What's your take on CEX platforms integrating DEX capabilities like swapping?

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Quote from: lvsca on November 15, 2023, 11:04:52 PM

I am very enthusiastic about crypto. my last few trades were on the DEX market. This is no less scary than the futures market. but they provide many benefits with low capital with high increases. but it is very difficult to find fundamentals there, because there are countless new coins released in a day. and DEX is not suitable for those just starting out.

dex was meant to give easiness for new coins to get listed and also it isn't really for the purpose of trading but instead for swapping and investing I think that what makes cex difference if compared with dex aside from the perspective of decentralization, thats why sometime liquidity in dex also really low that sometime the trading volume in cex is about few millions and in dex its about few thousand dollars.
cex integrating dex features is just a business decision for the sake of getting the best of both worlds.
but yes, its true that dexes usually aren't really newbie friendly, cex usually are more friendly for newbies considering UI and don't need to think about the gas fee and many more, its overall suitable for newbie because it was designed with that in mind meanwhile dex give alternative with its fast nature of swapping.

jeraldskie11

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I don't think so, unless it's truly useful to add swapping features. Binance already has the same feature, instead of "swap," they use "convert," and you don't have to pay a fee because there is zero fee. So, if that swapping feature is going to pay for the fee, I don't think there's anything new that will surprise us.

Quote from: South Park on November 17, 2023, 04:04:38 PM

Quote from: kojektea on November 15, 2023, 10:25:55 PM

I prefer CEX. I know this doesn't seem like a true characteristic of crypto. but they don't cost too much in contrast to DEX where all activities require fees. even if it is small but if done repeatedly the result will still be quite large, at least it is bigger than CEX. Another advantage of CEX is that any mistake can still get help, in contrast to DEX where one mistake will completely lose our assets.

At the end this is a matter of preference and no one is going to force another to use their coins in a way they do not want, I think that at this point it is undeniable that a CEX is more practical than a DEX, however DEXs are slowly improving, and while it would seem that a CEX will always be more practical than a DEX, if they are able to close the gap and make it as small as possible then I would expect a great deal of people deciding to use a DEX over a CEX.

Even as it improves, CEX is also working to make it better, more efficient, more user-friendly. I believe we should not compare these two because they are not the same. I believe it is preferable to compare CEX to another CEX and DEX to another DEX.

Captain Corporate

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The part I really would love to see would be Liquidity providing, because we have so much crypto being just held for no good reason at all, and yes I know that if you end up putting way too much into something the result would not be all that much profiting, like for a btc/usdt pair, there would be billions at a place like Binance and that would mean that LP would not make you a lot of money, but even %0.1 a year is better than zero, so I think something like that would be great, plus there are hundreds of pairs in tens of exchanges that could be done. Yes that would be weird to see on a CEX, but it would definitely allow people to have a chance to make money, only if we can figure out a way to stop the bots that just ruin the price of something using LP automatically.

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Quote from: kojektea on November 15, 2023, 10:25:55 PM

I prefer CEX. I know this doesn't seem like a true characteristic of crypto. but they don't cost too much in contrast to DEX where all activities require fees. even if it is small but if done repeatedly the result will still be quite large, at least it is bigger than CEX. Another advantage of CEX is that any mistake can still get help, in contrast to DEX where one mistake will completely lose our assets.

At the end this is a matter of preference and no one is going to force another to use their coins in a way they do not want, I think that at this point it is undeniable that a CEX is more practical than a DEX, however DEXs are slowly improving, and while it would seem that a CEX will always be more practical than a DEX, if they are able to close the gap and make it as small as possible then I would expect a great deal of people deciding to use a DEX over a CEX.

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I am very enthusiastic about crypto. my last few trades were on the DEX market. This is no less scary than the futures market. but they provide many benefits with low capital with high increases. but it is very difficult to find fundamentals there, because there are countless new coins released in a day. and DEX is not suitable for those just starting out.

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if we are true crypto enthusiasts I'm sure we will be happy with DEX. It's just that this has quite a few limitations, such as expensive consecutive transaction fees and sell orders that cannot be placed. Even the trend form of DEX is quite complicated to understand because any coin from the blockchain can enter there and the exchange is usually free, you just need a liquid pool.

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I prefer CEX. I know this doesn't seem like a true characteristic of crypto. but they don't cost too much in contrast to DEX where all activities require fees. even if it is small but if done repeatedly the result will still be quite large, at least it is bigger than CEX. Another advantage of CEX is that any mistake can still get help, in contrast to DEX where one mistake will completely lose our assets.

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Quote from: taufik123 on November 15, 2023, 06:58:43 PM

But in fact, now many popular Exchange platforms such as Binance combine CEX and DEX and are now also available with Web3 which makes it easier for users to connect to Binance using the address created on Binance's Dex.

They are capable to build those products, DEX and Web3 wallets, why they refuse to do it if it brings income to their business?

It is what Binance and other centralized exchanges have been doing, building fake DEX and also web3 wallets, as one of ways to increase their business income and at the same time help them to lose customers to actual decentralized exchanges.

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It all depends on whether people want to use it or not.
Problems with security or vulnerability to hacking, it's a choice of whether to use it or not.

Now new investors are no longer critical of CEX or DEX issues, they can only use what has been created and provided, especially with quite complete features.
But all do need to be aware and your key is not your asset. DWYOR.

They can use actual decentralized exchanges, with no KYC policy
https://kycnot.me/

With Web3 wallets, they must be careful with token approval access to their wallets. There are three tools to revoke smart contract access.
How to revoke token approvals
https://app.unrekt.net/
https://revoke.cash/
https://etherscan.io/tokenapprovalchecker

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Quote from: Cookdata on November 15, 2023, 03:08:24 PM

-snip-
Combining Cex and Dex is nonsense and pure trap, why create a seed for me that is connected to the internet and it's coming from an exchange, who will belive such that it's safe for me to use it as back up when I know that it will have a back door. Very soon, we will start to hear from customers that they have started to lose their coins that are been kept in exchanges.

Cex and Dex two different world, they should never coexist even for once.

But in fact, now many popular Exchange platforms such as Binance combine CEX and DEX and are now also available with Web3 which makes it easier for users to connect to Binance using the address created on Binance's Dex.

It all depends on whether people want to use it or not.
Problems with security or vulnerability to hacking, it's a choice of whether to use it or not.

Now new investors are no longer critical of CEX or DEX issues, they can only use what has been created and provided, especially with quite complete features.
But all do need to be aware and your key is not your asset. DWYOR.

TakeItEasy

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

We are talking and comparing about their little issues I have faced till today, first of all if I compare CEX with the DEX then surely the security system of CEX would be far better than we can expect from the DEX, because the CEX, we can't connect that much with other Dapps and the DEX we can connect with other too. And even I had heard mostly hacking about the DEX Exchange even due to their security issues. This is just my opinion although everyone has its own views how he look things. The market liquidity has already been higher and much higher in the CEX as compared to the DEX and when project list a token on the DEX they didn't provide a very high liquidity on DEX even though I have seen some good projects too.

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I can't speak for other people but I go on dex or pseudo-dex for the better security and privacy which most of these centralized exchanges won't be able to offer because they're fully custodial with KYC and AML polices which mind you, varies on extent as some may be relatively strict compared to others.

But honestly, as for swapping, I don't think it's necessarily a dex capability. I view it as an in general exchange thing.

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

I'm also having the same questions running through my mind with such features I'm seeing. However, these are what I think.

As of last year bull run, decentralized exchanges like Uniswap, Pancakeswap, Thor swap, and other dexes had incredible run and all were surrounded by different customers and since centralized exchanges are profit oriented, they are doing that to have their customers use one when there is demand, they get more profits from them.
They want to take out decentralized exchanges out of the market. There is still speculations surrounding CZ and Binance for killing FTX, who knows if this is another trap to kick out decentralized exchange out of the market since another bull run is fast approaching as many expected.

Combining Cex and Dex is nonsense and pure trap, why create a seed for me that is connected to the internet and it's coming from an exchange, who will belive such that it's safe for me to use it as back up when I know that it will have a back door. Very soon, we will start to hear from customers that they have started to lose their coins that are been kept in exchanges.

Cex and Dex two different world, they should never coexist even for once.

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Quote from: noorman0 on November 03, 2023, 07:49:19 AM

It's nothing new, you can actually find a swapping feature in various CEXs, it's called "instant swap/exchange".

The implementation of swapping on CEX is actually more efficient, because they usually only charge a relatively cheap service fee and the settlement speed is only a few seconds like regular spot trading.

This is largely due to the fact that it is permissioned. If those swaps on CEX were actually permissionless as DEX are then they'd likely take around the same amount of time. In uniswap, there are plenty checks that needs to be done like slippage, if the pool reserves are enough to service the swa, etc. In the case of CEX, the process is streamlined since there's plenty of liquidity in place that is powered by market makers.

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Quote from: rat03gopoh on November 09, 2023, 06:41:49 AM

I see it, I haven't used binance for a long time. Only the mobile app is still installed and it doesn't show the benefit points like the wider view version. Have you proven it is free or at least cheaper when compared to the spot market? I see they also enable price slippage.

I tried some CEX and all the platforms I used have this feature with the same name. You need to search for it and it provides a simple exchange without fees and at the same price as Bitcoin at the moment you click on the button. However, it is instantaneous and you cannot sell at a specific price or choose the exchange rate. Either you agree to the price or reject it.

Quote from: joniboini on November 14, 2023, 09:41:40 PM

I don't think the market for DEX will vanish even if CEX implements most of its features.

If the bills are passed in their current form, all DEXs will require users to complete KYC, so I assume DEX will be limited to p2p.

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Quote from: bayu7adi on November 10, 2023, 10:16:22 AM

I think it's their strategy to attract more users, considering that simple decentralized exchanges like Uniswap allow instant trading with always-updated rates. The use of DEX like this was quite popular on Ethereum and BSC networks, so perhaps by drawing in altcoin users who are used to such DEX, centralized exchanges can gain more users through this new feature adoption.

Perhaps it's not that. DEX, probably, don't have the ability to build the features that allow users/traders to make limit orders, merely swaps which are truly just market orders. Users could already use market orders for instant conversions if they're in a hurry in CEX. "Swaps" are not a DEX-only feature.

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I still prefer order books and queues... they feel more familiar to me compared to the swapping method, where the rates sometimes can't compete with the actual market.

It's also more efficient and cheaper. Although, KYC in centralized exchanges is something many user wants to avoid. The DEX gives everyone a less efficient alternative.

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Actually quite good. It's just that sometimes the price during swap has a slight difference. It's just that it's more practical. similar to instant orders in regular Cex trading. I usually use the swap feature on Cex when I'm in a hurry. And I think Cex which has this also makes its customers more comfortable and complete. But even though the features are similar to Dex, we need to know that it is Cex ( centralized). And in the end, if you want to be truly uncentralized then it's still more comfortable to use the original Dex.

joniboini

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I don't think the market for DEX will vanish even if CEX implements most of its features. Unless CEX somehow allows non-KYC/registered users to trade or replicate the DEX login-less feature (only using a web3 app like Metamask), DEX will still exist. If that does happen though, it will be interesting to see how long it will last, unless they are registered in some obscure location that has no laws (which is likely a scam anyway).

Personally, giving up personal information is one of the key reasons why I find using a new CEX a terrible alternative if one of my main liquidation methods/trading platforms breaks. I'd still use DEX or P2P even if most of the features I need are provided by the new exchange.

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Quote from: cryptoaddictchie on November 08, 2023, 02:20:36 PM

Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

Well they can still do that right? But the only difference is the feature is known as dex but in reality the system is centralized. They can use that all they wanted but people wont be swayed by thinking its working as decentralized approach sicne they have total control over it. I think its business situated at all so I dont mind if they imitate or do the dex process.

I think you guys are taking it way too out of proportion here. There is no imitating in this, it's a feature that they could add for the convenience of their customers and so that their customers don't go somewhere else for the same thing and I don't see anything bad or wrong in that. After all, they are running an exchange and it's a business for them, they are providing their services to us and earning money in return for that, so they will try their best to provide us with everything that we might need while trading or involved with cryptocurrencies so that we use them only.

Decentralized exchanges didn't invent that feature, it's not like it's someone's idea that is being stolen, it's just a way of converting cryptocurrencies back and forth without having to go through the spot market and making a limited trade to get it done, it's much quicker and easier, and if they can provide the feature, I don't see why not.

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I think it's their strategy to attract more users, considering that simple decentralized exchanges like Uniswap allow instant trading with always-updated rates. The use of DEX like this was quite popular on Ethereum and BSC networks, so perhaps by drawing in altcoin users who are used to such DEX, centralized exchanges can gain more users through this new feature adoption.

I still prefer order books and queues... they feel more familiar to me compared to the swapping method, where the rates sometimes can't compete with the actual market.

South Park

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Quote from: hyudien on November 09, 2023, 07:35:52 AM

Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

I find the Swap and Convert options on some CEX platforms to be very helpful and are features I always use. Because by providing a swap feature, without realizing it, the CEX platform is also trying to ensure that users do not exchange elsewhere as much as possible. Creating more ways to continue engagement in it and with low cost offers. This is an innovation that has been implemented in several CEX platforms that have personally been my choice so far. If you want to exchange small amounts of coins or tokens, such as on the ETH network, you don't need to worry about high fees.

That is normal for any business, what a business wants is for their customers to use their services as much as they can and to avoid for their customers to use their competitors, as if you do and you like something about that other service then you could replace them, and if enough people did this then their revenue could drop significantly, so it is natural that in this case exchanges are implementing all the features they can in order to keep their clients happy and within their platform.

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Quote from: hyudien on November 09, 2023, 07:35:52 AM

Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

I find the Swap and Convert options on some CEX platforms to be very helpful and are features I always use. Because by providing a swap feature, without realizing it, the CEX platform is also trying to ensure that users do not exchange elsewhere as much as possible. Creating more ways to continue engagement in it and with low cost offers. This is an innovation that has been implemented in several CEX platforms that have personally been my choice so far. If you want to exchange small amounts of coins or tokens, such as on the ETH network, you don't need to worry about high fees.

That's basically the method they are using to make sure that they are more inclusive and get all the people they possibly could. I am not saying that is the best way, but it is certainly a great method that they could benefit from, that should always be the most important thing for them. I get that it is not that easy to handle it all, but it is not that bad and could be a very good deal.

The return of investment that people may have, is tied directly into how much they trade, and the more they trade the more they "may" make profit, they could of course lose too, but an exchange that makes you want to trade there all the time, will certainly make money no matter if you win or if you lose. They make profit from the trading fee, meaning that swap or exchange or trade, whatever you do, spot or futures or anything else, it doesn't matter to them, they just want you to trade as much as possible so that they could make more and more profit on the long run.

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Laughable that "swaps" are considered a DEX "feature" now integrated in centralized exchanges. Tell me I'm wrong, but the reason why decentralized exchanges only have swaps is because they can't, or it's too complicated, to implement limit orders decentrally. I believe they need to build centralized features to have the efficiency of their centralized counterparts.

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

I find the Swap and Convert options on some CEX platforms to be very helpful and are features I always use. Because by providing a swap feature, without realizing it, the CEX platform is also trying to ensure that users do not exchange elsewhere as much as possible. Creating more ways to continue engagement in it and with low cost offers. This is an innovation that has been implemented in several CEX platforms that have personally been my choice so far. If you want to exchange small amounts of coins or tokens, such as on the ETH network, you don't need to worry about high fees.

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Quote from: jeraldskie11 on November 07, 2023, 11:53:35 AM

I have tried doing this in my pc without logging in my account but it works.

I see it, I haven't used binance for a long time. Only the mobile app is still installed and it doesn't show the benefit points like the wider view version. Have you proven it is free or at least cheaper when compared to the spot market? I see they also enable price slippage.

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

Well they can still do that right? But the only difference is the feature is known as dex but in reality the system is centralized. They can use that all they wanted but people wont be swayed by thinking its working as decentralized approach sicne they have total control over it. I think its business situated at all so I dont mind if they imitate or do the dex process.

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Quote from: rat03gopoh on November 05, 2023, 01:30:35 AM

Quote from: jeraldskie11 on November 03, 2023, 12:30:09 PM

if you're using Binance with it's new feature "convert", you really don't have to pay for the fee.

Which feature are you referring to? I honestly just heard this about binance, would you mind giving me the page (without logging in if possible).
All I know is conversion feature of the dust balance to BNB, and even that requires a fee.

I have tried doing this in my pc without logging in my account but it works.

First, you have to "login as guest".
Second, click "All" on the left side of the screen.

Lastly, find "convert" then click it.

You can convert any cryptocurrency you want. It's clearly stated below that there will be no fee, and there is guaranteed price.

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quite literally so many exchange out there already have such feature of instantly swapping from few years ago, it's called instant swapping or something, but if what you mean is integrated with some of the dexes out there into their own platform then that's something new I guess.
Personally i have no problem with that, its a business after all and they always try to give the bleeding edge feature to their customer for the sake of keeping them in the platform.
so this could be very well a good business decision from their standpoint but personally I think cex and dexes could work together.
the main reason why cex are still leading the business right now is because the processing of transaction doesn't need to be in chain, meanwhile everything that dexes trying to process needs to be on chain which requires fee.
its even more problematic when you're dealing in high fee blockchain like ethereum.

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Quote from: el kaka22 on November 03, 2023, 11:09:41 AM

There are some places that are taking whatever features that people liked with DEX, but that doesn't mean that it's actually decentralized, plus not like we really need it to be like that neither, we are fine with as it is and shouldn't really approach it any differently.

I personally believe that the best thing we could do at this moment is to make sure that CEX we use will not scam us and take all our money and leave, there has been a lot of places like that, so do not invest into some small cap exchange just because it has your favorite new meme shit token, there are a lot of people who lost millions combined just because of things like that.

Real centralized exchanges, ones like coinbase, binance and so forth are real places that people like to keep their money in, and those places are much better than any decentralized exchange you can think of, it's really making a big deal out of the situation and should be used a lot more on the long run whenever you can.

Rightly said! Most Exchange users are comfortable keeping their funds in and using some of these existing CEX and following the recent news of Regulations and all, I think some are really trying hard to keep up to the expectation of the people in order to show their commitment to their users. I read of a particular CEX, I think Bitget in short secession making partnership with an off Exchange digital asset custody outfit, increased their user protection funds and updating their proof of reserve. They also along with Binance, coinbase and others are among the top cex that have implemented it. All these I feel are geared toward satisfying their users and making their Platform more attractive to investors. We shouldn't mind the bad elements in the space and ignore the efforts of the few commitment ones.

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

The only difference I see is that you don't need to pay for the gas fees for your transaction. Actually CEX has most of the capabilities a dex has and on top of that CEX provides some extra benefits like massive liquidity and excludes the necessity of transaction fees. Perhaps this is a reason why CEX is still more popular than dex even after incidents like Mr.Gox and FTX where their users lost millions of dollars worth of assets.

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Even if you have to pay a little bit of fee that doesn't mean you should compromise your privacy. Decentralized things implemented in a centralized platform doesn't make it decentralized. Instead, it's just a feature which is centralized but act the same way as decentralized platform. So if privacy is your first concern, things like decentralized exchange which is swapping / converting that are implemented in centralized exchange should not be take into consideration.

It cost a little bit more or it cost a little bit which is available free in centralized platform indicates that those centralized platform are taking advantage thus they are giving the service for free. Could also be for attracting more people. But the more people use the service the more money they make.

Something was just cheap isn't always bad and also something that cost a bit more doesn't mean it is good. But when there are hidden agendas involved, doesn't matter how cheap it is, it is better to stay away from it. Use the thing that is meant to be doing what it says even if it cost you. You are the one who keeps your assets safe. Those centralized platform aren't going to take any blame for your losses.

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Quote from: GreatArkansas on November 04, 2023, 03:52:50 AM

Still, if your funds are still in their custody, I don't see any Decentralized thing there because they are the one who holds your funds.
You are using a centralized cryptocurrency wallet while using a Decentralized Exchange (DEX)? Why just use your own self-custody cryptocurrency wallet?

Well, what do you expect? They only adopt some of the decentralized exchange capabilities anyway, and inspite of it, they are still a centralized exchange. If we don't like our funds being hostage by a centralized exchange, we are always welcome of using a decentralized exchange. On the second thing that you said, many are like that and it's funny right?

If they truly support decentralization, then they should also use a decentralized wallet, but I guess there is this unique feature that only a centralized wallet and exchanges have and this is why they are still leading. People are willing to sacrifice their privacy and security, only to avail those.

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This step is supposed to expand the features of the new hybrid platform so that it has all the features and anyone who wants any use will find it, whether he wants to use the platform with identity verification or not.
Is this what will happen? No, in fact, it will combine the disadvantages of both platforms while trying to defraud some users by giving them the ability to trade without requesting data from them. Try to stay away from such platforms, as they often search for hot words.

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Quote from: jeraldskie11 on November 03, 2023, 12:30:09 PM

if you're using Binance with it's new feature "convert", you really don't have to pay for the fee.

Which feature are you referring to? I honestly just heard this about binance, would you mind giving me the page (without logging in if possible).
All I know is conversion feature of the dust balance to BNB, and even that requires a fee.

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

They, centralized exchanges, can create their Decentralized exchanges. You can use their DEX or refuse to use their DEX but with different reasons to accept their DEX product or worry about it and don't use it.

Is it a good platform that is decentralized if it is built up by a centralized team with many members like founders, core members, compliance and marketing team members are known by governments and the public?

It is not good and if you think their DEX is actually decentralized, you have to correct your thinking. A true decentralized exchange must be built by an anonymous team to help it can not be shut down by arresting a founder or a core team member.

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Quote from: yhiaali3 on November 04, 2023, 10:47:34 AM

What is the difference? It remains central in the end. It is true that it provides services similar to DEX, such as instant swap as well as liquidity, but they all remain central services, and this is the worst of the matter.

The big advantage that DEX offers regardless of liquidity is decentralization, so if DEX switches to centralization it will no longer have this big advantage and its use will be greatly reduced.

So I personally find no benefit from CEX platforms that integrate DEX capabilities.

You may not find this feature not favorable on your end, but I believe a lot of traders are using it.
Some traders are trusting CEXs because they can easily get support when they need it, particularly from those top trading platforms.
This integration actually is not new, it has been there for quite a while now as they need to cover all potential clients.
In my opinion, the use of this feature depends on the trader himself, whether he sees this as advantage for him or not.

Hamza2424

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Quote from: ?? on ??

I think the idea of traditional exchanges adding features from DEXs is quite interesting. It's like combining the best of both worlds. CEXs can become more versatile and user-friendly by offering DEX-like features. IMO, this would make trading cryptocurrencies easier for everyone.

I'm not sure about it but what I know is the centralized exchanges are almost hitting their limits there's nothing they can do anymore, the reason why they're still the center of attention is due to the new entries in the industry and the only cheap option, but when it comes to the transparency & security they really cant offer better than this.

No doubt their overall user experience is far more developed compared to the DEX's but what DEX's are offering is far more superior to the centralized excnages, I'm sure in near future with the network fees solution ther'e gonna lead the way.

yhiaali3

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What is the difference? It remains central in the end. It is true that it provides services similar to DEX, such as instant swap as well as liquidity, but they all remain central services, and this is the worst of the matter.

The big advantage that DEX offers regardless of liquidity is decentralization, so if DEX switches to centralization it will no longer have this big advantage and its use will be greatly reduced.

So I personally find no benefit from CEX platforms that integrate DEX capabilities.

Z_MBFM

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Quote from: noorman0 on November 03, 2023, 07:49:19 AM

It's nothing new, you can actually find a swapping feature in various CEXs, it's called "instant swap/exchange".

The implementation of swapping on CEX is actually more efficient, because they usually only charge a relatively cheap service fee and the settlement speed is only a few seconds like regular spot trading.

Yes CEX exchanges have now started offering Web3 facilities. a popular exchange like Binance has also launched it. there are swap facilities and you get a different wallet and also have a system to back up that wallet. so I agree with you that this is nothing new. But it will have full cex account connector and depend on it so it can't give full joy of DEX. Cex and Dex will not be the same but two completely different things.

The Future

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

I think it's a pretty interesting development to see centralized exchanges (CEX) incorporating decentralized exchange (DEX) capabilities like swapping. This trend seems to be driven by the growing popularity of DeFi and the desire for users to have more control over their assets. It could potentially offer users the best of both worlds: the liquidity and speed of CEXs and the security and privacy of DEXs. One platform that comes to mind is BitgetSwap. It's a relatively new player in the space, and it's been gaining some attention.

GreatArkansas

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Still, if your funds are still in their custody, I don't see any Decentralized thing there because they are the one who holds your funds.
You are using a centralized cryptocurrency wallet while using a Decentralized Exchange (DEX)? Why just use your own self-custody cryptocurrency wallet?

Husires

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We cannot say that DEX capabilities are DEX unless the code is open source and you can host the service yourself or it is a type of P2P where you can access the private key and send money to guarantee it. It is a multi-signature wallet with 3 or more keys and one of these keys is for guarantee.
What is happening is that some CEX platforms are trying to attract some customers by adding features that do not require KYC or tokens that do not need to be listed, meaning that some CEX platforms are managing a smart contract and allowing others to use it.

Hamza2424

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

The swap system is not new to the CEXs, I think that good for both parties and ultimately good for the users where both of these competitors are gonna try hard to introduce new features to attract more users. The Only issue why still people are sticking to the CEXs is inappropriate information and Network fees.

The DEX trading costs far more fees compared to the centralized trading platform. I've seen maximum users preferring their trading activities on the CEXs and risking their funds custody just to save on the fees.

OP I have some suggestions for you such types of topics are really not considered Quality contributions, You should put more effort while creating a new topic, such questions can be asked on any relevant thread by mentioning any senior.

jeraldskie11

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Quote from: R1dwanRz on November 03, 2023, 06:55:35 AM

So, what's your take on CEX platforms integrating DEX capabilities?

In my opinion, having that feature on the CEX is not ideal because you can trade. The only advantage of having swapping feature is that you don't have to take multiple steps before you can have the crypto you desired. You can convert your token other tokes with trading so there's no point to add swapping feature in the exchange especially if you're using Binance with it's new feature "convert", you really don't have to pay for the fee.

el kaka22

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There are some places that are taking whatever features that people liked with DEX, but that doesn't mean that it's actually decentralized, plus not like we really need it to be like that neither, we are fine with as it is and shouldn't really approach it any differently.

I personally believe that the best thing we could do at this moment is to make sure that CEX we use will not scam us and take all our money and leave, there has been a lot of places like that, so do not invest into some small cap exchange just because it has your favorite new meme shit token, there are a lot of people who lost millions combined just because of things like that.

Real centralized exchanges, ones like coinbase, binance and so forth are real places that people like to keep their money in, and those places are much better than any decentralized exchange you can think of, it's really making a big deal out of the situation and should be used a lot more on the long run whenever you can.

libert19

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It's good, here you don't need to pay gas fees either.

noorman0

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[Nope]No hype delivers more than hope

It's nothing new, you can actually find a swapping feature in various CEXs, it's called "instant swap/exchange".

The implementation of swapping on CEX is actually more efficient, because they usually only charge a relatively cheap service fee and the settlement speed is only a few seconds like regular spot trading.

R1dwanRz

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So, what's your take on CEX platforms integrating DEX capabilities?

Topic: What's your take on CEX platforms integrating DEX capabilities like swapping? (Read 405 times)