Topic: why there is so much fuss about decentralized exchanges - page 4. (Read 648 times)
It is much harder to hack a decentralised exchange if you compare it to a centralised one. Moreover, you do not need to loose the control over your money, when you transfer a coin to a decentralised exchange.
I dont think that most of the people around the world would thinking if decentralized exchange is the future, since there are so many lacks about it.
What might you think decentralize exchange lack of something? I don't think so, if we are going to see the cryptocurrency space in a holistic point of view, we can assure that, here what ever we want, we can get it, there are different kinds of crypto, either decentralize or not, unlike banks and fiats where, we are limited to choose the best funding and transaction options to consider.
There are many exchanges to buy altcoins. It is always good to buy altcoins at the exchange that gives the best rate.
I found Coinswitch is the best cryptocurrency exchange that gives the best rate for trading. It's an exchange aggregator that supports many leading exchanges. We can compare the prices of coins across different exchanges and execute the order at the best rate.
We can check the Live price of any altcoins and the real-time price chart, which helps us to keep updated about the price of cryptocurrency. you must pick the most trusted one, for you to assured your funds are safe and not easily get hacked.
I found Coinswitch is the best cryptocurrency exchange that gives the best rate for trading. It's an exchange aggregator that supports many leading exchanges. We can compare the prices of coins across different exchanges and execute the order at the best rate.
We can check the Live price of any altcoins and the real-time price chart, which helps us to keep updated about the price of cryptocurrency. you must pick the most trusted one, for you to assured your funds are safe and not easily get hacked.
No exchange is totally secure. Both Centralized and Decentralized exchanges are subject to hacking as we can see in the case of Etherdelta and some other decentralized exchange. Being Decentralized means there is absolutely no central authority controlling individual accounts. However, this has both pros and cons. A lot of people think the exchange platform should be decentralized just because bitcoin that happen to be the first crypto is designed within a contest that promotes decentralization. I see no reason why any exchange platforms should be more decentralized because 99% of already existing ones are full of shit
Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked 
The meaning of decentralized exchanges is only one-they are not controlled by one firm.This is exactly what is needed for cryptocurrency.By and large, centralized exchanges are ordinary banks,with only one difference that they use cryptocurrencies instead of fiat money. now decentralized exchanges are at the experimental stage and they constantly transform their code and become better, so that in the future they could not be hacked
If they are in the experimental stage, should we wait until everything is tried and tested or we should completely jump into these DEXs as they seems to be more promising than CEX?
I really like decentralized exchanges because they are not controlled even you can access the decentralized exchange without even transferring the tokens to exchange wallet you can access directly from your wallet also the importance of dex can be understood by studying the top exchange projects and we will come to know that almost all of them are working to develop their dex prime example is Binance which is very close to launch of their own decentralized exchange.
I have the experienced of using Stellar X ( which is DEX) and I am looking forward to seeing the DEX of Binance, Vite and Resistance. It is great to know that exchange projects are shifting towards DEX.
now decentralized exchanges are at the experimental stage and they constantly transform their code and become better, so that in the future they could not be hacked
I dont think that most of the people around the world would thinking if decentralized exchange is the future, since there are so many lacks about it.
That's my point as well. Ethereum's Vitalik, Binance CZ and many other influencers are embracing the decentralized exchanges but we are also hearing the news of security breaches.
That makes sense. Let's see how it all goes.
Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked
Maybe you haven't been around for too long but there have been a lot of exchange "hacking" from day one of bitcoin world, it all started with mt.gox and than moved to crypsty and so forth and now we are here where even the biggest exchange binance is keep getting attacks so its not really that much of an option anymore to have security against these hacks. When you have a decentralized exchange it means there is no self controlling mechanism that could benefit from a "hacking" situation, it could still get hacked literally but we will at least know that owners are not just saying hack and keeping the money, it must be really hacked. So all in all its just another layer of security put on top of all securities we had and that is why people prefer them over others.
Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked
There are no technology platforms that do not have their own loop holes, no matter how tight they think they have secured every angle, there will always be a loop hole that a hacker will see and use as their weakness against them, from there is when they become perfect, as they say, “once bitten, twice shy”. Their weakness will eventually make them stronger as long as it does not kill them. It is when an exchange allows themselves to be bitten twice through same way that I so much frown at, it means they are just concerned about the profit they are making and not the security of its users.Whether decentralized or no decentralized, they still have a way of serving the needs of the public in their own way.
Decentralized exchanges have many advantages. I prefer decentralized exchanges because they are not monitored and controlled by any entity. Also, in decentralized exchanges, KYC is not necessary, and anonymity is maintained.
When we use a decentralized exchange, we must take great care of the security of our coins, because they can be lost quickly if we do not take care of private keys.
When we use a decentralized exchange, we must take great care of the security of our coins, because they can be lost quickly if we do not take care of private keys.
I really like decentralized exchanges because they are not controlled even you can access the decentralized exchange without even transferring the tokens to exchange wallet you can access directly from your wallet also the importance of dex can be understood by studying the top exchange projects and we will come to know that almost all of them are working to develop their dex prime example is Binance which is very close to launch of their own decentralized exchange.
In the world we are living today nothing is unhackable and that's because everyone has acces to latest technology and hackers can use it to their advantage just as security companies use it to their advantage. Both centralized and decentralized exchanges can be hacked but the decentralized ones have some important advantages and features that are useful for most of the people and that's why they are so promoted.
Despite the fact that there have not been any form or record of any centralized exchange and most the security tokens are optioning to get listed on centralized exchange the fact still remains that the security of any exchange still remains with how effective the team is to secured there exchange. So in all I still believe in decentralized exchange because they represent the anonymous nature of the cryptocurrency industry.
Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked
An exchange that is truly decentralized is never holding your coins which means that if you lose them the exchange was not hacked but the user, this puts the responsibility of protecting your coins once again in your shoulders which as we know is a good thing and also a bad thing, it is a good thing for all of those that are looking to have complete control over their money, but it is also a bad news for many people that are simply not prepared for taking that kind of responsibility as we see all the time in the forum when people expose the circumstances in which they lost their coins to hackers. There are many more reasons of why people are excited about decentralized exchanges, one of them is that with decentralized exchanges you will not need to go through know your customer policies.
because exchanges are very valuable for people who hold coins to be exchanged in currency. moreover the decentralization exchange is where people make buying and selling transactions and invest in profits.
One benefit is that we won't have to go through these ridiculous kyc procedures to trade our coins and withdraw them. For some this is more important than being totally safu
Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked
We can achieve point when there is a complete decentralization.But the only difference between centralized and decentralized is that you have a private key. It is possible to manage the accounts even in decentralized exchanges. 
The main advantage of a decentralised exchange is the fact that you are not losing control over your funds when you are transfering your tokens to an exchange. You still have control over your coins/tokens and not giving it to a third party.
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