Why DEX (Decentralized Exchange) still unpopular? - page 5.

Kaneki11

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Activity: 209

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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)

Decentralization exchanges are a bit complicated.. difficult to understand.. a minor mistake might make you loose all of your funds.. and decentralized exchanges are also vulnerable to hackers

Inu.Guren

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Activity: 379

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homt.net

Quote from: Buntel168 on June 14, 2019, 12:15:51 PM

DEX is very simple but its to low volume, I use more centralized exchange likes Binance and OKEX. I think DEX is only the last choice to sell tokens, but to buy tokens at low prices DEX is reliable.

this is the reason why people not interest to trade in DEX than Centralized exchanger, because trade volume is one important factor that can make trading ecosystem running normally like Centralized exchange, people don't want to wait their order too long

Whaletale

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CurioInvest [IEO Live]

Dex is popular but I see the UI to be most of the challenges people are facing to easily trade on but and its also stick to the blockchain coin which many find difficult to swap when the alts are all in dump mode and why people prefer the centralized exchange which can easily be swap with btc or usdt for save mode .

slashz9

full member

Activity: 1554

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yeah im still wonder because blockchain create to make all decentralized.
but in fact is different, and the reason centralized is more better then decen, we can see if some coin already finish ico and the price in decentralized market like forkdelta is crazy, for example you buy coin with 1$ and then someone put the price in order buy with 0,0001$ Grin

Lagonda

member

Activity: 93

Merit: 11

DEXes are born after CEXes. When DEXes are completed and matured, CEXes take a majority of market share already. One more reason is that, people are too familiar with centralization and need time to get used to with decentralization. In my opinion, DEXes are the ultimate destinations of crypto. Sooner or later, Binance DEX or IDEX, Fork Delta...will replace Binance, Okex or Kucoin.

Buntel168

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DEX is very simple but its to low volume, I use more centralized exchange likes Binance and OKEX. I think DEX is only the last choice to sell tokens, but to buy tokens at low prices DEX is reliable.

delarossa

member

Activity: 392

Merit: 12

MINTER

One reason from me is the volume trading value is too lower than the centralized exchange. Because centralized exchange has a high liquidity so you can sell your coin and other people will buy your token as soon as possible. but in decentralized exchange will be more secure because the transaction is use the peer to peer modes (P2P).

ven7net

full member

Activity: 1946

Merit: 112

I believe that the majority of traders use centralized platforms because they have large volumes of trades, which of course attracts everyone. On the other hand, you correctly noted that at the same level as this advantage, there are also bad factors, namely, frequent hacks, stranded volumes and the possibility of losing your crypto assets. It also seems strange to me, for the crypto sphere itself is famous for its decentralization and anonymity, as well as security. But we see a completely different picture, which causes a lot of controversy.

Metall303

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Quote from: ali115112 on June 14, 2019, 09:13:40 AM

As you know in previously only idex was good volume and now idex also not have good volume due to little slow trading but Binance DEX can grow in future .

Definitely many dex exchanges will grow many times in the future, but now it’s all just ideas and users are not ready to use such exchanges.

Farul

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Activity: 270

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Shinji bgt gwh

Quote from: jazmuzika217 on June 14, 2019, 09:42:25 AM

You cannot guaranty if Dex ( Decentralized Exchange) is 100% secure compare to centralized exchange site.

Actually, DEX Is More Secure, Since The Source Code is Open Source (This Is Sort Of Double Edged Sword Tho). And The User Funds Are Not Stored By The DEX. Incase Of Robbery, Only Funds That Held By The DEX Will Be Lost, Not Entirely(Unlike Their Centralized Counterpart)

Quote from: MedvedevVasilyS on June 14, 2019, 09:52:06 AM

Has binance dex already become successful? I still do not see a huge number of users who use this decentralized exchange

Isn't Binance Is Fully Transitioning Into DEX (Binance & Binance DEX Is Same)?

MedvedevVasilyS

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Quote from: FUD Expert on June 14, 2019, 09:38:00 AM

Maybe just give it a time guys. Binance can always pull of new strategy to make things work. Nobody even expected the success if IEOs and everyone thought that STOs are going to fill the cryptocurrency craze again but Binance did differently and everybody copied their style. So once the Binance's dex became successful, more and more dex will exist like mushrooms.

Has binance dex already become successful? I still do not see a huge number of users who use this decentralized exchange

jazmuzika217

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Activity: 476

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You cannot guaranty if Dex ( Decentralized Exchange) is 100% secure compare to centralized exchange site. But theres some decentralized exchange site that have a good volume also one reason why its not popular because the altcoin you will trade in that exchange site is based on erc token but this time Binance open a Dex with have some good project listing.

FUD Expert

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Maybe just give it a time guys. Binance can always pull of new strategy to make things work. Nobody even expected the success if IEOs and everyone thought that STOs are going to fill the cryptocurrency craze again but Binance did differently and everybody copied their style. So once the Binance's dex became successful, more and more dex will exist like mushrooms.

ali115112

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Activity: 1806

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As you know in previously only idex was good volume and now idex also not have good volume due to little slow trading but Binance DEX can grow in future .

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

The main reason is we don't really know how the dex exchanges can be fully secure, I mean we know they claim it to be but we are not educated on the subject.

I mean I can create and exchange tomorrow and claim that my exchange is the best at both security and fast or I can say cheapest and whatever but without a proof nobody will believe me which is why I honestly think that dex exchanges have a superiority in something over non-dex exchanges but people are not educated about it enough, if they provide some proof and they do marketing on the basis of that truth then they could get a lot more famous.

Marketing is something dex places never do, for example casinos that are totally dex never talk about their dex part neither, they talk about how it is possible to make money as the gambler but not the dex part. Basically the simple answer is the lack of marketing in those exchanges.

joromz1226

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Activity: 798

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As I observed in the market, most of the top exchange are centralized based system, like binance, kucoin, Idax, Okex, Houbi and more.

And maybe the reason why DEX was unpopular it is because centralized exchange are much more safer compare to DEX.

unusualfacts30

hero member

Activity: 1540

Merit: 500

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)

Issue is that people are used to old exchanges and speed is slow for dex. Dex exchanges still lack behind in popularity and their media coverage is very little compare to nondex. If a centralized exchange comes with dex, I would highly doubt their legitimacy.

weidex

jr. member

Activity: 243

Merit: 1

We as a decentralized exchange are waiting too for new the update and people to realize that security is above the speed! But yeah, active traders who want to trade digital assets in seconds can't rely on DEXes because we can't give them this speed for now. But with the new update on Ethereum, I think the things will be on whole another level. Another fact is the DEX community is much lower than before and also crypto market cap is much lower than in 2017 and 2018 and there are not many traders as before.

ridha inoue

full member

Activity: 504

Merit: 100

that is right DEX exchange is always under point and decentralized exchange is always use to trade.
we can look the biggest exchange cryptocurrency like Binance, Houbi and other big exchange is Decentralized exchange with high volume trading everyday for almost all coin in there.
so, how about Binance DEX. i think Binance DEX is same like DEX exchange other not have a good enthusiast like Binance.

btcyoda

member

Activity: 644

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Quote from: ?? on ??

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

Centralised exchanges are more trust for trading but we many countries are supporting for Blockchain technology, each has its own advantages and disadvantages. Still, people who are in crypto are actively trading in decentralised exchanges.

Topic: Why DEX (Decentralized Exchange) still unpopular? - page 5. (Read 1364 times)