I don't know which one is more secure between centralized and decentralized exchange.
Because it is the point that should be considered by many user. I have heard some information about an centralized exchange has returned the money for those user who have stolen because the exchange has hacked.
Which is mean, there will be many users who will be more interested to use centralized exchange instead of decentralized exchange. And as far as I know they just a few decentralized exchange and it is volume is far from centralized exchsnge.
Topic: Why not decentralized exchange..? - page 7. (Read 1590 times)
But my question is then why we don't accept properly decentralized exchange..?
The main problem is with trust. You will trust an exchange who is transparent and even if they force KYC on you, but they are operating from your country, at least you have a legal position on them to sue in case they ever turn to scam. But then what about those DEXs that scammed? Did they ever end up paying the money they owed to their users?Of course people should not store coins on exchanges for long duration, still a part of the fault lies on the exchange owners. The exchange was made to faciliate trading and the people who go scammed on that exit - possibly the "zeroday" ones are the worst to suffer.
Now we have seen prosecutions on CEX owners but maybe not everyone of them will become like Mtgox still, they are trusted by traditionally most people than DEXs.
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.
People accept decentralized exchange, and we can see that some decentralized exchange have trade volume although if we compare with the centralized exchange, the volume is not too big. But I think people still like to trade in the centralized exchange because the list of the coins is big, and they can trade with many options. But I think the decentralized exchange can stand up and grow if they can give better services like what people get in the centralized exchange.
I didn't really have the experience of having trouble using the truly decentralized exchange but I don't know why I keep coming back into my favorite exchange. Good experience with it maybe?
You didn't have any trouble with using truly decentralized exchanges because, well, simply because truly decentralized exchanges doesn't really exist as of yet.
But what is the problem that every time decentralized exchange failed to stand up..?
Decentralized exchanges have always been lacking essential requirement which are good volumes and great pairs. Dex lack volume. That's a big problem. Even big dex like that of Binance get less than $10M of daily trading volume. Even small centralized exchanges hit such volumes easily. Some people may ask, why are volumes important? Volumes determine the strength of a market. To understand better, small volumes == weak market. High volume == strong market.
Even trends needs volume to keep moving in that direction. And that's something that Decentralized exchanges do not have. I'm not even mentioning the fact tgat some decentralized exchanges have been asking for KYC details.
I guess is because there is no such thing as decentralize exchange at all. Many will claim but you'd come to realized it when there is actually the need for admin even with forkdelta or the blocknet which many believe to be the best DEX. I think Defi will help the dex improve its volume though.
What is more decentralize is when we exchange coins here in the forum particularly in this section.
I am assuming the volume, whenever this topic comes up I always say the same thing, it is the volume. Sure the quality of the decentralized exchanges play a big role as well and that is one of the leading reasons why it also doesn't have a good volume too so pick which one you want.
People do not go to decentralized exchanges because they have lesser quality than the centralized exchanges they are already using, convincing people to move from the place they have been using and move into the place that they are not using is a very hard task already, convincing them to go to a place with low volume and bad UI and so forth is even harder. Which in return comes back as low volume and that alone also makes people stay away from the exchange without any other reason required.
People do not go to decentralized exchanges because they have lesser quality than the centralized exchanges they are already using, convincing people to move from the place they have been using and move into the place that they are not using is a very hard task already, convincing them to go to a place with low volume and bad UI and so forth is even harder. Which in return comes back as low volume and that alone also makes people stay away from the exchange without any other reason required.
A large number of pairs coins to trade in centralized exchanges will remain traders choosing on it. Decentralized is not easy for the newbie so it is not advisable for them because they might get an error when executing in trading. Another reason is those centralized exchanges are also has a large number of volume per coin and easy to trade.
You can read more details here, https://bitcointalksearch.org/topic/list-of-decentralizedcentralized-exchanges-2906237.
You can read more details here, https://bitcointalksearch.org/topic/list-of-decentralizedcentralized-exchanges-2906237.
These exchanges aren't really "decentralized" regardless if they call themselves one. The fact that a company runs the servers and the exchange in general makes it automatically not decentralized. They're non-custodial at best.
As for the non-custodial exchanges a.k.a. "DEXs", custodial exchanges are still far better and easier to use than these "DEXs" hence why usage is still really low.
Right and we are attached to using the self-called decentralized exchange because of the good service they make, In my experience, between a truly decentralized exchange and centralized exchange that we are familiar with and have comfort using it, I have really just use the centralized exchange. I have a good experience in it and got no problem with years of trading. As for the non-custodial exchanges a.k.a. "DEXs", custodial exchanges are still far better and easier to use than these "DEXs" hence why usage is still really low.
I didn't really have the experience of having trouble using the truly decentralized exchange but I don't know why I keep coming back into my favorite exchange. Good experience with it maybe?
These exchanges aren't really "decentralized" regardless if they call themselves one. The fact that a company runs the servers and the exchange in general makes it automatically not decentralized. They're non-custodial at best.
As for the non-custodial exchanges a.k.a. "DEXs", custodial exchanges are still far better and easier to use than these "DEXs" hence why usage is still really low.
As for the non-custodial exchanges a.k.a. "DEXs", custodial exchanges are still far better and easier to use than these "DEXs" hence why usage is still really low.
Listing, volume and a lot more is needed to be considered here.
The problem before was volume actually. Let us use etherdelta as one example.
Volume of buyers before are really weak and how could you trade with that?
The only pairing I see is any ERC20 token against ETH.
So if no one with buy using Ethereum then what will happen? With that people will tend to look for something better.
An exchange where their ERC20 token could be paired even with Bitcoin or USDT.
That's what happened.
The problem before was volume actually. Let us use etherdelta as one example.
Volume of buyers before are really weak and how could you trade with that?
The only pairing I see is any ERC20 token against ETH.
So if no one with buy using Ethereum then what will happen? With that people will tend to look for something better.
An exchange where their ERC20 token could be paired even with Bitcoin or USDT.
That's what happened.
Why not DEX? Inconvenient for most users and don't have enough volume for active traders.
I was once a newbie but I took the time to learn how to trade on ED, FD, IDEX, and BDEX that's why I never lost funds.
maximum decentralized exchanger is difficult to understand for newbie.in my personal opinion Decentralized exchanger take time to load, user interface and take and it's not easy to make a trade for newbie.if newbie don't know how to use decentralized exchanger then they have risk to loss his money,First time I alost few bucks in etherdelta and few days ago I saw a comment where one trader telling that he lost his money in binance dex.though this is not exchanger fault,That was my fault.
It's not the decentralized exchanges' fault if users do not learn how to use the exchange first before trading there. DEXs maybe slower to load and have less appealing UI but if that's the price to pay to keep your privacy and anonymity, then it should be worth it to use. The problem with people having issues with using DEX other than volume is that they simply want convenience that CEXs brings. They become impatient to understand how a DEX works. I was once a newbie but I took the time to learn how to trade on ED, FD, IDEX, and BDEX that's why I never lost funds.
IIRC, CZ once said that Decentralized Exchange is the future, but look at their DEX, it's not competitive with the Centralized exchange and they can't even provide a real DEX since Binance DEX is not a real Decentralized exchange.
As of now, I can only say that people trust more the centralized exchanges than DEXs.
As of now, I can only say that people trust more the centralized exchanges than DEXs.
A lot of people will be favoring it but there is a problem.
Despite the demand for them wanting a decentralized exchange, investors and traders still go to popular exchanges because of the fact that a lot of cryptocurrencies can be traded their and be sold quickly. You can't just go to an exchange that still did not build up popularity for that site, and you never know how long will be your sell queued up in there.
Despite the demand for them wanting a decentralized exchange, investors and traders still go to popular exchanges because of the fact that a lot of cryptocurrencies can be traded their and be sold quickly. You can't just go to an exchange that still did not build up popularity for that site, and you never know how long will be your sell queued up in there.
Both decentralized and centralized exchange have their own advantages.
But I really like the decentralized platform since it doesn't need any personal informations to completely use their platform and it doesn't have any limits.
But I really like the decentralized platform since it doesn't need any personal informations to completely use their platform and it doesn't have any limits.
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.
I feel that the speed of transactions is sometimes the reason I rarely use DEX, some of the DEX I use are not mobile friendly which sometimes I still need to monitor orders via mobile phone when I cannot access via PC or laptop.
With many improvement DEX will soon be the first choice or at least be on par with CEX.
With many improvement DEX will soon be the first choice or at least be on par with CEX.
I assume tradres are unable to find their favourite pairs on decentralize exchange. There is some advantage and disadvantages. Like some are not mobile friendly, everyone isn't full time traders so they can't use PC always. Also some people like to trade via apps. Like Binance centralized exchange, their exchange is mobile friendly and have apps. That's why it's quite easy to use and its understandable for everyone. Also not too much volume on decentralize exchange. You need to wait with patience for buy/sell. I think that's why decentralized exchanges can't stand till now. Hope something will happen future with decentralize exchange. Perhaps they should develop with advance features.
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.
Also, people different taste. Even though we all know that using decentralized exchange is much better, but for them is that is still sucks, like they have something in centralized exchange that decentralized exchange don't have.
Especially those non-techy or people just want to trade at all and earn some money or stack some satoshis.
Especially those non-techy or people just want to trade at all and earn some money or stack some satoshis.
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