What is the future for crypto exchanges?

rodel caling

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

Yeah that's right there's a lot of troubles facing today of binance, we can't blame people to continue use it because they offer a lot of freebies and fair transaction from their user's.
But the problem is due to their popularity, the hacker targetting binance exchange because they know thuge volumes of fund possible to steal.
Bu iI don't understand people why didn't try to use other exchange for their trading activities there a lot of exchange also offer good benefits and security like kurcoin.

leowonderful

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Bitcoin FTW!

I've never been a fan of sites like Changelly or Shapeshift mainly for the reason that sites like these almost always require KYC, and you're often paying pretty hefty fees just for using these platforms as well. I'd much rather use an exchange that doesn't require KYC that's more reputable than the exchanges I listed earlier, such as Binance. There's going to be exchange hacks for as long as exchanges are relevant, and if you just keep funds you're not actively trading off your exchange account and on a cold wallet you should be fine.

kawetsriyanto

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals.

I am just curious why you only stated Binance? And it seems you are like a hater of Binance exchange?
There are many exchanges with the same cases and you must understand that there will be no exchange with a perfect security system.
You must be fair to review the current cases on exchanges.

Anyway, we cannot determine the future of crypto exchanges by analyzing a problem on a single exchange only, right? Even if Binance is the biggest crypto exchange now, but it cannot reflect the condition on all crypto exchanges in the world.

ghermghuda

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Lol, you're somewhat right pertaining to the many issues occurring at our dear crypto exchanges, but we shouldn't forget that this market nd ecosystem is still underdeveloped and growing. Worse things have happened before and with time we're overcoming such many issues. We can all bear the fact that crypto exchange hack prevalence has reduced currently.
So it all comes to the matter of DYOR. Weigh the risjs3and benefits and go for it hehee.

cytpoway121

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Hacking and vulnerability apart; a lot of exchange platform will suffer
Just like tokens get delisted; a lot of exchanges will vanish and cease to function anymore

Kasabus

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Quote from: lillobo on August 21, 2019, 03:20:23 PM

I dont know why people are not using DEX. They are secure enough and transparent . Yet most of the people prefer centralized exchanges. There are a lot of dex in the market. Its time for people to turn towards DEX. I dont know when all are going to learn. Its a fact that centralized exchanges are prone to attack and hack.

DEX is what people are using right now, in fact, DEX has the best place to stay as the price seems to be not controlled by anyone nor the whales can do so.
What we are looking into some DEX doesn't have big market volumes causing them to fall down as most users and traders as preferable for the high volume exchanges. Not only of its transparency but considering also the fees and market value.

dabenko

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

I want to believe the OP is a fan or one of the team of Changelly or shape shift, because you have been creating a lot of threads on changelly, part of it are:
https://bitcointalksearch.org/topic/m.52071371
https://bitcointalksearch.org/topic/m.52080278
There are so many of them.
So it means the OP is shilling around.

He did not stop there, but has been going as far as talking more on Binance hack.

furball64

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

You create topics with almost the same semantic meaning and in all your examples cite the recent hacking of the binance. Why are you doing this?
Here is the previous topic you created: https://bitcointalksearch.org/topic/m.52215794

hulla

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

First, we need to understand that every crypto exchange site that is listed on the number 1 spot are always targeted by crypto hackers and contenders which sees it as there hinderances which were also the same thing that happened to Okex when it was on the number 1 spot.
Meanwhile, Binance actually the first crypto exchange to keep their user's fund save after hacker attack and for the personal data leak the problem is not from Binance end I as I read but their users act of been security cautious.
What we expect from a crypto exchange in the future is glaring that total security and exchange need to make research round the clock to achieve that.

lillobo

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I dont know why people are not using DEX. They are secure enough and transparent . Yet most of the people prefer centralized exchanges. There are a lot of dex in the market. Its time for people to turn towards DEX. I dont know when all are going to learn. Its a fact that centralized exchanges are prone to attack and hack.

FontSeli

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

You need to treat cryptocurrencies, and first of all, Bitcoin as the one that changed our world forever. This is a new version of money, the use of which is not tied to either banks or states. It seems that for each payment you pay a small commission, but try to send money through the bank to the other side of the world, you will pay a frantic commission for this.

You perceive cryptocurrencies primarily as a tool for making money with speculation. I see money of the future in them. Of course, now I also earn on the exchanges, but this is not my only income. I like investing in Bitcoin for a very long time.

If you are afraid of being subjected to hacker attacks on exchanges, do not want them to lose your data - do not use such exchanges. Cryptocurrencies can be changed directly and on decentralized exchanges.

sieemma

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Like many people predicted in 2017 that most icos are going to die by 2020 which is happening, same will happen to crypto exchanges. Now the idea has shifted from ico to IEO to creation of exchanges. The more this happens, the more likely we are to see dead exchanges like the shitcoins.

My advice is that never trust exchanges by leaving an amount you cannot afford to lose the next morning. Make your own due diligence before using an exchange because it takes less than a minute to type exchange has been hacked

BITDV

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I guess they still be a favourite exchange until two years ahead because of their responsible after bad things happened, and this is what i like. They are doing great job so no reason to leave that exchange, however everyone should not store their crypto wealth in an exchange.

I just hope future of crypto exchange will be better, i give many wish with DEX. It doesn't mean DEX is better than centralized exchange, both of them have advantages and disadvantages.

MECH100

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nothing serious will change the exchanges will also work as they do now. they will fight hackers and those in turn break them

d_fitrie

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Binance will still be popular in the next few years, but we do not know how the exchange will develop in the future, many exchange projects have just been released and have good potential to grow and may become Binance competitors in the future

livingfree

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Fewer people? not that really few but still many traders do trust them and giving them a chance to stand against those trials that they've met while they're going to the top of their success.

What to expect with exchanges in the future? my guess would be that our bank accounts can already be connected to an exchange and that will make deposits and withdrawals easier.

WalkerIVIV

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Quote from: caffu chino on August 21, 2019, 10:54:56 AM

Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

the future of crypto exchange is DEX. by using DEX we are safe, transparent, cheap and anonymous. the current exchanges are on average CEX, and the main problems they face are hacking and KYC. many investors don't like this. but with DEX we can get a solution.

Im not sure about that dude, we have plenties of dex but none of the can have a lot of daily trade volume and i can say that the future of crypto exchange site is not yet determined. I quite agree with you if you are saying DEX will be the future but the fact said the different thing when CEX is still impressive on its development compared with dex. Some dex is also applying account creation and verification due to be compliance with the regulations.

avikz

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

The merit of an exchange depends not on the hacking incident, rather it depends on how the exchange handled that hacking incident. I believe Binance did a great job here. First they have handled the 7k bitcoin hack with the help of their SAFU fund and the KYC breach case is still dicey! I don't remember, any other exchange has shown such kind of maturity in handling such unexpected events as on date!

If someone doesn't like centralized exchanges who work in close conjugation with regulators and runs a legal business, they can move to decentralized exchanges. But on the flipside, if anything happens in these exchanges, no one is going to take the responsibility like Binance did! They at least have a vision and the SAFU fund is one of the examples of that vision they implemented after coincheck hack!

Do you have any more similar incident?

caffu chino

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Quote from: btc_love on August 21, 2019, 08:29:40 AM

For today, the biggest crypto exchange Binance has too many troubles: hacker attacks, personal data leak, and the other scandals. Thus fewer people want to use it. What is more, such non-custodial exchanges such as changelly and shape shift become more popular. Crypto market changes fast. So what we should expect from crypto exchanges in the future?

the future of crypto exchange is DEX. by using DEX we are safe, transparent, cheap and anonymous. the current exchanges are on average CEX, and the main problems they face are hacking and KYC. many investors don't like this. but with DEX we can get a solution.

forexandcryptoauditor

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At the moment the biggest concern is that there are too many exchanges out there and daily new ones are coming in the market.
Since the issue with hacking and information leak, are lowering confidence of some users, on the other hand due to too many options are available to users, they're confused with which exchange should be used?
However I still see no big trouble for binance exchange in near future.

Topic: What is the future for crypto exchanges? (Read 210 times)