What's your opinion on the future of Decentralised exchanges - page 8.

Ziskinberg

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Quote from: nara1892 on December 08, 2022, 04:56:18 PM

FTX's downfall is indeed still a quite dire scourge as well as a warning alert for other exchanges because no matter how good it is, sometimes when we don't know what the depth is, it's also very difficult.
But talking about Binance there is a slight difference it seems and indeed they are still going to be on top now but we also can't say that this will also be free of suspicion because vigilance still has to be exercised now especially after some of the events that have happened right now.

That certainly has a huge impact on the industry but I know people know how to assess exchanges if they can be trusted or not. Despite the situation, traders are not leaving CEX (like Binance) because they believe that this is just an isolated case. But yes, this issue could lead to some worries in the later part that one day there is another scam story happening again, and the more they are careful about their money and gives them a lesson for not leaving their funds in the exchanges even if it was reputable.

Finestream

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Quote from: Yamifoud on December 08, 2022, 07:49:23 AM

Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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 couldn't assume that this will affect and influence attention to the community but what just I see is that what happened to FTX will affect the trust in CEX.
And even Binance could not escape from it and the criticism made but of course, reputable exchanges whether it was Centralized or Decentralized exchanges will remain active and stand strong despite what is happening around them because their intention is not to fail people's views and scams traders but for them to give satisfying services and can be trusted.

Reputable exchanges will always be reputable, unless if they start changing their perception and start ruining their own credibility. But I know having Binance as the topmost reputable centralized exchange, will always be like that because they have set their goals and have eventually achieved it in the longest period. However, with FTX scandal, everyone is scared now to trust another centralized exchange, so if there will be proven reputable decentralized exchange, for sure it will pave its way now and start to be noticed.

nara1892

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FTX's downfall is indeed still a quite dire scourge as well as a warning alert for other exchanges because no matter how good it is, sometimes when we don't know what the depth is, it's also very difficult.
But talking about Binance there is a slight difference it seems and indeed they are still going to be on top now but we also can't say that this will also be free of suspicion because vigilance still has to be exercised now especially after some of the events that have happened right now.

Johnyz

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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?

We might see the good volume for DEX transanctions again after what happened to CEX. Many started to transfer their funds to their personal wallet and if there’s a good update for DEX then we might be able to see big changes and maybe DEX can have a good volume again. The issue of FTX is a wake up call to everyone, we should start thinking for the best alternative, and make no mistake again.

btc_angela

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Quote from: BD Crypto on December 08, 2022, 05:12:27 AM

In cryptocurrency we all know that "Not your Keys, Not your Coins" and that's why I think in near future decentralized exchanges will be the most popular and safest way to buy or sell cryptocurrencies. Already they are getting huge popularity and intention from a huge number of users.

This is true, but have you heard of any decentralized exchange being the same or more popular let's say like Binance? There is none because crypto traders still prefer centralized exchange. And even if we have seen like the collapse of FTX, once everything has settled down, they will still go back to where they used to, that is to trade on centralized exchange. I have nothing against decentralized exchange, but I don't see them having the same love as compare to centralized exchange. Once reason is that it's hard to trade on decentralized exchange as it is too slow and then the question of liquidity as well.

Silberman

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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?

There are many exchanges that sell themselves as being decentralized but at their core they are still centralized, so those exchanges are not only not providing any additional protection to their customers they are even lying to them which is even worse in my opinion, however true decentralized exchanges are bound to get more popular, however I do not know if that is going to be enough for them to become more popular than binance, as the collapse of FTX has benefited binance as well.

Cantsay

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If after the FTX incident anyone still wants to leave their funds in a centralized exchange it means that they probably shouldn't be in the crypto space in the first place.
Even before FTX went bankrupt so many users have always been against centralized exchange
the FTX drama only gave them more proofs why centralized exchange shouldn't be trusted.

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Quote from: fzkto on December 08, 2022, 09:58:20 AM

Centralised exchanges are not only useful for converting crypto to fiat. CEX offers margin trading, which DEX does not yet have and probably will not in the near future. This is probably the only difficulty for DEX at the moment. If it were implemented, many people would probably give up on CEX.

I think dex could offer margin trading as well, it would be difficult but not impossible. How could it be done? Well, simply you would be putting up a margin trading on a dex with betting mindset, and there would be people who loan out that money simply, and then if the price goes wrong direction even a bit, you would lose all your money, and the winner would pay the loaner and then the rest of it would be their profit, so even a 1% drop would make you get the whole money from the opposite side, and that is how it is done at CEX anyway, they just provide the risk factor, someone else just like liquidity provider at dex would end up doing it.

alexandr1115

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Of course! decentralized exchanges are attracting more and more interest!! In fact, they are much more convenient because you do not need to register, and that's their plus!! of the minuses, of course, there is such a moment that they only support tokens on the Ethereum platform, and maybe this can be attributed to the pros!

coinerer

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Decentralized exchange is more trustful then Centralized . When we deposit a crypto in a centralized exchange, the full control of that crypto remains with the exchange authority, so the risk is high. There is no guarantee that our money can be scammed at any time from here. As is the case with FTX . so in my opinion in the future DEX can be a great agency for exchange crypto without any doubt .

JunkieMiner

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I think, as we have seen most times, that Decentralized Exchanges are still good for users and after FTX, most people turned their faces towards Decentralized Exchange, and I think that it supports the Decentralized Exchange that will give a further pump to this one. I don't think that all, but most of them will rise.

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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 believe that decentralized exchange platforms will have a lead in the future, and the reason is that they are safer because there is a relatively small possibility of hacking them, because users' information is not stored on a central server, and each user has complete control over his wallet, in addition to its integration with most cold wallets, Also, what distinguishes decentralized platforms is that they have greater privacy and protect their users from governments and central entities because they are equivalent to a distributed blockchain network. As for centralized exchange platforms, the matter is different, as they are similar to banks, and this means that there is a central authority that controls the users’ wallets and their funds and the entire platform, so it is less secure and vulnerable to hacking, which makes it a prime target for hackers.

Yogee

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges?

The unfortunate thing despite what happened to FTX is that traders will still choose CEX over DEX. You see news about people pulling out their funds and putting them into self-custody wallets but I think they are just waiting for improvements on centralized exchanges before they start depositing huge money again. Part of the improvement is the stricter regulation.

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Quote from: vv181 on December 08, 2022, 08:57:48 AM

What the FTX insolvency already brings is the awareness of people to favour self-custody over storing their funds in third-party services or platforms. It is very unlikely the recent downfall affects the decentralized exchange userbase significantly. I think one of the main causes for people using a centralized exchange is to convert their crypto into FIAT, conveniently. And that is the part where decentralized exchange loses.

Uniswap and Pancakeswap won't solve the issues since their current features are lacking into what the user mainly seeks, which is FIAT conversion. Not until the cryptocurrency adoption is widely spread, so users could spend it directly with an easiness.

Centralised exchanges are not only useful for converting crypto to fiat. CEX offers margin trading, which DEX does not yet have and probably will not in the near future. This is probably the only difficulty for DEX at the moment. If it were implemented, many people would probably give up on CEX.

asrinur

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I think not all decentralized exchanges are perfect. While most DEX are still less intuitive than some other centralized exchange platforms, Decentralized exchanges are generally fully permissionless meaning anyone can use them and allow users to maintain full control over their assets at all times.

posi

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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?

DEXs have also been around for a long time, like Bisq founded in 2014 but so far, its popularity is still not comparable to CEX today. Many people are still looking forward to the future of DEX, and when they see the fall of FTX, they expect even more but I still have doubts about the future of DEX. If they could really replace or provide services like CEX, they would have done it long ago rather than letting CEX take the market share like now. DEX needs a lot more effort if it wants to replace CEX.

vv181

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What the FTX insolvency already brings is the awareness of people to favour self-custody over storing their funds in third-party services or platforms. It is very unlikely the recent downfall affects the decentralized exchange userbase significantly. I think one of the main causes for people using a centralized exchange is to convert their crypto into FIAT, conveniently. And that is the part where decentralized exchange loses.

Uniswap and Pancakeswap won't solve the issues since their current features are lacking into what the user mainly seeks, which is FIAT conversion. Not until the cryptocurrency adoption is widely spread, so users could spend it directly with an easiness.

ryzaadit

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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.

Yamifoud

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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 couldn't assume that this will affect and influence attention to the community but what just I see is that what happened to FTX will affect the trust in CEX.
And even Binance could not escape from it and the criticism made but of course, reputable exchanges whether it was Centralized or Decentralized exchanges will remain active and stand strong despite what is happening around them because their intention is not to fail people's views and scams traders but for them to give satisfying services and can be trusted.

cryptoaddictchie

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Quote from: Crypt0Gore on December 08, 2022, 04:42:07 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.

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