Why DEX (Decentralized Exchange) still unpopular? - page 2.

pishite

full member

Activity: 966

Merit: 132

Quote from: ikicha on June 10, 2019, 03:20:52 AM

Hi all traders!
Why you always using Centralized Exchange to trade Decentralized Asset?
Too many 'hacked' news or maybe "hacked by internal" at 2019, Cryptopia, Binance, Huobi, Etc.

Why traders still using Centralized Exchange?

Centralized Exchange

+ Huge Volume
+ Fast CS Response

- Less security
- Not your keys, not your coins
- Paid to list

Binance has launch Binance DEX but still have low volume and pair only for BNB (not BTC)

For me personally, it is more convenient to use decentralized exchanges, as there is a convenient interface and a lot of shopping pairs, but I am storing funds on my wallet, not on the exchange.

Backupnime

full member

Activity: 494

Merit: 104

homt.net

Quote from: Emitdama on June 21, 2019, 02:43:25 AM

I will still choose CEX over DEX at any time, I will prefer to use a system where I can know those who are operating the system and can hold any of them responsible if anything goes wrong with my trade, I understand that DEX exchange gives us the full freedom to trade or coins directly without the involvement of third party transaction, which is what really stands for the purpose of crypto, but if anything goes wrong in DEX, there is no one to complain to, so I will prefer CEX exchanges like Binance, which I am sure is reputable and will never scam people. The only feature I like about DEX is that it is hard to hack a DEX exchange.

by using CEX of course we can save more time when we want trying to trade because in Centralized exchange waiting for make transaction in market is not longer than we use DEX, because in CEX volume trade is to high than DEX, and for myself i'm still prefer to used CEX

Sellman

full member

Activity: 406

Merit: 112

Quote from: Emitdama on June 21, 2019, 02:43:25 AM

I will still choose CEX over DEX at any time, I will prefer to use a system where I can know those who are operating the system and can hold any of them responsible if anything goes wrong with my trade, I understand that DEX exchange gives us the full freedom to trade or coins directly without the involvement of third party transaction, which is what really stands for the purpose of crypto, but if anything goes wrong in DEX, there is no one to complain to, so I will prefer CEX exchanges like Binance, which I am sure is reputable and will never scam people. The only feature I like about DEX is that it is hard to hack a DEX exchange.

It is clearly that centralized exchanges (un-scam ones, of course) provide better supports for customers than decentralized exchanges. And, if something bad occurs, scam exits for example, there are chances to see some serious legal activities from local authorities to help customers to get their funds (part of their funds) back. For decentralized exchanges, chances get funds back are so small, very small. However, naturally we always need competitors to build up stronger and healthier crypto market.

Emitdama

sr. member

Activity: 1895

Merit: 328

Quote from: JasmineRose on June 16, 2019, 11:35:41 PM

But i like Dex. It can be manage wd well than centralized exchange. But i like cex also. For example binance, indodax from my country😁. I like all exchange. Except small or new exchange

I will still choose CEX over DEX at any time, I will prefer to use a system where I can know those who are operating the system and can hold any of them responsible if anything goes wrong with my trade, I understand that DEX exchange gives us the full freedom to trade or coins directly without the involvement of third party transaction, which is what really stands for the purpose of crypto, but if anything goes wrong in DEX, there is no one to complain to, so I will prefer CEX exchanges like Binance, which I am sure is reputable and will never scam people. The only feature I like about DEX is that it is hard to hack a DEX exchange.

Zdraste16

member

Activity: 442

Merit: 11

Decentralized exchanges will not remain without traders, many bounty hunters just need such as (Forkdelta, Etherdelta) there is an opportunity to sell tokens without waiting for them to go to the centralized exchange if this happens at all, and indeed such an option is possible.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: JuliaJi on June 20, 2019, 04:11:05 PM

I dont think that DEXs unpopular! I think it will be popular more and more every day! A lot of projects and exchanges selling users data and it is big problem unfortunately

The popular ones are centralized like Binance, Bittrex but there is no single reason to talk about mainstream decentralization. The anonymity offers are not popular for today's needs but it will change in a timely manner. Following the decisions of governments will not let the decentralized markets to spread.

sieemma

sr. member

Activity: 980

Merit: 253

The number reason, I think, is that most dexes are not user friendly.
Secondly, the requirement of one's private keys makes it difficult to trust dexes becuase in case the site is hacked, the attacker gets their private keys and access to their coins which was not even planned to be sold on that exchange.
With centralized exchanges, you only send coins that you want to sell to the exchange which makes it a better option.

JuliaJi

full member

Activity: 896

Merit: 103

I dont think that DEXs unpopular! I think it will be popular more and more every day! A lot of projects and exchanges selling users data and it is big problem unfortunately

Inu.Guren

full member

Activity: 379

Merit: 100

homt.net

Quote from: fosco333 on June 16, 2019, 09:30:17 PM

Maybe because the centralized exchange is faster than decentralized one.
I am using forkdelta as my decentralized exchange, and sometimes the order book can freezing.
For traders, it is good to using centralized exchange to trading quickly. But for the holders who want to sell or buy coin only and not trading, using DEX is good.

the speed for accessing some website are important, but for now many Dex are improve to fix and make their website faster for people.
but actually people needed from Dex is trading volume, when some Dex have big volume, people don't want make their order and pending too long in market like Dex market usually

llecrf

jr. member

Activity: 420

Merit: 1

Many Dex exchanges from each Dapp platform like ethereum and Tron but they only support tokens that are on the Dapp network of each platform, there are already many new ideas about DEX exchanges that support BTC but they still have low trading volumes such as the DX Exchange and DEEX.
Exchange is decentralized faster because all controls are in each user and I think there will be a DEX exchange that supports all Dapp platforms someday.

Backupnime

full member

Activity: 494

Merit: 104

homt.net

Quote from: rosezionjohn on June 14, 2019, 05:37:47 AM

Back when Etherdelta was still the top DEX, many people who tried it find ED as ugly, slow, and complicated. I think many still have that notion even though a lot of the DEX's today have improved in terms of UI and speed.

Etherdelta is not trusted anymore, people are now migrate in Forkdelta, why most people DEX ED/FD because many failed project are tradable here and people just want throw the shittoken and trade them just for pay the fee

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: damberg on June 17, 2019, 04:27:00 AM

The true show time of decentralized exchanges is yet to come. Centralized exchanges serve a bit different purpose than DEXs. I personally have high hopes in IDEX and their dev team.

This seems to be right, decentralized exchanges are yet to offer the functionality of a centralized exchanges and as such people are reluctant to use them, but their time will come and when a DEX finally becomes as good as a centralized exchange you will begin to see a huge amount of traders use them, this is why binance is creating their own DEX they know it is the future and they want to be there to get those profits, this shows their long term thinking and it is one reason of why it is one of the most successful exchanges in the world.

motienvolam

member

Activity: 291

Merit: 20

I love my wife and my little girl

Quote from: weidex on June 18, 2019, 07:38:25 AM

I don't think Binance is launching a real decentralized exchange.

I agreed with you, it is just a way CZ boosted Binance coin and the popularity of Binance in crypto world. If community ask for DEX, Binance can provide it, that is the main purpose of CZ. He want to demonstrate that Binance is very adaptable to hot trends, and demands of crypto community. Indirectly, he also want to spread the strong dedication (with continuous initiatives) to help Binance maintains its first position among crypto exchange. In my opinion, if Vitalik is a pure technical experts, Charlie Lee is a two-faced man, CZ is a very smart, flexible and adaptable CEO.

weidex

jr. member

Activity: 243

Merit: 1

Quote from: Vaskiy on June 18, 2019, 07:26:54 AM

DEX will surely make a big change over the exchange services. As of now it is just the beginning, from my understanding when Binance DEX gets launched we'll see more listings and the same will make traders move towards DEX. When it is DEX we can't question if some security breach takes place as the user himself is responsible for the funds.

I don't think Binance is launching a real decentralized exchange.

max6575

full member

Activity: 1176

Merit: 100

Vave.com

as trader works on decision to release with use of customs with personal strategics, more on reference as releasing parts of possession with the resource to goes as fine with limit on numbers to complete within the range of terms as the entrance on timelines.

Vaskiy

legendary

Activity: 2618

Merit: 1105

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

DEX will surely make a big change over the exchange services. As of now it is just the beginning, from my understanding when Binance DEX gets launched we'll see more listings and the same will make traders move towards DEX. When it is DEX we can't question if some security breach takes place as the user himself is responsible for the funds.

weidex

jr. member

Activity: 243

Merit: 1

Quote from: omone1 on June 17, 2019, 03:25:56 PM

I now majorly use decentralized exchange but I hate Forkdelta, as executed orders are not immediately cleared like a centralized exchange and Idex, thereby giving false hope. I love decentralized, I control my key and no one tells me when to withdraw my money.

You can check out our DEX - weiDex Exchange

)

sana54210

legendary

Activity: 3178

Merit: 1128

Quote from: ?? on ??

Because Centralized Exchange is more easy to use than decentralized exchange,IMO.
Then, centralized exchange is more trusted for trading.

If centralized exchange was the best, why is Binance still coming up with their own DEX exchange, that is if it will really be proven to be DEX exchange because I do not trust any platform coming from the know people to be fully a decentralize one as they claim.Anything that relies on third party control cannot be fully relied on, though people will have someone to hold responsible in the case where something goes wrong.

Centralized exchanges has so many problems that only DEX will appear to solve it, and one of the greatest advantage of DEX is that it is much more safe from hacking, which is the main edge it has over centralized ones.

Zidan Bst

full member

Activity: 434

Merit: 100

Quote from: bittick on June 17, 2019, 12:07:53 PM

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.

omone1

member

Activity: 843

Merit: 52

I now majorly use decentralized exchange but I hate Forkdelta, as executed orders are not immediately cleared like cleared like centralized exchange and Idex, thereby giving a false hope. I love decentralized, I control my key and no one tells me when to withdraw my money.

Topic: Why DEX (Decentralized Exchange) still unpopular? - page 2. (Read 1364 times)