seriously scared of all this decentralized exchange to avoid failing for scammed exchange thereby exposing my private keys. the need for decentralized exchanges are not that much needed.
There's a technique to minimize the risk, for example, you have an account at MEW, all you need to do is just to create a new one and then transfer a certain tokens that you want to trade in your new account, simple as that and you are not exposing your whole assets. 
Topic: We need decentralized exchanges (Read 449 times)
seriously scared of all this decentralized exchange to avoid failing for scammed exchange thereby exposing my private keys. the need for decentralized exchanges are not that much needed.
Crypto traders have been advocating for decentralized exchanges for a very long time.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
Decentralized exchanges are necessary in this market but what investors need is that liquidity must be really big because most Dex exchanges have very poor liquidity and many coins have very different prices than Cex so Dex has yet to gain investor confidence. I think now what Dex needs to do is reduce transaction costs because there are a lot of Dex exchanges that have very high fees and that makes many investors feel annoyed.
Yes, many people don't have a very good opinion towards the dex platform because they are charging a very high fee for the transactions. Even we don't see many Dex platform are not generating enough volumes because most of the coins listed in the dex platform don't have any real product.
The developer of Blocknet actually said i n a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
The most obvious thing that should happen, that people who create decentralized exchanges try to make them easier to use, because right now a new user can't really easily understand how the things are working and probably the best thing is to create decentralized exchange with friendly user interface and make it with extension for browser to make it easier to use, because those website can't be that interactive, but if they create an extension where everything is intructed step by step I think that would be easier to work with it I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
Definitely I would suggest that decentralized exchanges like forkdelta and etherdelta, should be patronized by many people. Many exchanges nowadays required kyc, but it made anonymous traders more hesitant on giving their full data due to possible breaches for their data security. We can't blame them, so with decentralized exchange mentioned the anonymous activities will be preserved and be appreciated.
Folkdelta and Etherdelta have the same owner IIRC, when Etherdelta was compromise, Folkdelta was created. If you will look at https://coinmarketcap.com/exchanges/forkdelta/, they only have a combined of $43,645 USD trading volume, that's too small and therefore low risk. However, I think as their volume will increase, they will also be going to require basic KYC.
Definitely I would suggest that decentralized exchanges like forkdelta and etherdelta, should be patronized by many people. Many exchanges nowadays required kyc, but it made anonymous traders more hesitant on giving their full data due to possible breaches for their data security. We can't blame them, so with decentralized exchange mentioned the anonymous activities will be preserved and be appreciated.
Both have their pros and cons but i still prefer the decentralized exchanges since i am more hesitant to give my personal information to a centralized exchange since if there is a security breach then we people who pass the KYC will be in bigger trouble. It is unlikely to happen but as you can see such attacks in exchanges nowadays, it doesn't feel safe anymore.
I guess decentralized ones do not really work as well as the centralized ones, of course we need a dex that is actually trust-less and would work in a way that only the traders can run it and there is no owner (like the gambling websites with no real "owner" even though there is a team behind it and how profits go to token holders) however that always results with someone building a dex and collecting money from the profits without ever working on it. When you have a truly decentralized one that means no owner and that means no improvements.
There is no a single dex that I would prefer over late 2017 binance let alone the binance we have right now. As long as we can't find a way to actually increase the activity and improvements of these dex exchanges eventually they will all be outdated and not used.
There is no a single dex that I would prefer over late 2017 binance let alone the binance we have right now. As long as we can't find a way to actually increase the activity and improvements of these dex exchanges eventually they will all be outdated and not used.
Decentralized exchanges are necessary in this market but what investors need is that liquidity must be really big because most Dex exchanges have very poor liquidity and many coins have very different prices than Cex so Dex has yet to gain investor confidence. I think now what Dex needs to do is reduce transaction costs because there are a lot of Dex exchanges that have very high fees and that makes many investors feel annoyed.
Do you really fell that transaction cost is the reasons why many people would not use dex exchanges? Because if it is so, what happen to those dex exchanges that also have very low transaction fee on them, how come they have still not gained the popularity needed? When Binance was proposing their dex exchange, I thought this is what will bring about doom to most centralized exchange, and we all know Binance for one thing, they are well known for very low transaction fees and I am sure that is not going to be limited to their Centralized exchange alone, but to their Dex exchanges also, but since Binance released their dex exchanges? What can you really make off their dex exchange, nothing, they are still not popular, so I guess people just prefer cex exchange naturally.
Decentralized exchanges are necessary in this market but what investors need is that liquidity must be really big because most Dex exchanges have very poor liquidity and many coins have very different prices than Cex so Dex has yet to gain investor confidence. I think now what Dex needs to do is reduce transaction costs because there are a lot of Dex exchanges that have very high fees and that makes many investors feel annoyed.
Do you really fell that transaction cost is the reasons why many people would not use dex exchanges? Because if it is so, what happen to those dex exchanges that also have very low transaction fee on them, how come they have still not gained the popularity needed? When Binance was proposing their dex exchange, I thought this is what will bring about doom to most centralized exchange, and we all know Binance for one thing, they are well known for very low transaction fees and I am sure that is not going to be limited to their Centralized exchange alone, but to their Dex exchanges also, but since Binance released their dex exchanges? What can you really make off their dex exchange, nothing, they are still not popular, so I guess people just prefer cex exchange naturally.
Crypto traders have been advocating for decentralized exchanges for a very long time.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
Decentralized exchanges are necessary in this market but what investors need is that liquidity must be really big because most Dex exchanges have very poor liquidity and many coins have very different prices than Cex so Dex has yet to gain investor confidence. I think now what Dex needs to do is reduce transaction costs because there are a lot of Dex exchanges that have very high fees and that makes many investors feel annoyed.
But let's face it most people like decentralized exchange but couldn't use it on every crypto.
We are stuck in centralized because most of the famous and known exchange are CEX.
But if there would be a DEX for all crypto why wouldn't people choose it?
After all crypto is design for being decentralized for anonymity and for financial freedom to be out from those third parties .
You are looking this from only one point of view, yours.
Now let's assume that you are actually a company owner that wants to start implementing crypto in your everyday business.
You want to buy some crypto and get receipt for that, you also want to sell it and get receipt for that also, you want to make reports for IRS to be clean in front of the government, you want to be able to call someone if something goes wrong in any moment, you want to be able to sue someone if something goes wrong with your money, for example they got hacked.
All this are valid reasons to go on centralized exchange.
If I am going to compare it to other centralized exchange I would rather choose the decentralized exchange platform. But most of the coins I earned from the bounty campaign listed on centralized exchange were most of it has KYC submission while on decentralized KYC is not needed, that's why I like but for the sake of profit I need to submit my KYC. And one of DEX I like was Idex but just recently, this platform now are implementing KYC to all their client users to comply it.
The developer of Blocknet actually said i n a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
It is high time we actually look into decentralized exchanges, because if we really wants to be in the cryptocurrency system, and we want what cryptocurrency was fully developed for, I think that DEX exchange is what we need and not some of these DEX exchanges that has already made our privacy compromised. I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
When using a Centralize exchange for moving our funds, in one way or another, they still have our detail registered and can easily be tracked by the government, the reason why people have not started seeing the effect of this is because they are still waiting for the system to get so deep, and since we are yet to fully have 100% adoption, they still have to wait before manifesting their power over people’s transactions over centralize exchanges.
There is a rumour out there saying that Binance DEX will also support margin trading. It's still a rumour but the possibility of that coming is no unthinkable. Especially after Binance CEX also support margin trading.
binance DEX isn't a real DEX at all. you trade with fake tokens on binance's permissioned blockchain. if they added margin capabilities to the "DEX" it wouldn't equal what the OP is talking about---truly p2p margin liquidity provided through decentralized servers and smart contracts.
first things first, we need to make a truly decentralized exchange (no centralized servers/order books/domains, built on a decentralized blockchain) before we can even start thinking about margin trading.
DEXes are now being regulated by some governments and restricted in some areas. Mots decentralized exchanges cannot incorporate fiat to crypto conversion, and have low liquidity hence more attention on centralized exchanges especially for traders who favour an easy to use and flexible interface.
I'd certainly be checking out some of the DEXes listed on this thread to know how user friendly they are.
I'd certainly be checking out some of the DEXes listed on this thread to know how user friendly they are.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
And that's it… you already made the point that is needed. Centralized exchanges are very easy to make use of, even someone who is still a newbie will understand everything about it on the first day they are making n use of it and that's because centralized exchanges functions the same way as traditional brokerage/stock markets. So, they are easy to grab than the decentralized exchanges that are a lot hard to understand.I don't even think this should be a problem to people, we have centralized exchanges and we also have the ones that are decentralized, so these shouldn't be a problem at all, cause you're free to make use of anyone you like. If an exchange decided to become centralized, then it's their choice and you're free to move your money to another platform that is not centralized. Binance, coinbase, Kraken, Bittrex, Bitfinex and other top exchanges are centralized and they are easy to use, especially Coinbase.
The developer of Blocknet actually said i n a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
Margin trading on DEX is really a new idea, but I think it does not help much for investors. because DEX does not have too many investors there, so margin trading will not work because investors often focus on large exchanges like Binance, Bitmex for high liquidity. I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
The promised Hybridblock decentralized exchange that could have served other platforms asides ethereum was not successful. I don't understand why we have few developments in that area, sadly IDEX is now introducing KYC. Everything keeps changing to favor the government and deny us our anonymity. The interest of some teams to listing their project on decentralized exchange has declined.
The developer of Blocknet actually said i n a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
Already there are lot of decentralized exchanges are available but people still using centralised exchanges due to the high liquidity of their coin on centralised exchanges,still decentralized exchanges need to evolve more and convince people that it is more secure trade compared to centralised one and till that decentralized will be used by very few people. I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
Crypto traders have been advocating for decentralized exchanges for a very long time.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.
Jump to: