Topic: What do you think about the decentralized exchanges? Any good or bad experience? (Read 262 times)
September 21, 2018, 05:52:01 AM
Decentralized exchanges have high significance in crypto-currencies. Now trading on exchanges is more centralized than not. Decentralized exchanges don't have enough big volumes, why large players don't go to it, although these exchanges are safer.
August 18, 2018, 09:30:55 AM
I think that this video nailed it, thank for this post. The answer resume it all, must see.
Here again the the video: https://youtu.be/FNQh2hDGMpU?t=832
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
That is great answer CEO Binance about decentralized exchanges.
time link youtube
https://youtu.be/FNQh2hDGMpU?t=832
August 15, 2018, 04:02:18 PM
Only downside for me is the small orderbook and low volume compared to traditional centralized exchanges, and they sometimes may be less user-friendly compared to the bigger centralized exchanges, but not having to verify yourself to trade is a big upside for me. I do a large portion of my trading on them nowadays; if they could improve on the complexity and make their platforms easier to navigate, volume would definitely rise, but most of them are just somewhat difficult to use if you're starting out. Besides these issues, I've never had major problems with them.
August 15, 2018, 04:00:47 PM
I have had terrible experience with decentralised exchanges, notable among them is high transaction fees and very complex user interface. Decentralised exchanges are more difficult to use than the centralysed exchanges.
August 15, 2018, 03:10:51 PM
The only thing stopping to use it is the low volume traded. usually people want their trade completed asap
Secondly the ones using SEPA, it can be subject to reversal with SEPA and near impossible to prove your case to the banks
Secondly the ones using SEPA, it can be subject to reversal with SEPA and near impossible to prove your case to the banks
August 15, 2018, 02:41:14 PM
I have both good and bad impressions of working with decentralized exchanges. Good-a lot of new tokens appear there,on centralized exchanges there is simply no possibility to add dozens of new tokens monthly. Bad - very slow placing orders and token in the exchange, great Commission when you trade.
August 14, 2018, 12:52:10 AM
https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
I think the exchange of decentralized exchanges might replace it. but we will never know when that time will come, but with the passage of time and many things like that then it does not rule out the possibility that decentralized exchanges will succeed .
August 13, 2018, 02:05:33 AM
I used to HATE Decentralized exchanges solely because I wasn’t used to them. Now that I’ve traded on numerous ones and gotten more comfortable with it. The thing is, big centralized ones are definitely more convenient for deposits and withdrawals, but other than that nothing is super different.
Then you have never tried to trade one of the pairs on let us say Waves dex haha
Except for Bitcoin of course, you can cry just waiting weeks for your order to fill, if ever. I have some tokens before, that you will be lucky to have more than 2 or 3 orders and the spread between buy and sell is just horrendous. You can even eat up the orders with 0.1 BTC and the price will go crazy. This isn't the direct fault of dex of course, just that so few people use some of them.
August 12, 2018, 04:47:21 PM
Decentralized exchanges are the gradually taking over the market.
IDEX is one of my favorite. It has an easy to use interface. And you asset security depends solely in you.
You don't need to sign up on the exchange to trade.
No passwords.
Your assets are technically still in your possession.
I think they are the future of exchanges.
IDEX is one of my favorite. It has an easy to use interface. And you asset security depends solely in you.
You don't need to sign up on the exchange to trade.
No passwords.
Your assets are technically still in your possession.
I think they are the future of exchanges.
August 12, 2018, 11:42:55 AM
https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
Here is my bad experience and possibly common to other people's/bounty hunters, back in the last I joned a campaign which offers high amount of value but in the end I got pissed of just because of that ICOs value in the crypto market got low and a fact that it was so slow to be listed in an exchange so the story for the reason that there altcoin's value went down is because the first persons who got to invest have the tokens therefore they exchanged it and therefore value went down.
The moral lesson be ready be wise on picking bounties and still in the end who really know what they gonna do.
And decentralized exchange it is good and helpful to people who understands it.
August 12, 2018, 11:20:23 AM
I have used forkdelta twice and all went good except the waiting for network confirmation and the assets becoming availble for trade.
Yes, what I felt while using decentralized exchange, it has become possible only because of the platform provided my ethererum still we need to move funds into exchange's addy to get ready for trading and for security measurements we cannot use our actual addy to load funds with exchange hence lots of movements are included and if you do not include enough gas then you may enforced to wait to get your transaction included into blocks of etherieum.
If you are trading when ethereum network is over congested then I like to suggest to include more than enough gas for smooth and quicker trading otherwise you may need to wait for days and the bid/offer may not available when you will be ready to trade.
Yes, what I felt while using decentralized exchange, it has become possible only because of the platform provided my ethererum still we need to move funds into exchange's addy to get ready for trading and for security measurements we cannot use our actual addy to load funds with exchange hence lots of movements are included and if you do not include enough gas then you may enforced to wait to get your transaction included into blocks of etherieum.
If you are trading when ethereum network is over congested then I like to suggest to include more than enough gas for smooth and quicker trading otherwise you may need to wait for days and the bid/offer may not available when you will be ready to trade.
August 12, 2018, 07:00:58 AM
https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
So far, I have good experience with IDEX because I was able to do my transactions properly and in a fast way as well. They have a warning beforehand when you execute a transaction preventing you from wasting an ETH for gas when you are not successful with it unlike in etherdelta/forkdelta wherein the orderbook is not updated so there is a time when the transaction did not push through but still they deducted a fee in my account. They wouldn't have a warning as well when you transact causing some newbies to lose great amount of money when they input a buy or sell transaction.
August 12, 2018, 06:26:17 AM
The most obvious benefit of using a decentralized exchange through a centralized location is their "reliable" nature. You do not have to rely on the security or honesty of the conversation because of the money you keep in your wallet, not by the third party.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.
But if you read the responses above, then you realize that actually you still have to rely on these decentralized exchanges. OK, the great thing and the best thing is that you are in control of your funds. This is something you win with dex over centralized exchanges any day. But dex still host their systems that they control, and you have to rely on that. I am actually a big Waves supporter but on more reading now, it appears that their order books could still be manipulated by Waves if they wanted to, because the software and the server is still controlled by them. I trust them, but if they were true decentralization, they wouldn't require us to trust them.
August 12, 2018, 05:43:57 AM
Most of my investment is decentralized. First of all, I think it is safer, and I always like to look for coins that are different. When I think they are reliable, I will invest immediately!
ETH 30%
ADA 20%
BTM 40%
FT 10%
ETH 30%
ADA 20%
BTM 40%
FT 10%
August 12, 2018, 03:53:41 AM
https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?
Bitcoin is right for this decentralized exchange, so far many people have agreed with Bitcoin that is decentralized because it is viewed from security, efficient and effective, therefore many companies will make decentralized platform services, they will offer several advantages to attract the attention of Cryptocurrency users.
August 12, 2018, 01:53:09 AM
The most obvious benefit of using a decentralized exchange through a centralized location is their "reliable" nature. You do not have to rely on the security or honesty of the conversation because of the money you keep in your wallet, not by the third party.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.
August 12, 2018, 12:46:21 AM
If you are a smart person to choose an option, I guess this reason you don't have to consider again to choose a decentralized exchange.
Quote
The most obvious benefit to using a decentralized exchange over a centralized one is their "trustless" nature. You are not required to trust the security or honesty of the exchange since the funds are held by you in your personal wallet and not by a third party.
The cryptocurrency concept is decentralized, making you truly guard the assets you have and not entrust your assets to other parties. August 11, 2018, 04:17:57 PM
But how Binance will make money, if it is decentralized?
It's like the usual way through fees as well.With the trading fees. Decentralized exchanges, like centralized exchanges, charge trading fees to both makers and takers. Surely the profits they will get with this exchange will be lower than those they currently get with their centralized exchange, but it will still be quite profitable since in the near future there will be a great demand for decentralized exchanges and Binance, thanks to its name and user base, will attract a large amount of users.
He explained it well, binance's CEO sees the future through decentralized trading and he's starting it out. August 11, 2018, 11:35:57 AM
I have been checking https://bisq.network/ but they remove currencies that have low traffic.
What the point then? These exchanges are the obvious choices for the ones who cannot be listed on Binance.
Choosing the coin that can be listed or not, is not what I would call decentralized management!
What the point then? These exchanges are the obvious choices for the ones who cannot be listed on Binance.
Choosing the coin that can be listed or not, is not what I would call decentralized management!
Well, that happens in all exchanges, when a coin or token has no volume they remove it to make room for another one. I think the only exchange where you can trade a token even if it's not listed is etherdelta / forkdelta, as long as you know the contract address of the token.
August 11, 2018, 04:17:24 AM
I've tried several now and in general they're really not that much different from using a centralised exchange, except for the very obvious lack of liquidity (thin orderbooks) and slim market ranges.
Some I've tried are probably really not worth the trouble for people to learn (counterparty for example) while others have been quite pleasant to use (like Waves).
Mind you, these aren't true Dexs since they force you to use their native asset to pair. They also force you to use their platform or wallet, so if anything goes wrong with their servers or software, you're screwed. Waiting for a true dex where i can stick to Bitcoin and exchange via atomic swaps.
Some I've tried are probably really not worth the trouble for people to learn (counterparty for example) while others have been quite pleasant to use (like Waves).
Mind you, these aren't true Dexs since they force you to use their native asset to pair. They also force you to use their platform or wallet, so if anything goes wrong with their servers or software, you're screwed. Waiting for a true dex where i can stick to Bitcoin and exchange via atomic swaps.
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