DEX gained popularity years ago. But it's hard to trust investment with a DEX coin anymore since many investors are traders and are still using CEX, like Binance for security purposes.
But I won't stop you if you still think that way. There's always a chance a coin could go up without any reason at all. I've also used their services before but I tell you, it's just for trading my coins that have no other exchange but them. I even used poocoin before because that's the only method I could trade one of the coins that I've used in an NFT game.
Would it really be wise to invest in projects that are mostly used just for the purpose of there being no option left? I guess not, in my case.
I'd rather stick with the popular coins that have non stop demands and the increase in value have a higher chance that this one.
While it's understandable to have concerns about investing in DEX coins due to the prevalence of traders still using centralized exchanges like Binance for security reasons, it's important to consider a few factors before making a decision.
Firstly, the success of a DEX coin shouldn't solely depend on its usage as a last resort. The cryptocurrency market is highly volatile, and coins can experience significant price movements for various reasons. While it's true that some coins may increase in value without a clear rationale, it's generally advisable to conduct thorough research on the project, its team, and its underlying technology before investing.
Secondly, it's crucial to recognize that the cryptocurrency market is constantly evolving. DEX platforms have made significant strides in terms of security and usability, and they continue to attract users and investors. As more individuals seek decentralized and censorship-resistant solutions, DEX coins could gain further adoption in the future.
That being said, diversifying your investment portfolio is always a prudent strategy. Popular coins with consistent demand may indeed have a higher probability of value appreciation, but that doesn't mean you should entirely dismiss the potential of DEX projects. It's about finding the right balance and considering your own risk tolerance and investment objectives.
Ultimately, the decision to invest in DEX coins or stick with popular coins is a personal one. It's advisable to stay informed, conduct thorough research, and make choices that align with your own investment strategy and goals.