Topic: Why not decentralized exchange..? (Read 1590 times)
At least as of today, I do not have a lot of cryptocurrency capital to worry about the possible attention of the regulatory or tax authorities of my state. Based on this, I am afraid of centralized exchanges, because decentralized exchanges, such as uniswap, have very high fees and this is not very suitable for me. But my choice falls only on the most secure and reputable ones such as Binance.
Lots of decentralized exchanges survive, but many individuals also use decentralized exchanges to commit contract address fraud
In my opinion decentralized is one of the great reason that people love or apriciate bitcoin. I know there is many things too but its not about that or bitcoin. I am not too much experience able person in crypto world but with all my little experience i understand that people want a good project which is decentralized. But my question is then why we don't accept properly decentralized exchange..?
There is many point that people should trade in decentralized exchange. But what is the problem that every time decentralized exchange failed to stand up..? Was it us who don't show much interest about it or it's the outhority who didn't provide to us properly..? Is there any chance that decentralized exchange will stand up..?
Please share your thoughts.
There is many point that people should trade in decentralized exchange. But what is the problem that every time decentralized exchange failed to stand up..? Was it us who don't show much interest about it or it's the outhority who didn't provide to us properly..? Is there any chance that decentralized exchange will stand up..?
Please share your thoughts.
Both in the past and in the present, there have been quite a few stolen or scam exchanges. Although I am also a newbie in this area, but the advantage of decentralized exchange is obvious to me. From the user's point of view, the security of my funds is of greatest interest to me. I want to believe that in DEX no one will be able to access to my funds except me.
P.S. I saw an article here Custodial vs. Decentralized Exchanges, perhaps in it you will find answers to your questions.
Decentralized trade have a little volume on the off chance that we contrast and unified trade, additionally not every person need truly deal with their resource possibly somewhat apathetic. Decentralized trade is someway conceivable in light of the fact that there are nations that truly received cryptographic money.
Based on my experience using decentralized exchanges, usually the available pairs are limited. Likewise, the number of tokens available is
still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
i agree that most dexes are harder to understand because i also use alot of dexes before but if i now understand harder dexes completly, others can too . still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
its only a matter of hardwork and not being lazy to learn but i did not know that there are many lacks or lackings that decentralize exchange have aside from its a bit hard to use but thanks for bringing them all up and i thought before that dexes are a home for the tokens and altcoins but is that true that theres so many tokens and alts lack on all dexes ?.
Decentralized exchanges are growing to be more than just exchanges and that is what will make them a lot bigger than any other centralized exchange out there in the world. Right now people can actually deal with pancakeswap type of places and not only they can exchange their money there, they can also make money there as well.
Think about it, on centralized exchange you give your money to someone and they use it to make a lot of money and they just allow you to trade and that's it, on decentralized exchanges you do not give ownership of your money to someone and you just end up using that money to make money from other stuff like staking and all. This is why I think it is obvious that centralized exchanges will take over for sure, it is not going to be very quick and it is not going to be easy but they will definitely become much bigger in the future.
Think about it, on centralized exchange you give your money to someone and they use it to make a lot of money and they just allow you to trade and that's it, on decentralized exchanges you do not give ownership of your money to someone and you just end up using that money to make money from other stuff like staking and all. This is why I think it is obvious that centralized exchanges will take over for sure, it is not going to be very quick and it is not going to be easy but they will definitely become much bigger in the future.
Binance unified trade, their trade is versatile inviting and have applications. That is the reason it's very simple to utilize and its justifiable for everybody. Likewise not all that much volume on decentralize trade. I couldn't want anything more than to utilize a decentralized trade in the event that it satisfies my necessities yet as of recently I have seen none of such trade.
The greater part of the decentralized trades that I've seen throughout the most recent couple of years have incredibly enhanced the UI side of things to the point that they're fairly available for even more current brokers. In the event that they truly need to profit the crypto they should help us advancing it in the trade let there be a decentralized trade likewise for the individuals who needs security in putting away cash.
Most experienced users only uses DEX, too much complexity and most of them aren't newbie-friendly together with few volumes, then the result is obvious.
Even the too hype binance dex isn't used by many. I checked uniswap and so far the volume there is good and well enough to process in minutes or hours, only if it's easy to use, though there are times for learning.
Even the too hype binance dex isn't used by many. I checked uniswap and so far the volume there is good and well enough to process in minutes or hours, only if it's easy to use, though there are times for learning.
Uniswap had so much volume compare to a regular dex, I think its just the start. Eventually more and more people are going to take arms against centralizization and banking system. KYC and privacy will push them to move to dex and swapping platform, time will come.
i think the real successful future for decentralized exchanges in coming now. i also strongly believe in dex, and the reason why they weren't successful is because of unreadiness technical and fintech tools for them. but now i'm looking for nice dex projects and try to get their tokens
this is what i also think about. defi is cool concept and dex projects with good business model likely to be successful... i also look for dex with some options for liquidity providers
I comment based on my experience...
As an active trading person, I don't like decentralized exchanges, the reason I don't have much is all because the features displayed are not as complete as CEX, and also the trading volume is not as big as CEX.
Well, perhaps you mean is decentralized exchange has limited coins to trade not just like CEXs. That is right, the main factor that people choose a centralized exchange because of the liquidity and trading volume, it has wide users that for sure your order will immediately be done in just a couple of minutes or even hours, not like decentralized will perhaps take days. Another is the support, it is easy to rich out the support of the centralized exchange in just a matter of minutes. As an active trading person, I don't like decentralized exchanges, the reason I don't have much is all because the features displayed are not as complete as CEX, and also the trading volume is not as big as CEX.
I comment based on my experience...
As an active trading person, I don't like decentralized exchanges, the reason I don't have much is all because the features displayed are not as complete as CEX, and also the trading volume is not as big as CEX.
As an active trading person, I don't like decentralized exchanges, the reason I don't have much is all because the features displayed are not as complete as CEX, and also the trading volume is not as big as CEX.
Based on my experience using decentralized exchanges, usually the available pairs are limited. Likewise, the number of tokens available is
still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
i agree that most dexes are harder to understand because i also use alot of dexes before but if i now understand harder dexes completly, others can too . still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
its only a matter of hardwork and not being lazy to learn but i did not know that there are many lacks or lackings that decentralize exchange have aside from its a bit hard to use but thanks for bringing them all up and i thought before that dexes are a home for the tokens and altcoins but is that true that theres so many tokens and alts lack on all dexes ?.
i think the real successful future for decentralized exchanges in coming now. i also strongly believe in dex, and the reason why they weren't successful is because of unreadiness technical and fintech tools for them. but now i'm looking for nice dex projects and try to get their tokens
Its not that but rather on completely dealing with fiat to crypto or crypto to fiat transactions this is the main reason on why DEX arent really getting that much of traction or interestbut somehow their existence is what we do prefer for but there are really services which people do really still rely into this one thats why dex market isnt really
getting on what we do anticipate on.Just let it be and as long there were users of this marketplaces we could really still have an option on which one
would be used, it will really be according into our needs and preference.
Based on my experience using decentralized exchanges, usually the available pairs are limited. Likewise, the number of tokens available is
still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
still small compared to centralized exchanges. Even the features of decentralized exchanges are incomplete, and the display is less user friendly.
Usually traders want to monitor the movement of tokens they have at any time, unfortunately the decentralized exchanges don't have a mobile app
yet. Then the most important thing is that decentralized exchanges cannot cashout to bank accounts, this is also the reason why I am more
comfortable using centralized exchanges.
i think the real successful future for decentralized exchanges in coming now. i also strongly believe in dex, and the reason why they weren't successful is because of unreadiness technical and fintech tools for them. but now i'm looking for nice dex projects and try to get their tokens
for some recovery but i do still remember on what happened on Quadriga too thats why theres always a risk involved into this kind of situation.
What happened with QuadriCEX is one of a kind. I am sure that a similar method was being followed in other exchanges too but after that incident they probably changed their systems.Quote
The difference about DEX nowadays is really basing on up liquidity/volume.They are really on that big gap between Cex ones this is why people do really choose up because they can able to deal with Fiat transactions neither inbound or outbound.
Both Liquidity and trust are important IMO. Its more a speculation at this stage because we have not see any more development of a new kind in the exchanges sector but we have seen what people use mostly and that is CEXes that their currency supports.Quote
We love decentralization but on for this matter then its really hard to resist on what Centralized exchanged do give out.
For exchanging, truly decentralization is probably a myth.
I think this may cause a lot of trouble if the exchange must be decentralized because there are a lot of things may happen let us take a look
Front end
If there are some bugs may happen on the front end like the inappropriate labels and text on the field it may cause a lot of trouble to the users and mistakes on the program
Back end
If the database is decentralized no one will manage to fix the bugs happens on the control panels and most of the function may cause a lot of bugs, errors, and server time error on the system which is not good if you are a user wants to make a transaction or pulling out your money on it
Those are the commons you can face if there is no someone maintain the information, data, UX / UI and other functions of the exchanges.
Front end
If there are some bugs may happen on the front end like the inappropriate labels and text on the field it may cause a lot of trouble to the users and mistakes on the program
Back end
If the database is decentralized no one will manage to fix the bugs happens on the control panels and most of the function may cause a lot of bugs, errors, and server time error on the system which is not good if you are a user wants to make a transaction or pulling out your money on it
Those are the commons you can face if there is no someone maintain the information, data, UX / UI and other functions of the exchanges.
What exactly is really 'decentral' ? What hype is run with that ...
My own definition of decentralized exchange is that any coin be present in the exchange and traders does not need to comply with KYC requirement, so we can trade anonymous unlike in centralized exchange where we are like bank clients. Unfortunately, things has change, with the government regulation, slowly the anonymity idea is not that attractive anymore, so some exchange even if DEX as introduce but not really a DEX in reality, good example is Binance DEX where some countries based on IP address are not allowed to access the site.
If you accept coins from anonymous you ll never can proof real ownership and help more criminals than you might hope it helps anyhow for your own privacy
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