Is trading on CEX still worth it? - page 2.

Rikafip

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Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

Do you guys think CEXs are still worth it? Let me hear your thoughts

Depends on the reason you are using it.

For example if you want a crypto debit card as a way to spend your crypto in an easy way, then CEX is not a bad option. I was using Binance for exactly that reason and once their debit card stopped working, I effectively stopped using Binance, and have no intentions of using any other centralized exchange.

Apocollapse

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First of all both Jupiter and Metamask in-built exchanges aren't DEXs, both of them are swaps that need to be connected with centralized server, if the site or server get shutdown, you no longer able to trade in their sites. The truly DEX is only Bisq right now.

If you trade on swaps, it means you're trying to buy newly listed tokens that didn't listed in CEXs, high risk high return.

While coins that listed in big CEXs are quite safer, you no longer think it's worth it because the volatility in newly listed tokens are bigger compared to the popular ones.

PX-Z

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I do trade, but not regularly, my always routine is deposit-trade-withdraw this take 1-2 days only, and only uses one exchange since binance was banned few months i started using them LMAO.

Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

Do you guys think CEXs are still worth it? Let me hear your thoughts

Yes? As long as you don't use it as an alternative to your wallet.

Quote from: _act_ on May 15, 2024, 10:19:39 AM

@YOSHIE, I think you know OP is not referring to only CEX.io but centralized exchanges generally.

I seconded this too, knowing OP used CEXs with an "s".

tabas

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Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

In your case, it's worth it if you're taking advantage of the promos and events that they run. But to be honest, even without those, many of us here are still using centralized exchanges for many reasons. Aside from getting into trading, spot and/or futures. The other promos that they're having like launch pads or pools are getting bought by many of those that are just holding their assets elsewhere. In return of getting some rewards, of course you have to deposit it on them and be part of it. The risk is there by having no control over your assets upon depositing it on them for that potential reward.

Bulltard

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Quote from: BitMaxz on May 15, 2024, 02:15:47 PM

He might be talking about their decentralized exchange not the wallet.
You can find it in jup.ag.

no shit sherlock

BitMaxz

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I'm trading on Centalized exchange but I do not know why you ask if it's worth trading on Cexs?

Most traders usually look for exchanges with high volume and low fees if you compare it to Dex exchange the fees are higher than Cex the only advantage of buying on Dex most of the new projects can be traded there compared to Cex plus you can get some points and bonuses as you said on Bitget if you keep trading there you can earn points that you can exchange into usdt.

Quote from: Bulltard on May 15, 2024, 10:30:13 AM

please show me your jupiter wallet, i'm curious.
jupiter is not a wallet.
nice bitget shill though

He might be talking about their decentralized exchange not the wallet.
You can find it in jup.ag.

Bulltard

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Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

please show me your jupiter wallet, i'm curious.
jupiter is not a wallet.
nice bitget shill though

NeuroticFish

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Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

Do you guys think CEXs are still worth it? Let me hear your thoughts

My experience with DEXs is limited, I've used mostly CEX and OTC, so I may be somewhat wrong, however, imho CEXs are still viable in quite a number of situations:
* Established day traders are using them so I expect better volumes, for example.
* Some (and I think they're many) prefer CEX because they are more newbie-friendly and fool proof.
* If you want for example to sell for fiat, a CEX may have connections with local banks and you have better chances to get your money than from random traders.

I've been using for example Binance when they had their card. It was pretty safe and convenient to sell coins like that.

_act_

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@YOSHIE, I think you know OP is not referring to only CEX.io but centralized exchanges generally.

Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

Do you guys think CEXs are still worth it? Let me hear your thoughts

Centralized exchanges are still used more for derivatives trading like perpetual futures and options. Many people are still also using centralized exchanges for spot trading. Some people visit their launchpad and launchpool. They are also using their staking but which can be done on noncustodial wallet. They have coins that you can stake and have APR.

Just use a reputable centralized exchanges. Do not hold your coins there is what that is important to know.

YOSHIE

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Quote from: Crypto_Potato on May 15, 2024, 09:24:05 AM

Do you guys think CEXs are still worth it? Let me hear your thoughts

OP, if you take a quick look at the fraud accusations section, of course you will find a lot of slanted accusations against the CEX exchange, the cases are varied, but if you go in and read some of these accusations, CEX can refute them.
Sample case.
* Topic: CEX.IO SCAM

For that, here the CEX exchange has representatives who are responsible for the CEX exchange in all matters, their representatives: CEX.

I can only show you the information below regarding the CEX exchange, whether it is worth using or not.

Quote from: CEX on January 22, 2018, 12:58:55 PM

We would like to remind once again that CEX.IO is not a scam and we are just facing temporary issues associated with the increased growth to which we appeared to be unprepared.

Conclusion, to be more confident about the CEX exchange, you can communicate directly with @CEX.

Crypto_Potato

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These days I buy most of my tokens especially altcoins on decentralised wallets like Jupiter or metamask and I only trade on CEXs when they list tokens I already own and I send my tokens there

The only time I buy tokens on CEXs with my credit card is when exchanges have zero fees events or events like a rebate on a deposit you make like the one Bitget currently have and other CEXs like Binance, kucoin etc.

Do you guys think CEXs are still worth it? Let me hear your thoughts

Topic: Is trading on CEX still worth it? - page 2. (Read 306 times)