Topic: Why DEX (Decentralized Exchange) still unpopular? - page 8. (Read 1365 times)
A person's habits when he is comfortable in one place so he will continue to be in that place until there are some problems come and finally he hates the place. As well as with an exchange, the decentralized exchange has not been crowded by several users because I think this is a new platform, there are still many people who don't know this place of trading. In addition about promotional issues, the centralized exchange will try to provide several benefits features for its users and this has not happened in a decentralized exchange, but this will not last long, soon the decentralized exchange will be crowded by many users.
i was expecting the DEX of binance will be different and will attract more users to trade there but was disappointed after all the news. binance team is considerably good at what they are doing, things may chance one day. binance sort of claiming the rightful authority in crypto, they didn't said that themselves but people believe them whenever they do something like the delisting of the BSV
dex may be used pone day when finally people realizes that the safety of their coins matters the most.
that is right, i think like that too because we can take a huge progit we forget about safe.
you know almost all people in trader think high risk = high profit.
so how if your not get a profit, i am always be a trade safer that mean i just look listed coin and aproved exchange.
i am not really like daily trader.
you know almost all people in trader think high risk = high profit.
so how if your not get a profit, i am always be a trade safer that mean i just look listed coin and aproved exchange.
i am not really like daily trader.
I think people are comfortable with centralized exchange. People tends to stay where they feel comfortable. Besides if something went wrong, people have some support to help them in centralized exchange, and people tends to choose the situation where they can find someone to share responsibility regarding their assets.
The people in the market of cryptocurrencies are not afraid at all to try new technologies, so I do not really think that being comfortable with centralized exchanges is the problem, the problem is that decentralized exchanges are still not as good as we want them and so only those that are completely determined to not use centralized exchanges are using them, which is somewhat similar to what happened at the beginning when bitcoin was created in which only those that really believed in the technology were holding it.
I think that despite all the advantages people will still prefer CEX because we all are used to live in banking system era, we all want to solve our problems through support and always looking for something big where we are able to store our money.
DEXes are underground things for Bounty hunters or speculators.
DEXes are underground things for Bounty hunters or speculators.
DEXs are going to be very popular in the future, because people are sick of news about another exchange hack. The main reason is that there are not so much trading pairs and a DEX are selling only one type of tokens, ERC-20, EOS or NEP-5.
People used to use centralized exchange and that's why many are still using it. When we use an exchange it's likely that we don't want to jump into another exchange because we are satisfied with them. I see that many are also using DEXs and even I, I have used it before but I still prefer to get into centralized ones.
Because crypto is relatively a new concept and spent time learning exchanges, now it comes a new one more complicated and it just need time to adapt.
Look for example a Switch.ag and their Dex version Switchdex.ag the non dex version still gets more volume than the dex but the dex is growing over time so its just a matter of time id say
Look for example a Switch.ag and their Dex version Switchdex.ag the non dex version still gets more volume than the dex but the dex is growing over time so its just a matter of time id say
DEX has low liquidity when compared to what we have on CEX. Again using Dex is quite difficult for beginners where CEX is easier to use and understand by any new user. If Dex can improve on their liquidity and add Btc pairs with USDT pairs, people will stasrt trooping there as well.
I think people are comfortable with centralized exchange. People tends to stay where they feel comfortable. Besides if something went wrong, people have some support to help them in centralized exchange, and people tends to choose the situation where they can find someone to share responsibility regarding their assets.
yes that point is right.
for now trader still user centralized exchange because profit and trade volume is big in there but they forget if centralized exchange is have less security system.
Binance DEX is have a low volume because that exchange is still young.
for now trader still user centralized exchange because profit and trade volume is big in there but they forget if centralized exchange is have less security system.
Binance DEX is have a low volume because that exchange is still young.
Because most of them caters only to erc20 tokens and most of the token that are being sold on dex are worth close to nothing.
This is one issue, most erc20 tokens are not worth anything and I do not plan to hold any of them anytime soon, but another huge issue is the volume of decentralized exchanges, in centralized exchanges you can trade almost any amount without any trouble but in a decentralized exchange if you plan to sell an amount as low as a few hundreds of dollars you could find that there is no liquidity at all, however I really believe this could change in the future with atomic swaps but it will take time until people become comfortable usign this new technology.
you right, centralized exchange have a good feature and that's why DEX exchange not have good enthusiast like Centralized Exchange.
Binance DEX just have a pair with BNB because this exchange is still young.
it is need more more time to grow to be a big campain like Binance.
i believe this Binance Dex will have good potential in the future.
Binance DEX just have a pair with BNB because this exchange is still young.
it is need more more time to grow to be a big campain like Binance.
i believe this Binance Dex will have good potential in the future.
Centralised exchanges where first created a long while before the creation of decentralized exchanges. People have already gotten used to centralised exchanges. Nevertheless this isn't the only reason to use centralized exchanges instead of decentralised exchanges. I think some of other reasons might be.
- Decentralized exchanges are more difficult to use than centralized exchanges.
- You can easily loose your funds on decentralized exchanges.
- Centralised exchanges are more automated than decentralized exchanges.
- Bot trading is better to be used on centralised exchanges than decentralized exchanges.
- Decentralized exchanges are more difficult to use than centralized exchanges.
- You can easily loose your funds on decentralized exchanges.
- Centralised exchanges are more automated than decentralized exchanges.
- Bot trading is better to be used on centralised exchanges than decentralized exchanges.
It won't be long we will be using DEX though. There are DEX projects that are certainly going to be on the mainstream when they can add coins of different blockchain like DASH, LTC, EOS, ETH, TRX and all others. With that, its not just the ERC or the TRX tokens are gong to be added. Somehow dex are safer than centralized exchange because users doesn't have to create accounts.
Personally, l'm no fan of decentralised exchanges at all. So many issues with many of them actually.. Ranging from slowness in operations, issues of price almost dragging into halves of the original worth cos many users have tagged them to be dumping grounds amidst many other.
The fact is that the first main reason for not popularity of decentralized exchanges is their safety, that many traders simply do not trust such exchanges, there are also problems with trading volumes and this is also an important issue.
But there is such a thing as a truly decentralized exchange, it is called Block DX (https://blocknet.co/block-dx/).
So I just went on that page, as far as I understand, this is a quite old project that has many codebases from other projects. https://docs.blocknet.co/project/introduction/#codebase-historyAt a glance, it looks like BitShares. It would be difficult for Blocknet to compete in this DEX "industry," considering so many similar blockchain projects currently being developed to tackle this problem.
By the way, just like others have mentioned, DEX currently cannot be used as high-frequency trading (HFT) platform.
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)
I think most of people dont use them because there are actually no good dex, just look at delta or Idex, they are slow and non-userfriendly at all, people are scary of those things. DEX idea is cool actually, we need a good sponsored DEX, with good investitions to make really good and comfortable for using product. Binance has a great experience of making centralized exchange, maybe CZ create a good DEX, will see!
By now, decentralized exchanges contain more potential risks than centralized exchanges. Users of decentralized exchanges have to secure their private keys of their accounts very carefully. They need to have enough knowledge and skills to do this, and when they lose their private keys, there is no way to get them back with decentralized exchanges. That is contrasting with centralized exchanges, where users can send support tickets with bunches of proofs, like emails, past trading history, current balance of their account, and so on to get their accounts back. Maybe in the future, when decentralized exchanges become more matured, people might use them more and such DEX might dominate centralized exchanges.
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