What should you look for in a DEX? - page 2.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Run the following:

Code:

if exchange == BISQ: return "DEX"
else: return "CEX"

Simply, programmatically funnily, like that. Tongue

Jokes asides, Bisq is truly decentralized. If you don't want to trust your coins in any KYC-free promising CEX, then that's your best course (if not the only).

dkbit98

legendary

Activity: 2212

Merit: 7064

Quote from: Why you bully me on June 02, 2023, 05:53:30 AM

I want to look into dexes and I was wondering what is it that you would personally look for in a dex to see if it is good?

Remember this... most exchanges that have DEX label are not really decentralized, and most of them are based on centralized shitcoin blockchains.

We don't have many real DEX options but Bisq exchange should be mentioned first, you need to download open source software and run it in your computer.
BlockDX is also decentrlaized but last time I checked it didn't have much trading volume, and I don't think it gain any popularity so far.
Few other P2P alternatives can work as alternative if you are using mobile devices, like Peach Bitcoin, RoboSats or AtomicDEX wallet.

_act_

legendary

Activity: 1064

Merit: 1298

Lightning network is good with small amount of BTC

Quote from: Why you bully me on June 02, 2023, 05:53:30 AM

I want to look into dexes and I was wondering what is it that you would personally look for in a dex to see if it is good?

Check if the decentralized exchange have terms of service. If they have, you need to read it. From reading it, you will be able to know how truly decentralized exchange they are.

But if I will advice you, you can go for decentralized exchanges like Bisq. Other decentralized exchanges are not decentralized entirely but somehow centralized.

If you want some other decentralized exchanges, read the link that Coyster gave above: https://kycnot.me/

But the link is more about no KYC exchanges. The highest ranked ones are decentralized, especially Bisq which is the best among decentralized exchanges.

In a decentralized exchange, you should try and know the coins they support and the fiat they also support.

You should try and know about their trading volume also.

Yamane_Keto

hero member

Activity: 406

Merit: 443

True DEX mean that the code is open source, you download the exchange file, and have option to connect to other nodes via Tor other than this the word decentralization is really questionable.
It is true that there may be platforms that do not require KYC or are distributed, but they are centralized.

Quote from: Coyster on June 02, 2023, 07:32:11 AM

This site: https://kycnot.me/ helps you to select decentralized exchanges, you can read about the service you want to use and their features. If you are looking for a decentralized exchange, it is because you want one that would never request KYC from you, and you'll always trade without submitting any personal data to them.

You can rely on this site as a search tool, but do not trust the platforms listed on it. I think they were putting BetterCallRaul.it among the recommendations, which we discovered in the end that they are a scam, although it is clear that those who run the platform are not that professional.

https://bitcointalksearch.org/topic/bettercallraulit-domain-scam-confirmed-5453875

cryptoaddictchie

legendary

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Fully Regulated Crypto Casino

Quote from: Why you bully me on June 02, 2023, 05:53:30 AM

I want to look into dexes and I was wondering what is it that you would personally look for in a dex to see if it is good?

Cheesy

For me the low fees. Even its on eth network or other L1 or L2 as long as its fees arent that high and the dex is smooth then its good for me. Plus they supported a lot of tokens that are crosschain with other L1 since that could be very useful to me as I love to do some liquidity protocol on some dex. Bonus if they have a bridge cross chain function.

Z390

sr. member

Activity: 812

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Vave.com - Crypto Casino

I don't k ow about others but I use DoDoEX and GNS.Trade, they also have swaps like uniswap and 1inch but cheaper feel and faster transaction straight from your wallet is why I like Dex, I know they have other disadvantages but where Dex triumph over centralized exchange is they are a lot safer, there is no way you will leave your asset in anybody's care.

I will advice that you should stick with trusted Dex, there is a way you can lose your assets connecting your wallets to any Dex you find online, some are scam so they will ask for extra permission when you want to connect to them, read very well before you approve any permission.

ImThour

copper member

Activity: 1498

Merit: 1619

Bitcoin Bottom was at $15.4k

I would go for no deposit and withdrawal limits, no KYC required, and a lesser fee.
If they are willing to provide all these things, go ahead. If not, they aren't a complete DEX anytime soon.

Also, if they can add P2P that will be so good. Cherry on top.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: Potato Chips on June 02, 2023, 07:00:26 AM

Their reputation and if the platform fits my use-case.

Another thing is how true are their claims... For instance, a lot of these so called "DEXes" aren't actually decentralized as they implement KYC, block countries, rely on centralized servers, etc. Right now, only BISQ is actually decentralized.

Bisq is the only one in the bitcoin network.

However you can find some other to use eth or other blockchains. Uniswap , pancakeswap etc are other good options. They srte good for privacy if you have shitcoins and want to convert into stable coins with privacy.

IIrik11

member

Activity: 269

Merit: 37

🍀🍀🍀

everything good is either dead or dying.

someone already suggested kycnot.me..

so check that out and use the one that's most suited for ur needs.

also, look out for p2p cockroaches who ask for ids before trade.

another bad side of dex, u'll find 8-10% price markup. Sad

Coyster

legendary

Activity: 2184

Merit: 1302

This site: https://kycnot.me/ helps you to select decentralized exchanges, you can read about the service you want to use and their features. If you are looking for a decentralized exchange, it is because you want one that would never request KYC from you, and you'll always trade without submitting any personal data to them.

Bisq is fully decentralized, in the 'about' section of the site above, they have different KYC levels: https://kycnot.me/about, Bisq is a 10/10 because it is at KYC level: 0, meaning the exchange makes it clear that they would never ask for KYC: https://kycnot.me/exchange/bisq, thus it is the best option for p2p trading.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Their reputation and if the platform fits my use-case.

Another thing is how true are their claims... For instance, a lot of these so called "DEXes" aren't actually decentralized as they implement KYC, block countries, rely on centralized servers, etc. Right now, only BISQ is actually decentralized.

Why you bully me

member

Activity: 148

Merit: 13

I want to look into dexes and I was wondering what is it that you would personally look for in a dex to see if it is good?

Cheesy

Topic: What should you look for in a DEX? - page 2. (Read 319 times)