What is the best decentralized exchange?

hack3rcon

member

Activity: 364

Merit: 10

Quote from: mk4 on October 20, 2021, 09:14:57 AM

Quote from: cryptoaddictchie on October 19, 2021, 10:46:49 PM

They have spot exchange. The version of their perpetual exchange is on l2 while they are still operating spot market on their L1 version. I knew this, cause I did spot trading before on dydx and they still got it now. Maybe they focus on L2 perpetual but they are still operating their spot market option until now.

Any pointers? Can only see perps and margin.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

The exchanges like HodlHodl, LocalCryptos and Bisq can provide CoinEx features?

Specify what CoinEx futures you're specifically referring to. A lot of us here haven't used that exchanges.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

What is a perps exchange really?

Some far more complicated trading that you shouldn't touch.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

About the VPN, some exchanges like Binance detecting VPN providers and block them!

There's a reason why we're talking about non-custodial exchanges here and not custodial exchanges such as Binance. Tongue

Hello,
Thank you so much.
Did you use the CoinEx? Can you compare it with the HodlHodl, LocalCryptos and Bisq exchanges?

Swapzone_pr

newbie

Activity: 42

Merit: 0

Quote from: hack3rcon on October 19, 2021, 08:41:57 AM

Hello,
According to the new US boycott that cryptocurrency wallets and exchanges must apply some limitation against their users from the specific countries, then which wallets and exchanges are OK and no need KYC?
How about the dYdX exchange?

Thank you.

I would advice to use an exchange aggregator, where you can compare the rates, see all exchanges with no kyc in one place, it's really convenient, the ones I know are good: Swapzone, of course, Allegat0r, DEX.AG Wink

dkbit98

legendary

Activity: 2212

Merit: 7064

Not everything that has DEX label is really decentralized exchange, but one of them that is real is Bisq exchange that is mentioned few times before.
I would add few more worth checking out and that is blockdx.com and atomicdex.io that offers completely decentralized and trustless atomic swaps, and it's all without any kyc.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: mk4 on October 20, 2021, 09:56:10 AM

Their spot seems to also be 0.3% for taker fees though, pretty much the same with UniSwap/Sushi.

Yes it is. I think it same but dydx has more rewarding on their traders and one of the dex that has been improving as their volume keep increasing. Compared to uniswap fees, this can be compensated through trading rewards. That's why users are probably using it since it'd a dex and has rewards for using the platform.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: cryptoaddictchie on October 20, 2021, 09:22:20 AM

Try to connect your metamask and check out on the trade tab.

https://trade.dydx.exchange/trade/BTC-USD
https://i.imgur.com/1bPM2n8.jpg

L1 version is spot exchange. I've used it before since I've trade there for the airdrop so I'm pretty sure they have aside from the margin and perp.

So it was on the margin tab huh. Their spot seems to also be 0.3% for taker fees though, pretty much the same with UniSwap/Sushi.

https://help.dydx.exchange/en/articles/4800491-margin-spot-trading-fees

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: mk4 link=topic=5366447.msg58224917#msg58224917

Any pointers? Can only see perps and margin.

Try to connect your metamask and check out on the trade tab.

https://trade.dydx.exchange/trade/BTC-USD

L1 version is spot exchange. I've used it before since I've trade there for the airdrop so I'm pretty sure they have aside from the margin and perp.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: cryptoaddictchie on October 19, 2021, 10:46:49 PM

They have spot exchange. The version of their perpetual exchange is on l2 while they are still operating spot market on their L1 version. I knew this, cause I did spot trading before on dydx and they still got it now. Maybe they focus on L2 perpetual but they are still operating their spot market option until now.

Any pointers? Can only see perps and margin.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

The exchanges like HodlHodl, LocalCryptos and Bisq can provide CoinEx features?

Specify what CoinEx futures you're specifically referring to. A lot of us here haven't used that exchanges.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

What is a perps exchange really?

Some far more complicated trading that you shouldn't touch.

Quote from: hack3rcon on October 20, 2021, 06:30:50 AM

About the VPN, some exchanges like Binance detecting VPN providers and block them!

There's a reason why we're talking about non-custodial exchanges here and not custodial exchanges such as Binance. Tongue

hack3rcon

member

Activity: 364

Merit: 10

Quote from: mk4 on October 19, 2021, 08:46:29 AM

Maybe tell us what specific kind of assets you want to exchange. Tongue

BTC<->alts<->fiat: HodlHodl, LocalCryptos, Bisq
ETH<->ERC-20 tokens: UniSwap, Sushi

As for dYdX, it's a perps exchange. Mostly for day-traders.

And if your country is blocked, use a VPN.

Hello,
Thank you so much for your great answer.

The exchanges like HodlHodl, LocalCryptos and Bisq can provide CoinEx features?

What is a perps exchange really?

About the VPN, some exchanges like Binance detecting VPN providers and block them!

libert19

hero member

Activity: 2520

Merit: 952

For ethereum and sidechains use zapper.fi

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: mk4 on October 19, 2021, 09:58:47 PM

Yep. It sounds about right that the fees are significantly lower because dYdX isn't a spot exchange

They have spot exchange. The version of their perpetual exchange is on l2 while they are still operating spot market on their L1 version. I knew this, cause I did spot trading before on dydx and they still got it now. Maybe they focus on L2 perpetual but they are still operating their spot market option until now.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: Jawhead999 on October 19, 2021, 09:53:24 PM

Yes, dYdX offers better fees rather than other top ETH BSC DEX (e.g. Uniswap, Pancakeswap)

dYdX take 0.05% fees for maker and 0.1% fees for taker [1], while Pancakeswap take 0.2% fees both of maker and taker, Uniswap take 0.3% fees both of maker and taker too.

[1] https://help.dydx.exchange/en/articles/4798040-perpetual-trade-fees

Yep. It sounds about right that the fees are significantly lower because dYdX isn't a spot exchange, while PancakeSwap and Uniswap are. Not really a fair comparison. A better comparison would be to something like Perpetual Protocol which has like 0.1% tx fees as well.

Jawhead999

legendary

Activity: 1834

Merit: 1208

Quote from: Twinkledoe on October 19, 2021, 06:18:50 PM

Who knows, the fees are better?

Yes, dYdX offers better fees rather than other top ETH BSC DEX (e.g. Uniswap, Pancakeswap)

dYdX take 0.05% fees for maker and 0.1% fees for taker [1], while Pancakeswap take 0.2% fees both of maker and taker, Uniswap take 0.3% fees both of maker and taker too.

[1] https://help.dydx.exchange/en/articles/4798040-perpetual-trade-fees

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: bL4nkcode on October 19, 2021, 01:19:14 PM

Quote from: hack3rcon on October 19, 2021, 08:41:57 AM

How about the dYdX exchange?

The exchange is pretty new to me, though it doesn't have any bad/negative reviews even there's no scam accusation posted yet, but the same time it doesn't have any enough reviews from the forum as well.
While it's easy to say they will be a legit/good exchange, but it still safe to use exchanges with lots of reviews and proven by many, I'll go for what exchanges have been mentioned above.

I just encountered the mentioned dex, and so I checked their exchange. It is showing 2 trading pairs under spot trading (ETH/USDC & ETH/DAI), but more on derivatives. So for me, your trading here may be limited to what they have. There are more known DEXs here that can offer long list of trading pairs. But anyone can try this new exchange if they see the pair they want to trade with. Who knows, the fees are better?

20kevin20

legendary

Activity: 1134

Merit: 1598

I second Bisq, HodlHodl, Pancake and UniSwap. These are great ways to start off although I would recommend you to stay away from the ETH chain (fees are too big right now). There is also Haveno, a Bisq fork that is supposed to be the stealth version of it with much, much lower fees but I think the software isn't ready yet. Might be a good idea to keep an eye on it though.

Wallets.. just use fully open-source wallets like Electrum or Mycelium if you want to stay away from unnecessary headaches.

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

Quote from: hack3rcon on October 19, 2021, 08:41:57 AM

How about the dYdX exchange?

The exchange is pretty new to me, though it doesn't have any bad/negative reviews even there's no scam accusation posted yet, but the same time it doesn't have any enough reviews from the forum as well.
While it's easy to say they will be a legit/good exchange, but it still safe to use exchanges with lots of reviews and proven by many, I'll go for what exchanges have been mentioned above.

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

Quote from: hack3rcon on October 19, 2021, 08:41:57 AM

According to the new US boycott that cryptocurrency wallets and exchanges must apply some limitation against their users from the specific countries, then which wallets and exchanges are OK and no need KYC?

Hello!

Located in The US or not most centralized exchanges platforms nowadays require the KYC/AML bullshit. @mk4 gave you some good suggestions.

As for the wallet, any non-custodial wallet can do the job and nothing like Coinbase & co. Since with a custodial wallet, it is a company that holds your money, you have no choice but to abide by American (or another country) laws

A non-custodial wallet (for example Electrum, Metamask, there are many), you have your private keys and therefore access to your funds and do whatever you want. For example, if you downloaded Electrum wallet, what they can do? Knock-knock at your door and ask to check your PC to check if you have a wallet installed.

Non-custodial wallets are the middle finger to their bullshit.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Maybe tell us what specific kind of assets you want to exchange. Tongue

BTC<->alts<->fiat: HodlHodl, LocalCryptos, Bisq
ETH<->ERC-20 tokens: UniSwap, Sushi

As for dYdX, it's a perps exchange. Mostly for day-traders.

And if your country is blocked, use a VPN.

hack3rcon

member

Activity: 364

Merit: 10

Hello,
According to the new US boycott that cryptocurrency wallets and exchanges must apply some limitation against their users from the specific countries, then which wallets and exchanges are OK and no need KYC?
How about the dYdX exchange?

Thank you.

Topic: What is the best decentralized exchange? (Read 231 times)