What's your opinion on the future of Decentralised exchanges - page 5.

Tigerheart3026

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Quote from: abel1337 on January 05, 2023, 06:49:39 PM

Quote from: kawetsriyanto on January 05, 2023, 06:27:51 PM

I am not sure if people will prefer to use Uniswap or PancakeSwap in the future. I believe people won't stop to use top CEXs like Binance, Kucoin, Coinbase, or Kraken because they have good features for trading and have big volumes as well. But people will be more careful to manage their tokens, they probably won't keep their coins on CEXs for a long time anymore. They are aware that keeping coins on CEXs is high risk, CEXs can have a problem at any time. They can't secure their coins because CEXs that have a full control to the coins.

Decentralized and centralized exchanges has it's own advantage and disadvantages and it will all depends on the user on which weighs more. I personally prefer using decentralized exchanges but I still use my centralized exchanges for some pairs and other things such as P2P trading but I don't store a big amount of crypto on centralized exchange given that there's a risk in it.

i can't left from centralized exchanges, it is my first priority than decentralized exchange, the reason of it’s some features,
such as i trade in p2p on binance and kucoin exchange,
it is a big advantages to use centralized exchanges even though cex is high risk instead of dex.

Marcellin9

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Despite the setbacks in 2022, decentralized exchanges will have a bright future with a twisted development path. Centralized exchanges like Binance have been of importance and this will continue in the future as well. The best outlook is for CEX and DEX coexistence for a long time. Actually I firmly believe that the combination of both or more options is always in users interests and to eliminate one thing or another is just naive and incompetent to deal with problems.

Fatunad

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Quote from: abel1337 on January 05, 2023, 06:49:39 PM

Quote from: kawetsriyanto on January 05, 2023, 06:27:51 PM

I am not sure if people will prefer to use Uniswap or PancakeSwap in the future. I believe people won't stop to use top CEXs like Binance, Kucoin, Coinbase, or Kraken because they have good features for trading and have big volumes as well. But people will be more careful to manage their tokens, they probably won't keep their coins on CEXs for a long time anymore. They are aware that keeping coins on CEXs is high risk, CEXs can have a problem at any time. They can't secure their coins because CEXs that have a full control to the coins.

Decentralized and centralized exchanges has it's own advantage and disadvantages and it will all depends on the user on which weighs more. I personally prefer using decentralized exchanges but I still use my centralized exchanges for some pairs and other things such as P2P trading but I don't store a big amount of crypto on centralized exchange given that there's a risk in it. In the future when decentralized exchange caught up to the pros of centralized exchange, I'm pretty sure the users of decentralized exchange will overlap the reigning centralized exchange. Also, People will introduce their preferred decentralize exchange first into newbies unlike last bull market where majority of newbies only knows the famous centralized exchanges.

Yes, we community does really have on being decentralized but we cant really avoid nor ignore that there are things which we do mainly need and this can be only be seen on centralized ones specially on crypto to fiat
conversions which is something that you cant done on a DEX and its one of the cons but when it comes to security then there's no doubt that DEX would be the key.
This is why its subjective and its really that obvious on what places is really making that huge volume and liquidity due to those factors which it isnt really that surprising.

abel1337

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Quote from: kawetsriyanto on January 05, 2023, 06:27:51 PM

I am not sure if people will prefer to use Uniswap or PancakeSwap in the future. I believe people won't stop to use top CEXs like Binance, Kucoin, Coinbase, or Kraken because they have good features for trading and have big volumes as well. But people will be more careful to manage their tokens, they probably won't keep their coins on CEXs for a long time anymore. They are aware that keeping coins on CEXs is high risk, CEXs can have a problem at any time. They can't secure their coins because CEXs that have a full control to the coins.

Decentralized and centralized exchanges has it's own advantage and disadvantages and it will all depends on the user on which weighs more. I personally prefer using decentralized exchanges but I still use my centralized exchanges for some pairs and other things such as P2P trading but I don't store a big amount of crypto on centralized exchange given that there's a risk in it. In the future when decentralized exchange caught up to the pros of centralized exchange, I'm pretty sure the users of decentralized exchange will overlap the reigning centralized exchange. Also, People will introduce their preferred decentralize exchange first into newbies unlike last bull market where majority of newbies only knows the famous centralized exchanges.

kawetsriyanto

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I am not sure if people will prefer to use Uniswap or PancakeSwap in the future. I believe people won't stop to use top CEXs like Binance, Kucoin, Coinbase, or Kraken because they have good features for trading and have big volumes as well. But people will be more careful to manage their tokens, they probably won't keep their coins on CEXs for a long time anymore. They are aware that keeping coins on CEXs is high risk, CEXs can have a problem at any time. They can't secure their coins because CEXs that have a full control to the coins.

samcoin

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Quote from: Crypt0Gore on December 08, 2022, 03:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?

I think even the users of decentralized exchanges are exposed to breaches, because there are many aspects user should take care of when dealing with decentralized exchange, I see them as dangerous as the centralized ones for unexperienced people, for example, you might join false link and connect your wallet to, or lose a lot of money to pay unexpected fees. Moreover, some decentralized exchanges proved to be collecting users' info and some of them stated that they will apply KYC.

zasad@

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If I were involved in the regulation of crypto-exchanges, then it would not matter to me which exchange it is. Each address must go through the KYC procedure. If the address did not pass this procedure, then it should not be in the white list. If the project does not meet the requirements, then its leaders will be in jail. KYC operators will be appointed by the regulator.

laylagur

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Quote from: ryzaadit on December 08, 2022, 07:05:24 AM

You still need a centralized exchange.

Need a third party to get the money out until all-transaction is digital without any paper currency and other. I don't think compare each other right now is a good things to do, because both of them have cons & pron.

You still need both of them.

Centralized exchanges and decentralized exchanges must coexist. The assets of decentralized exchanges require users to protect their private keys or mnemonics. To a large extent, the task of centralized exchanges is heavier. In addition to protecting The assets of good users must also actively respond to hackers' theft. In addition, it is hoped that all governments will implement stricter supervision on centralized exchanges in the region to prevent the founders of centralized exchanges from doing evil.

wastagnn

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This incident had a huge impact on the industry, and many exchanges have learned from it. Decentralized exchanges are not completely safe, there are many exchanges that claim to be decentralized, but in fact they are still centralized. The FTX incident will bring more attention to decentralized exchanges, and it will become a popular and relatively safe way to trade cryptocurrencies in the future.

OcTradism

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Quote from: Apocollapse on January 04, 2023, 02:19:25 AM

Decentralized exchange has a fiat pair too, not only coin/coin. Also the UI/UX isn't that bad, it's still user friendly, people just don't want to learn about it. The first time when they use centralized exchange, they also don't have any idea how to trade their coins and willing to learn to explore the site. So there's no excuse to not use decentralized exchange due to not friendly UI.

Decentralized exchanges are better than centralized exchanges because you connect your wallets to their decentralized exchanges for trading. You own keys of your wallets so in theory, you and your coins are safe.

However, you must know that decentralized exchanges are not 100% safe to use. If you connect your wallet to a scam decentralized exchange and give it access to your wallet, if it is a scam exchange, they can move your coins to their own wallets.

Generally decentralized exchanges are safer than centralized exchanges if you use a trusted DEX.

Major Tom

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It is uncertain how the recent news about FTX will affect the popularity of decentralized exchanges versus centralized exchanges. Some people may view decentralized exchanges as more trustworthy due to their decentralized nature, but centralized exchanges may still be attractive due to their convenience and functionality. The adoption of decentralized or centralized exchanges will depend on user preferences, exchange features and services, and market conditions.

Apocollapse

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Quote from: jrrsparkles on January 03, 2023, 10:08:17 AM

I don't see any nominal growth in the volume of Dex and the problem with DEX is its not user friendly along with not appropriate for fiat trades so its still not under the alternative list of centralized exchange but I hope in future the things may change and more people will look into the DEX.

Also the exchange has to upgrade atleast better UI so the users will feel the ease of usage.

Decentralized exchange has a fiat pair too, not only coin/coin. Also the UI/UX isn't that bad, it's still user friendly, people just don't want to learn about it. The first time when they use centralized exchange, they also don't have any idea how to trade their coins and willing to learn to explore the site. So there's no excuse to not use decentralized exchange due to not friendly UI.

Quote from: My ThuiHa on January 04, 2023, 02:00:18 AM

People then trust decentralized exchanges more than they trust centralized exchanges.

Wrong, you must compare the trading volume in centralized exchange and decentralized exchange first, without any data you're just talking non sense.

My ThuiHa

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Decentralization will become the trend of the future. Decentralization promotes security, transparency, financial inclusion and regulatory clarity, and empowers individuals. People then trust decentralized exchanges more than they trust centralized exchanges.

Abiky

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Quote from: sana54210 on January 02, 2023, 01:19:22 PM

The thing is, the first ever problem with centralized exchanges were mt.gox, something that had nothing to do with crypto at its starting concept, that became a huge bitcoin exchange and got "hacked", don't know if that's true or not but that's the issue.

I personally need to explain to people that we moved on from mt.gox and still kept using it, dozens more crashed and got hacked and so forth, maybe over a million bitcoins (which is huge in a 21 million max supply currency) was lost from users, and yet we are still using it. Why? Well my simple understanding is that even if the money is gone from one user, it is at another user, and if not, then it's gone and leftover bitcoins are more valuable.

Undesired events like the Mt. Gox and FTX collapses can't be avoided due to the risks of centralization within the crypto/Blockchain industry. But I believe this will make crypto stronger than before as decentralized solutions gain traction in the mainstream world. Decentralized exchanges may not be popular now, but they will be when centralizing forces continue to minimize trust among traders and investors alike. There are already solutions in the works, to make DEXs as fast and cost-effective as their centralized counterparts. With L2 off-chain scaling, self-custody, and even Zero-Knowledge Proofs, DEXs could rival CEXs within the not-so-distant future. Who knows what would be of the crypto market in the long-term? Just my opinion

jrrsparkles

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I don't see any nominal growth in the volume of Dex and the problem with DEX is its not user friendly along with not appropriate for fiat trades so its still not under the alternative list of centralized exchange but I hope in future the things may change and more people will look into the DEX.

Also the exchange has to upgrade atleast better UI so the users will feel the ease of usage.

freedomgo

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Quote from: Crypt0Gore on December 08, 2022, 03:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?

Most probably, smart investors will focus more on the security of their funds, and might also transfer their funds from centralized to decentralized exchanges. After the event with FTX, even those reputable exchanges that we trusted at the moment, have also higher chances to be hacked in the future, so we should be more careful by now on where to put our funds that can be well safeguarded. If there’s one good thing that this FTX incident can offer, I think people now have become mindful in all their investments and assure their security by trusting them on decentralized ones.

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Quote from: cryptoaddictchie on December 08, 2022, 04:12:58 AM

Quote from: Crypt0Gore on December 08, 2022, 03:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?

Yes Binance could never be replace as trusted among cex and that would continue for more years to come. Somehow the event circulated on FTX, trigger some users to take a look deep on decentralized approach more. The convenience brought by cex somehow shattered due to a lot of losses of many people and that leaving trust on those very low.

Now that it happened. Surely many will do more security on their funds moving into non custodial wallets and services.

That’s the safest way to keep your funds instead, keeping them into non-custodial wallets. However, for senior citizens and those who are illiterate, who are still hodling their coins, I guess it’s hard for them to manage their hardware wallet and it would be better to just trust those centralized exchanges that have remain reputable and are still not hacked at the moment.

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Quote from: GreatArkansas on January 02, 2023, 02:17:00 AM

For me, Centralized Exchange will stay and Decentralized Exchange will too. There will be more adjustments,s especially in trading volume, if the issue just like what happened to FTX Exchange will continue with other exchanges, I believe that people will start not to trust centralized exchanges anymore, they will just deposit on centralized when they want to use and for sure volume of decentralized exchanges will increase massively.

I agree and also think that people at least users here in the forum have got a big warning in the Service Discussion to remove all their hard earned cryptocurrencies from centralized exchanges long before the FTX drama.Before FTX some other big one was the first of such level to fail and people panicked all over and also there were users complaining here so from that day there are warnings from reputable members of the forum to remove money from centralized exchanges,sometime not long ago also in the news when we just log in in the forum were a big message,please remove money from exchanges something in these lines as I don't remember well now.

sana54210

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Quote from: oaz7t on January 02, 2023, 02:33:28 AM

Unfortunately market is not going to change bit. Though we had bad experiences about the centralized exchanges and which is nothing new, people have always invested heavily into them and only use them for the purpose of volume, quick payment methods, staking features and high liquidity. They know that these features can not be provided by the decentralized exchangers. If they do then they are mostly shitty and not up to the standards of centralized exchangers. Obviously the second one has high roller investments, they can easily put money into the feature addition and do it with hired employees working around the clock for them. Considering all these facts I hate to say, decentralized exchanges won't be around in the future. May be centralized one will get stronger, will give more freebies to attract more commission and investors.

The thing is, the first ever problem with centralized exchanges were mt.gox, something that had nothing to do with crypto at its starting concept, that became a huge bitcoin exchange and got "hacked", don't know if that's true or not but that's the issue.

I personally need to explain to people that we moved on from mt.gox and still kept using it, dozens more crashed and got hacked and so forth, maybe over a million bitcoins (which is huge in a 21 million max supply currency) was lost from users, and yet we are still using it. Why? Well my simple understanding is that even if the money is gone from one user, it is at another user, and if not, then it's gone and leftover bitcoins are more valuable.

Abiky

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Quote from: trendcoin on January 01, 2023, 06:45:58 PM

Even decentralized cryptocurrency exchanges' own tokens or defi projects' own tokens are competing to be on Binance. We really live in a great contradiction... Of course, there are several logical reasons for this, but by now decentralized exchanges should have been more popular and had market dominance. However, there is no such image in the market. I want decentralized exchanges to be in a better position, but I don't have optimistic forecasts about them when I'm realistic...

Everything is turning centralized these days. You can thank the government for that by introducing fierce regulations across the crypto industry. It's this reason why decentralized exchanges can't succeed in the mainstream world. Centralized players dominate the industry by a large margin, so DEXs will only remain as an alternative (rather than a replacement) to those who need it the most. Not even cross-chain atomic swaps will save the day.

People want convenience, so they will choose centralized exchanges even if that means trusting a third party to help secure their crypto funds. It's a dark future ahead for crypto/Blockchain tech. Only those projects that remain decentralized will be able to stand the test of time. As long as there's resistance against full centralization, we should have nothing to worry about. Just my thoughts Grin

Topic: What's your opinion on the future of Decentralised exchanges - page 5. (Read 1435 times)