Topic: Just a question - page 2. (Read 611 times)
There are pros and cons of both CEX and DEX exchanges. Also, there are multiple DEX for Ethereum ERC-20 tokens but there are not any DEX exchanges for many of the non-ethereum coins. This will change for the better in the future.
Obviously it will and that's a dream come true for most because we want dex to overcome this market and that's why there's should be more awareness that we're doing for them. But the reality stands currently that the mass likes the convenience that CEXs have to offer.
And that's the reason why we are still seeing a lot of dex have a very low volume.
It's like two opposite sides, there are pluses and there are minuses of each, right? Dex with more maximum service, consider it more "official" so that many people choose and trade there so that the volume increases, conversely even though cex is assumed to have stronger security but is not very desirable, that's how the market accepts it. So we have to make good use of both. Quality Dex like Bianance Dex, can also be the best solution for trading.And that's the reason why we are still seeing a lot of dex have a very low volume.
If you have read his tweet about that question towards him, you'll understand that it's not completely as we think.
Try to see why people are more comfortable using exchange checks than dex?
One of them is because of the high trading volume and altcoin that are in the cex exchange have been filtered and have a brighter future than the unclear dex exchange of products from altcoin, and besides it is difficult to change people's habits that have been done for a long time.
One of them is because of the high trading volume and altcoin that are in the cex exchange have been filtered and have a brighter future than the unclear dex exchange of products from altcoin, and besides it is difficult to change people's habits that have been done for a long time.
Can someone pls answer this question? presently the problem of decentralized exchange is liquidity and enough volume, if people start leaving cex for dex will the volume increase ? if Yes then what is stopping people? because dex exchanges is the perfect answer to stolen fund on exchanges and exchange scam exits
Personally, I much prefer centralized exchange because it is a lot easier and I am not really a fan of the complexity of decentralized exchange. And if people start to leave CEX for DEX, I do not think it will necessarily good for the exchange because it can cause conflict to the market with the huge number of transactions it needs to accomplish. There are specific uses for both CEX and DEX so I prefer them both to be used separately to their respective uses.
People will not switch from CEX to DEX. This will not happen because decentralized exchanges are not for everyone. they are not convenient for traders. they are not comfortable to trade. DEX will always be popular only for a particular market audience
precisely dex is too idealistic with less attractive uses, many traders don't like the obligation to use gas, prefer coins that are automatically deducted as fees and for other transaction needs. Whatever level of complexity is given to cex, it will make many traders choose to adapt and not switch to other platforms. Some people who turn suddenly will eventually have the same thought.Each users have their own way and perceptions but as they experience some positive or negative it may conclude to gain trust or not on the trading site they encounter. Nowadays, scammer are so rampant as they will do bad things to have an easy money. Hopefully each of us must vigilant enough to avoid as a victim.
just to open having to use vpn is a bad thing, yes i have experienced it too. I don't think it will last long because people won't use it anymore if it's difficult to access.
not really(technology will keep advancing, it might be the issue for now but it will not be in the future), even I think dex will be a new trend next year because of AMLD 5 compliance. many people do not like doing it including me, people will use this opportunity to create a dex and offer it to those people.
Yes then what is stopping people?
Some are worried of wallet linking that could lead to lost of funds though some create new wallet dedicated for that exchange. While DEX don't have real time support that you can reach instantly whenever you got issues.if something happens on binance they can refund and deal with the hack
Binance did have insurance and other reputed sites and so choosing those is somehow a relief.Though to clarify, insurance just covered the entire site when it get hack and not just the individual account.
My experience with DEX is not so good, full of one problem after the other, very sluggish too, it will be hard for people to stop using centralized exchanges because they perform better than DEXs
i dont really know what it does not work out.. maybe because no one can give insurance like in centralized exchanges...
if something happens on binance they can refund and deal with the hack
if something happens with decentalized exchange (and there are attacks that can work like DNS attacks and others..)
no one can give insurance
if something happens on binance they can refund and deal with the hack
if something happens with decentalized exchange (and there are attacks that can work like DNS attacks and others..)
no one can give insurance
Can someone pls answer this question? presently the problem of decentralized exchange is liquidity and enough volume, if people start leaving cex for dex will the volume increase ? if Yes then what is stopping people? because dex exchanges is the perfect answer to stolen fund on exchanges and exchange scam exits
Not a solution I think. Some exchange or cex using this hacked incident to steal some funds from the users. Dex is nice but not all users are familiar with it and this process is sensitive not all community can easily adopt it maybe in time as people got introduced carefully with dex.
Most people new to cryptocurrency flock to centralized exchanges because they usually advertise themselves way more than decentralized exchanges with things like trading contests, promotions like reduced fees and so on. Centralized exchanges also typically boast more useful features than most decentralized exchanges and a boatload of guides and usually decently fast customer support, not to mention a lot of them are just way more newbie-friendly in terms of their interfaces, though DEXes have started catching up here. A lot of decentralized exchanges also have pretty poor liquidity at the moment stemming from a lack of people using them which loops right back to my first point.
Can someone pls answer this question? presently the problem of decentralized exchange is liquidity and enough volume, if people start leaving cex for dex will the volume increase ? if Yes then what is stopping people? because dex exchanges is the perfect answer to stolen fund on exchanges and exchange scam exits
Obviously it will increase if traders started to move to DEX.
Well because we have this notion that CEX is safe for trading that's why it is still the preferred choice of most traders, specially if you're a newbie, you will start your journey with CEX like Binance and the rest of the top tier exchanges.
As for the stolen funds, it's really hard to cope with that as hackers are everywhere. And we have the old adage, not your keys not your coins, so better not put all your funds in an exchanges.
People will not switch from CEX to DEX. This will not happen because decentralized exchanges are not for everyone. they are not convenient for traders. they are not comfortable to trade. DEX will always be popular only for a particular market audience
true what you say,I also agree, because DEX is not designed easily for traders, especially novice traders,
they will prefer CEX because it is easier and more comfortable, even though the risk is greater, because when an exchanger gets a hacker attack, it is possible that our funds will also be lost.
and in the end CEX or DEX will both continue to exist because market demand never runs out.
I like both markets like the decentralized or central markets because both markets are containers for buying and selling so we can use both where our tokens can be bought and sold, but it all depends on which one we want to use because all also have their own level of comfort.
People will not switch from CEX to DEX. This will not happen because decentralized exchanges are not for everyone. they are not convenient for traders. they are not comfortable to trade. DEX will always be popular only for a particular market audience
precisely dex is too idealistic with less attractive uses, many traders don't like the obligation to use gas, prefer coins that are automatically deducted as fees and for other transaction needs. Whatever level of complexity is given to cex, it will make many traders choose to adapt and not switch to other platforms. Some people who turn suddenly will eventually have the same thought.
Scam cases have become more frequent among decentralized exchanges. The unpleasant situation with IDEX has undermined the credibility of these exchanges. It seems to me that people will soon prefer centralized exchanges.
Obviously it will and that's a dream come true for most because we want dex to overcome this market and that's why there's should be more awareness that we're doing for them. But the reality stands currently that the mass likes the convenience that CEXs have to offer.
And that's the reason why we are still seeing a lot of dex have a very low volume.
It's like two opposite sides, there are pluses and there are minuses of each, right? Dex with more maximum service, consider it more "official" so that many people choose and trade there so that the volume increases, conversely even though cex is assumed to have stronger security but is not very desirable, that's how the market accepts it. So we have to make good use of both. Quality Dex like Bianance Dex, can also be the best solution for trading. And that's the reason why we are still seeing a lot of dex have a very low volume.
Can someone pls answer this question? presently the problem of decentralized exchange is liquidity and enough volume, if people start leaving cex for dex will the volume increase ? if Yes then what is stopping people? because dex exchanges is the perfect answer to stolen fund on exchanges and exchange scam exits
Obviously it will and that's a dream come true for most because we want dex to overcome this market and that's why there's should be more awareness that we're doing for them. But the reality stands currently that the mass likes the convenience that CEXs have to offer.And that's the reason why we are still seeing a lot of dex have a very low volume.
People will not switch from CEX to DEX. This will not happen because decentralized exchanges are not for everyone. they are not convenient for traders. they are not comfortable to trade. DEX will always be popular only for a particular market audience
of course DEX will have bigger liquidity and volume if CEX traders/ investors move to DEX.
But why hasnt it happened until now? moreover, we already know that there are MANY hacked CEX.
I have some reasons why:
1 DEX has low speed transaction
2 DEX is lack of feature (future, margin, stop limit, etc)
3 DEX has absolutely bad GUI
4 even DEX already hacked (looking at bancor)
So, dont be wonder why people still stick to CEX, DEX hasnt given better option in this case.
But why hasnt it happened until now? moreover, we already know that there are MANY hacked CEX.
I have some reasons why:
1 DEX has low speed transaction
2 DEX is lack of feature (future, margin, stop limit, etc)
3 DEX has absolutely bad GUI
4 even DEX already hacked (looking at bancor)
So, dont be wonder why people still stick to CEX, DEX hasnt given better option in this case.
Jump to: