Only people who doesn't bother about quick price changes are using decentralized exchange because the liquidity is very low compared to any centralized exchanges so one who wants to make money from the small price movements will always go with an exchange where there is enough trading orders available.
But someday this will change when people lost turst on centralized exchange,until keep using DEX and get familiar with the UI.
Topic: Why not decentralized exchange..? - page 5. (Read 1592 times)
There are some decentralized exchanges in the markets but why we do not use them maximum times is because of the low volume and low liquidity rate. We traders always want quick trades which can only be fulfilled with high liquidity exchanges which are mostly been provided by the centralized exchanges.
Most of the decentralized exchanges have minimum amount of traders which would never keep the order books filled. I would love to use a decentralized exchange if it fulfills my requirements but until now I have seen none of such exchange. We also need security about holding our funds and centralized exchanges gives us that security.
Most of the decentralized exchanges have minimum amount of traders which would never keep the order books filled. I would love to use a decentralized exchange if it fulfills my requirements but until now I have seen none of such exchange. We also need security about holding our funds and centralized exchanges gives us that security.
I think the only reason not to have a decentralized exchange is that it would not be under the control of anyone in exchange Not everyone can act like this. If it goes completely under the control of the government, a centralized exchange is much better and easier than decentralized exchange Concentration exchanges will gain a lot of popularity as they try to stop it through various hype.
I think the only reason not to have a decentralized exchange is that it would not be under the control of anyone in exchange Not everyone can act like this. If it goes completely under the control of the government, a centralized exchange is much better and easier than decentralized exchange Concentration exchanges will gain a lot of popularity as they try to stop it through various hype.
There are some countries who have started showing a significant growth towards cryptocurrency trading including Germany, Korea, India, etc and these countries would only permit centralized exchanges to allow their citizens to trade. This might be a reason why most of the people feel reliable with these centralized exchanges. If we spot some of the most reputable exchanges running for long time than we could see that those are centralized exchanges.Decentralized exchanges are usually left on the lowest part of the list because they do posses some of the disadvantages. Exchange is a most important part for our trading career and I think we should never trust any random exchange only because it is decentralized. Instead sticking with centralized exchanges would at least keep our funds in safe hands.
Is there any chance that decentralized exchange will stand up..?
This is the simple answer:decentralized is a little difficult to use, while centralized is easy to use. I think this is the only reason for which there is not much volume.
You know how important the user interface is
It will only be a difficult thing for decentralized exchange if you don't have enough knowledge over the system it has. User interface can be familiarize as long as you're willing to learn without any hassle. That's why you have to see to it that your asset is listed on any of those sites, because if there's no other exchange catering this type of services.
Is there any chance that decentralized exchange will stand up..?
This is the simple answer:decentralized is a little difficult to use, while centralized is easy to use. I think this is the only reason for which there is not much volume.
You know how important the user interface is
The "idea" of decentralized exchanges are actually awesome. If we could have a proper one I am sure it would be amazing but the reality is the simple fact that none that we have is providing that perfect situation for us. If there was a decentralized exchange that has everything a decentralized exchange should have existed I am sure that people would flock to it.
Look at binance for example, they created a "dex" of their own but we all know that it is definitely not a full on dex and that is why people are not using it all that much, it had a huge hype when it started and people realized how centralized it is and stopped it as well. So all we need is one great dex and we will get a huge hype to it as well.
Look at binance for example, they created a "dex" of their own but we all know that it is definitely not a full on dex and that is why people are not using it all that much, it had a huge hype when it started and people realized how centralized it is and stopped it as well. So all we need is one great dex and we will get a huge hype to it as well.
It's really simple, centralized exchange volume is competitive and fun to trade, the UI is easy to understand and the website itself is fast. I think almost all of the traders want to trade at the biggest exchange which they can maximize their scalping and profit. DEX is complicated for begginers and I think for everyone, the volume is low and it's slow, so why pick something like that, if there's a CEX that is faster and have a bigger volume.
I think decentralized exchange has less profit for the developers, so, they don't spend much time to build it like a centralized exchange! You see CEX has a better interface, faster and their customer support is great where in every DEX all of these things are missing. Maybe it is we who can change this scenario. CEX is not safe enough, in every year, many of them face hackings, but DEX has less hack issue. So, if we convert into DEC and start trading there regularly, then I believe DEX will overcome the centralized exchange's value and popularity, which is a need in the crypto market!
I assume tradres are unable to find their favourite pairs on decentralize exchange.
A usual thing to happen and I experience this.And the bad thing about DEX, they could only offer less price compare to CEX and that is also a reason why most traders are ignoring DEX. In fact, the growing number of centralizing exchanges will indicate that they are having more market demand in which traders have found it more trading pairs with huge market volume and giving them a chance to gain high. Living in this situation, it will drag traders to use CEX instead of having DEX.
There is a huge difference between centralized and decentralized exchanges, that's incomparable in my opinion, also it is too safe in order to use the centralized ones , also everything is easy to undertstand and unfortunately the opposite is true for the decentralized, the newbie who does not have a good knowledge for crytpo field will certainly face a lot of problems when he uses these exchanges, every trader is searching for the best easy way to earn money , centralized exchanges are always the best option for that.
Exactly. Centralized exchanges have good UI&UX and they're are very easy to get started. Decentralized exchanges aren't newbie friendly as everything has to be taken care of by the user including security of their digital assets, the markets they're actively trading. One other problem with decentralized exchanges is that they lack volume and volume is one of the decisive for trading the markets. When there's no volume, the markets hardly make moves. That's why most traders opt for centralized exchanges despite the fact that they're are leaving their funds in someone's custody.
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.
What I believed on decentralized exchange, is that they could stand up if there's a strong bonds between coins community and people who supports different contract. My personal experience with one of them like etherdelta was great and I haven't found any problems during that time. What's making it harder now was due to few transactions happening because of low trading volume for each listed crypto, and there's no progress yet on several eth contract tokens.
I don't see it to be an easy-going fight here because centralized exchanges have already taken over and majority of the bigger share of investors are allocated in centralized exchanges only because Dex lack a lot of features - attraction, looks, speed, no apps, volumes, volatility, less buyers, less users due to no knowledge or understanding of how to use, UI not so friendly, etc. There's a lot to be added to Dex, while we are talking about fiat, let me remind you of a Dex that allowed fiat too but didn't work as expected (I mean it didn't got users attracted to use it and even I was highly optimistic about it but it didn't work) - I'm talking about WavesDex if you remember, it had EUR, USD, RUR (and maybe more fiat currencies available but I'm known to these 3 only).
Yes, your orders will be freaking stuck for a long time.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
You are 100% right about it. After i created an account in Binance DEX, i try to trade with some popular token like $ONE, $VRAB etc. But it's take so much time for one trade there. And of course lack of volume and trader was the main reason. That's why immediately i transfer my token to Binance CEX exchange. When i stared trade with $ONE there was only two exchange and that was Binance DEX and Binance CEX. That time this token have 1.2$M market cap (24th) and now it's 0$ (in DEX). So you can see why people choose CEX over DEX.
Yes, your orders will be freaking stuck for a long time.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
You are 100% right about it. After i created an account in Binance DEX, i try to trade with some popular token like $ONE, $VRAB etc. But it's take so much time for one trade there. And of course lack of volume and trader was the main reason. That's why immediately i transfer my token to Binance CEX exchange. When i stared trade with $ONE there was only two exchange and that was Binance DEX and Binance CEX. That time this token have 1.2$M market cap (24th) and now it's 0$ (in DEX). So you can see why people choose CEX over DEX.
There is a huge difference between centralized and decentralized exchanges, that's incomparable in my opinion, also it is too safe in order to use the centralized ones , also everything is easy to undertstand and unfortunately the opposite is true for the decentralized, the newbie who does not have a good knowledge for crytpo field will certainly face a lot of problems when he uses these exchanges, every trader is searching for the best easy way to earn money , centralized exchanges are always the best option for that.
I read most of your post and here some points that maximum person think those are the main reasons for decentralized exchange failed to stand up every time.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
Low Volume is more is probably the biggest. I'm willing to use different DEX as I do from TRXmarket to NEWdex to etherdelta, its just that even if you combined all the volme is not enough to match one centralize exchange. There seem to have more users today with blocknet which I think this might just be the first that many will be using. Been using waves DEX since 2017 but gradually stopped too but will probably do with blocknet serious volume will be accumulated.
Yes, your orders will be freaking stuck for a long time.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
problem of yours- the lesser the volume/activity the longer the wait for you orders to be filled which do really sucks. On centralized exchange its still the same but it isnt
really that an issue yet you can see the activeness or the numbers of traders which are trading on a particular coins youve been trading so it isnt a problem.
Next is UI, it isnt really that friendly if i were to say.
Probably the rate of collapse of decentralized exchanges higher than centralized exchanges. If you notice, even centralized exchanges are getting hacked or exiting by scamming traders money. So, failure of exchanges are happening everywhere not because of decentralized.
Comparatively, the centralized exchanges are new to our crypto community and we are not getting big business people to serve us in the form of decentralized exchanges and this could be the reason why we are having frequent failure of the decentralized exchanges. As far as I am concerned, after the big success of ethereum and its smart contract features, we started to be having decentralized exchanges.
So, we do not need to worry about frequent failures of decentralized exchanges because it will take time for building some highly reputed decentralized exchanges to serve us for long periods like how coinbase is is doing for years and another good example is bittrex.
Comparatively, the centralized exchanges are new to our crypto community and we are not getting big business people to serve us in the form of decentralized exchanges and this could be the reason why we are having frequent failure of the decentralized exchanges. As far as I am concerned, after the big success of ethereum and its smart contract features, we started to be having decentralized exchanges.
So, we do not need to worry about frequent failures of decentralized exchanges because it will take time for building some highly reputed decentralized exchanges to serve us for long periods like how coinbase is is doing for years and another good example is bittrex.
I think it is about control in my view. Many investors don't like to be so isolated from their investment that they won't have some control. Centralized exchanges also have achieved volume because of the investors already there so they keep growing.
Because that's the only way the governmeny benefits our cryptocurrency. They can't get taxes from that that's why they are making fees higher in the exchange during transactions and we have nothing to do about it. Centralized exchanges are the only way they think of because they know that cryptocurrency will really improve the economy of a country. Most especially those bitcoin users, the fees are high so they tend to just store it and use it for a larger transactions. Decentralized exchange is someway possible because there are countries that really adopted cryptocurrency. There's something wrong with the government who really want to focus the benefits of crypto to them, still people are unable to utilize or manipulate cryptocurrency freely.
It is more reliable to use DEX but the problem is that the volume is low compared to Centralized Exchange. It think the government just abused the Exchanges so that the economy have something to bring. Even the government wants to implement cryptocurrency but they are not promoting it so it is nonsense. If they really want to benefit the crypto they should help us promoting it in the exchange let there be a decentralized exchange also for those who needs privacy in investing money.
I read most of your post and here some points that maximum person think those are the main reasons for decentralized exchange failed to stand up every time.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
Low Volume is more is probably the biggest. I'm willing to use different DEX as I do from TRXmarket to NEWdex to etherdelta, its just that even if you combined all the volme is not enough to match one centralize exchange. There seem to have more users today with blocknet which I think this might just be the first that many will be using. Been using waves DEX since 2017 but gradually stopped too but will probably do with blocknet serious volume will be accumulated.
Yes, your orders will be freaking stuck for a long time.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
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