Topic: Why DEX (Decentralized Exchange) still unpopular? (Read 1360 times)
The most popular DEX at the moment is Binance DEX and it is quite popular, but it only operates with tokens on Binance Chain, so not all coins can be traded there. Trading volume is also low if to compare with Centralized Binance.
Decentralized exchanges are of low popularity due to low trading volumes. In this situation, they strongly lose to centralized exchanges. That is why so few people trade on them.
You would like to hear the reason? Because they are slow, they are slow as a speed of transactions on the chain where they are created.
In the past another reason was that DEXs weren´t user friendly.
In the past another reason was that DEXs weren´t user friendly.
Decentralised exchanges tend to lack most of the features and speed of centralised exchanges, decentralised exchanges still has a long way to go before it can be considered an equal to centralised exchanges, the only upside about using decentralised exchanges is that you control your funds at all times.
Because Decentralize Exchange it's low volume, and not safe. I am use Decentralized Exchange only for buy some coins because sometimes its very cheap.
The problem of decentralized exchanges is a terrible interface. Look at EtherDelta - it’s just impossible to work there. With the advent of IDEX, positive changes began, and now, when binance launched its decentralized exchange, we can safely say that this trend is developing! Let's see how CUBIEX grows in price, which conducts IDO on a decentralized binance exchange!
This is largely a matter of habits. Many traders already trust large, well-known exchanges and are in no hurry to change their preferences. DEX is much inferior to them in terms of trading volumes.
This greatly has to do with the perception of dex by a lot of people. Most people view the complexities of DEX and believe it will be much easier and better staying on Centralized exchanges than moving operations to Decentralized Exchanges. Initially, i never liked DEXs however, having tried them, I can confirm, they are much simpler and fluid to use than centralized exchanges.
I would like to add this to the list of Decentralized exchange that has good potential in the market I agree that Decentralized Exchange should have a place in our industry because we are in a decentralized industry
https://steemit.com/bitcoin/@hatu/switch-is-a-dex-that-s-actually-decentralized
https://steemit.com/bitcoin/@hatu/switch-is-a-dex-that-s-actually-decentralized
To me it seems most people understand the safety of DEX but the fact remain there is no liquidity in all these decentralized exchanges . Centralized exchanges is risky but most of them always have enough liquid for smooth trading and the traders always cherish an exchange with surplus liquidity.
Clarify for me, I can not replenish the balance binance dex token ERC-20 ?
If in a binance a decentralized exchange will have the necessary pairs, you can go there with pleasure, I would not mind that everything would be in my smartphone on a cold wallet. Keeping just on the exchanges you take off just responsibility for your assets, but safety is also lost. Controversial issue.
I am using some of them actively like IDEX or forkdelta (etherdelta). I think the most important reason is their unfriendly user interface. It is not easy to use them. That's why their volume is not big.
With the whole customer support services centralized exchange provides, is it all of them that do respond to all issues, I have seen many people complain how these people treat them and ignore their messages when they send any, there are some people that has had issues unresolved for months, which few exchanges that are reputable are the ones giving attention to their customers, so why should one really be crazy over this, the only issue most people do have is either their money get hung over the air, or they get hacked which I think you may not have any of these issues in a DEX exchange, CEX might be popular now, but DEX is really the best.
But, DEX exchange also has dangerous of hack, like phising hack.For example , Traders can get trapped on the phising web of DEX. They input the private key, then they lost all assets.
who told you that. for newbies or layzy guys, who can not try to understand, dex are unpopular. for example forkdelta is comfortable for buy cheap.
Simply because DEX is still not popular because it is not focused on companies and organizations. Since they cannot earn a lot of centralized exchange, currently only Binance is giving new ideas to make DEX (their) will have large volumes and users in the future.
But as you can see the binance dex is not comparable with its centralized exchange site consider about binance dex has 200x less volume compared with binance centralized exchange site. We can get various features from binance centralized exchange site and that looks more attractive than dex.
Everything can be hacked, even decentralised exchanges. The only one that really cares about the security of their users are guys from IDEX exchange, because the launched a POS mechanism to bring the security on the next level.
Simply because DEX is still not popular because it is not focused on companies and organizations. Since they cannot earn a lot of centralized exchange, currently only Binance is giving new ideas to make DEX (their) will have large volumes and users in the future.
Well centralized exchange is more friendly because there exist the customer support whereas most of DEX runs autonomously and usually the support comes from the community itself, but when people get used to the mechanism there's basically no different to centralized exchange in term of conveniences.
Thats the point, centralized exchange has customer support.Whereas, decentralized exchange has not it.So, the trader will comfortable when he face the problem on the exchange, customer support will help them.
Its mostly about the volume that we want. There is less in DEX, you can't dump all the altcoins you have if the only buy orders are worth just 2 ETH while you have about 25ETH worth of altcoins. Liquidity is always an issue in the new centralize exchange. For traders, they know where to put their money on and if DEX doesn't pair tokens/coins to BTC, it will have less volume no matter what.
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