That you think about decentralized cryptocurrency exchanges?

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: boyptc on November 28, 2018, 10:42:11 AM

The fees aren't really a problem to me if there's no KYC required, what's 0.25% if it requires nothing but allows you to withdraw your money without any single problem.

That's definitely one of the primary appeals of the DEX model. Unfortunately, all of the current DEXs are partially centralized -- server and order matching infrastructure, site and domain management, etc. Now that the founder of EtherDelta has been charged by the SEC, I think we're going to see more exchanges following IDEX and implementing KYC.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

The fees aren't really a problem to me if there's no KYC required, what's 0.25% if it requires nothing but allows you to withdraw your money without any single problem.

IDEX is the most popular but they are just semi-decentralized and with some changes, I rarely use them nowadays.

To have more idea of dex's check this --> https://coinsutra.com/best-decentralized-exchanges-dex/

Pmalek

legendary

Activity: 2730

Merit: 7065

The title of your thread might discourage people from reading it. It says "That you think about decentralized cryptocurrency exchanges?" I assume you were trying to write "What do you think about decentralized cryptocurrency exchanges?"

dunkerey

newbie

Activity: 31

Merit: 0

Quote from: TRADE OR HODL on November 25, 2018, 07:32:29 AM

Hello, traders! I hate paying fees, that is the reason I never store my assets in ordinary fiat banks, they charge insane amounts for nothing (I live in Switzerland though). Now I’am obsessed with crypto exchanges (especially DEXs) but I have never seen transaction fee lower than 0.25%. Could you persuade me I was not very attentive in this search? It is necessary Ethereum tokens support.

I also like decentralized cryptocurrency exchange, it is very fast and convenient.

LeGaulois

copper member

Activity: 2828

Merit: 4065

Top Crypto Casino

People usually prefer to use a DEX for its decentralized advantage and to be free with the KYC. Not really to pay fewer fees, and 0.25% is the average.
@Coyster
Banks are not here to store your money. They are here to collect money from people. This is a big difference because once you deposit money into your bank account, the money isn't yours anymore. It's similar to the web-based BTC wallets. If you don't own the private keys you don't own the coins.

BearProfit

newbie

Activity: 18

Merit: 0

The volumes are too small on DEX and usability is terrible, but I like the idea of holding my coins.
I think DEX are good if you're advanced user and just want to perform a few exchanges.
But if you'd like to trade regular then volumes and usability are must and the only choice you have (currently) are CEX.

Marcel666

jr. member

Activity: 266

Merit: 2

The Premier Digital Asset Management Ecosystem

Banks have very robust systems and saving schemes, depending on which you go for you could even end up getting monthly, quarterly or annual return in your investments, I can call it that as you are saving for profit.
Where charges play a huge role is in making transactions, especially cross border transactions.

Some exchanges also charge significant transactions fees, even DEXs, and cryptocurrency is not suitable for storing up funds, it's volatile and unpredictable.

Ria Sakurai

jr. member

Activity: 251

Merit: 6

The idea of DEX exchanges is very good, i love it. We can control our token and do trading. I don't know why people don't like to trade on DEX, the volume is too small, 99% of cryptocurrency trade are now made on centralized exchange - cex. But cex has many risks, you can't control your coins in real time, hacks, personal data for KYC is in risk to be disclosed. I think, it's because DEX allow you to withdraw fiat, CEX doesn't have this.

Coyster

legendary

Activity: 2044

Merit: 1268

Life's but a walking shadow!

Quote from: TRADE OR HODL on November 25, 2018, 07:32:29 AM

Hello, traders! I hate paying fees, that is the reason I never store my assets in ordinary fiat banks, they charge insane amounts for nothing

Fiat banks are there to store your money in fiat currencies,and each and everyone on this forum makes use of banks when dealing with Fiat currencies,that isn't much of a problem
Except you're planning to liquidate all your assets into coins, which to me is impossible

Quote from: TRADE OR HODL on November 25, 2018, 07:32:29 AM

Now I’am obsessed with crypto exchanges (especially DEXs)

If you're looking for decentralized exchanges to store your coins there are quite a handful of them,just based on your preference...E. g IDEX,FORKDELTA,this happens to be the two main DEX I know of

PocketRocketsCasino

legendary

Activity: 882

Merit: 1000

Hi there! I'm prefer Decentralized Exchanges rather too, and i found a new Decentralized Exchange yesterday : https://trex.org/

Let's try it and share some experience here, so.. I like it so far. Sure will be a great success in the future

clrpod

full member

Activity: 322

Merit: 114

Quote from: TRADE OR HODL on November 25, 2018, 07:32:29 AM

Hello, traders! I hate paying fees, that is the reason I never store my assets in ordinary fiat banks, they charge insane amounts for nothing (I live in Switzerland though). Now I’am obsessed with crypto exchanges (especially DEXs) but I have never seen transaction fee lower than 0.25%. Could you persuade me I was not very attentive in this search? It is necessary Ethereum tokens support.

It's my own personal belief that IDEX is the best DEX, although it's not fully decentralized, but they never hold your own tokens. They have recently had to start conducting KYC so if that's an issue you should avoid that. They have a great choice of tokens and an easy to use exchange.

TRADE OR HODL

newbie

Activity: 14

Merit: 0

Hello, traders! I hate paying fees, that is the reason I never store my assets in ordinary fiat banks, they charge insane amounts for nothing (I live in Switzerland though). Now I’am obsessed with crypto exchanges (especially DEXs) but I have never seen transaction fee lower than 0.25%. Could you persuade me I was not very attentive in this search? It is necessary Ethereum tokens support.

Topic: That you think about decentralized cryptocurrency exchanges? (Read 226 times)