key is stored locally encrypted in the browser and deleted every time you log out. For those who have concerns (totally understandable) we integrate with metamask and ledger.
2. Regarding the comment of getting paid to trade, that was the slogan we came up with for our market making rewards program (though I can see how in this space it seems extremely suspicious). Those who trade on IDEX will earn our network token, AURA, proportional to the amount of trading that they do. This token will enable people to run a node to support the future version of our platform and earn a portion of the trade fees for doing so.
Article on our rewards program - https://medium.com/aurora-dao/idex-aurora-decentralized-exchange-rewards-4e092c77affc
Article on our plans for staking - https://medium.com/aurora-dao/the-aura-token-share-in-the-success-of-idex-and-aurora-cf4212ba2e2a
Let us know if you have any other questions, we're experiencing great growth and just recently passed Etherdelta as the number one Ethereum token exchange and the most active smart contract on the Ethereum network!
1. The option for private keys is to allow people who so choose to have the best trading experience. Using a private key directly you don't have to sign each transaction so each order is instantaneous. The private key is stored locally encrypted in the browser and deleted every time you log out. For those who have concerns (totally understandable) we integrate with metamask and ledger.
2. Regarding the comment of getting paid to trade, that was the slogan we came up with for our market making rewards program (though I can see how in this space it seems extremely suspicious). Those who trade on IDEX will earn our network token, AURA, proportional to the amount of trading that they do. This token will enable people to run a node to support the future version of our platform and earn a portion of the trade fees for doing so.
Article on our rewards program - https://medium.com/aurora-dao/idex-aurora-decentralized-exchange-rewards-4e092c77affc
Article on our plans for staking - https://medium.com/aurora-dao/the-aura-token-share-in-the-success-of-idex-and-aurora-cf4212ba2e2a
Let us know if you have any other questions, we're experiencing great growth and just recently passed Etherdelta as the number one Ethereum token exchange and the most active smart contract on the Ethereum network!
February 14, 2018, 11:01:02 AM
I Google is Idex a safe wallet and I land here seeing all your opinion I have second thought trading on Idex I need to transfer the coin I want to trade to an empty wallet before I trade but so far no negative feedbacks coming from Idex wallet but it's better to be safe than sorry.
It looks like you answered my previous question - so it is possible to deposit coins on address created on IDEX, and it is not necessary to provide my private key for example from MyEtherWallet?
Thanks for this advice! I already use Metamask, and also already ordered Ledger
Do anyone know how long can take/how many confirmations need deposit on IDEX? I have already 150 confirmations and nothing..
February 13, 2018, 02:36:50 PM
I Google is Idex a safe wallet and I land here seeing all your opinion I have second thought trading on Idex I need to transfer the coin I want to trade to an empty wallet before I trade but so far no negative feedbacks coming from Idex wallet but it's better to be safe than sorry.
It looks like you answered my previous question - so it is possible to deposit coins on address created on IDEX, and it is not necessary to provide my private key for example from MyEtherWallet?
February 13, 2018, 11:06:27 AM
I Google is Idex a safe wallet and I land here seeing all your opinion I have second thought trading on Idex I need to transfer the coin I want to trade to an empty wallet before I trade but so far no negative feedbacks coming from Idex wallet but it's better to be safe than sorry.
It looks like you answered my previous question - so it is possible to deposit coins on address created on IDEX, and it is not necessary to provide my private key for example from MyEtherWallet?
February 13, 2018, 08:31:21 AM
I Google is Idex a safe wallet and I land here seeing all your opinion I have second thought trading on Idex I need to transfer the coin I want to trade to an empty wallet before I trade but so far no negative feedbacks coming from Idex wallet but it's better to be safe than sorry.
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