Decentralized exchange works as a escrow on peer to peer trade. So inspite of double conversion, it would better let users put any pair on exchange and do it when matched. For fees, users should have a exchange specific token on their wallet which would be deducted on matching.
Currenty the Decentralized exchanges are doing multiple conversion to make a simple trade happen.
Topic: Why DEX (Decentralized Exchange) still unpopular? - page 7. (Read 1364 times)
DEX hasn't worked out many of the problems. They are still in developing phase. You can use them as a trail but they can't be a tool for regular traders. Not at least at current times.
They can't have another pair as they only work with the base currency whose wallet the user are opening. So we'd need a cross blockchain automated wallet to have multiple pairs on single dex.
They can't have another pair as they only work with the base currency whose wallet the user are opening. So we'd need a cross blockchain automated wallet to have multiple pairs on single dex.
There are many things that makes it difficult for people to switch to DEX.
People are used to Regular exchange and it's interface. DEX have a learning curve. The operation is slow. The fees are higher. There are several steps to convert from one coin to another as DEX mostly are based on a single currency. And with a lot of phising sites in action, DEX are more unsecure than Central exchanges.
DEX mostly needs a computer while people also do trade with smarthphones.
People are used to Regular exchange and it's interface. DEX have a learning curve. The operation is slow. The fees are higher. There are several steps to convert from one coin to another as DEX mostly are based on a single currency. And with a lot of phising sites in action, DEX are more unsecure than Central exchanges.
DEX mostly needs a computer while people also do trade with smarthphones.
DEX are for people who dont want to give security info. Yes it is not yet popular but it is quite convenient when you need yo trade without any hassle. BinanceDEX is also great but hopefully they can add some other common or stablecoin. Not just BNB, I know they are the host but they should not monopolize the BNB coin. Anyway, more power for decentralization. I support DEX.
stablecoin is the only they need. binance may really be able to do that. there are coins are starting to migrate into the binance chain because of this. i'm just not sure if BNB token is also in the dex, this might change soon there are dex that i have been waiting for its development like the weidex (for erc token) they do have a token there which is for the trading fees as well.
I think because DEX exchange is usually for ERC20 tokens support not all coins are available there and DEX exchange also low support team to assist your problem, not like a centralized one. For me, I don't care if it is DEX or centralized exchange as long as I can trust the site and have positive feedback to their customer not having a bunch of complaints.
Yes right, as far as I know DEX is an exchange that is specifically for the Erc20 Ethereum smart contract for trading before the main Token enters the global market, and so far the DEX exchange site is very safe. I think because DEX exchange is usually for ERC20 tokens
There are so many DEX exchanges, and they do not only provide supports for ERC20 tokens, but also for lots of altcoins, including Proof of Stake / Masternode coins. For example, you can find lots of PoS/MN coins on Crypto Bridge. The main reason why DEXes are not popular by now is fear of security and supports. Crypto investors, especially someone whom don't have enough knowledge and experience tend to stay away from DEX. They don't want to get troubles in case they need exchange's supports. Another reason is by using DEX, users have to secure their private key / seeds themselves. Such DEXes don't support users to get their private keys / seeds back.
I think because DEX exchange is usually for ERC20 tokens support not all coins are available there and DEX exchange also low support team to assist your problem, not like a centralized one. For me, I don't care if it is DEX or centralized exchange as long as I can trust the site and have positive feedback to their customer not having a bunch of complaints.
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)
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)
Some people still find it difficult to risk our own wallet to use on the DEX Exchange, even though some currently use metamask extensions for security and also if you want to sell or buy, the process is more complicated. besides that prices are also far worse than centralized exchange and sometimes have poor support.
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)
This may be caused by the fact that most decentralized exchanges are not attractive. Most of them are not useful. 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)
But, we also have mistakes in this regard. We have all sanctified Binance, and we just worship it.
You said that decentralized exchange give fast response? Have you ever tried it? Decentralized exchanges based on ethereum are killing the network. Website are loading too long. 
For me, the main challenge in using decentralized exchange is low volume, also they are notorious for listing a lot of shitcoins since there are no stiff requirement for listing. Dex does have a lot of advantages but the space need to grow, at the moment it is more of a dumping ground for shitcoins
One of the reason why most people are still using centralized exchanges is because they have user-friendly interface, that is, orders can be executed easily and host of others. Another reason is, they are faster and have high volume when compared with Decentralized exchanges.
But in terms of security, Decentralized exchanges are far better as it follows the true ideology of blockchain. So I think, if there will be Decentralized exchanges with user friendly interface, it will stand a better chance of challenging most centralized exchanges because no matter what, funds security can't be taken for granted.
But in terms of security, Decentralized exchanges are far better as it follows the true ideology of blockchain. So I think, if there will be Decentralized exchanges with user friendly interface, it will stand a better chance of challenging most centralized exchanges because no matter what, funds security can't be taken for granted.
this is due to the demand of the exchange! lets not be blind of what we are having. iti is still on what we can hve...
i have been there done that and waves token willl be there so lets not expect for a while
i have been there done that and waves token willl be there so lets not expect for a while
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)
well you can only trade in dex using there token like ETH for eth tokenWhy 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)
some trader is using bitcoin and other coin to trade and there are not much trade order to trade with
also dex is so slow and laggy but if there will be some advanced dex to be lauched someday maybe it can become popular.
Most obvious reasons include complexity, user unfriendly interface, slow transactions, overall sluggish exchange plus poor compliance are some of the things that keep most of the people away from dexes but im sure some advanced dexes will be launched soon to cover this gap and in efficiencies.
The real decentralized exchanges that i know, are all for trading eth and its tokens only.
Are there any other dex exchanges where you can trade bitcoin and other cryptocurrencies with their own blockchains? If they exist could someone post them?
I would like to give a try.
Dex requiring advance knowladge about coin mechanism, i think people just too scare to deal with dex because it need access to wallet key
DEX is just beginning to gain popularity. The project still needs a lot of time to gather its audience. In general, this exchange will be successful and will soon become popular. So I like this project.
my thoughts so too. Binance chain i think will be their biggest weapon to make their DEX fully working with huge volume everyday. more tokens will move to Binance chain if they eventually add those tokens for free. just think about how many coins today that isn't listed on any market. but if these tokens start moving out from ether network or EOS to BNB chain, they'd be automatically be on exchange and all they do is just redistribute/swap coins to holders.
DEX is just beginning to gain popularity. The project still needs a lot of time to gather its audience. In general, this exchange will be successful and will soon become popular. So I like this project.
I still don't think I will ever like any dex exchanges since they always ruin values of tokens and one more thing ,its a home for erc20 tokens only ,I don't know why though ,I haven't seen a single one with better volume
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