Bitcoin Forum

Hi all, i have just began trading on decentralized exchanges like IDEX and have a few questions. 

I am using metamask to transfer to  interact with the exchange but are my coins being stored on metamask?  and can i use my trezor to trasfer to and from the exchange.  I am trying to trasnfer some coins i just bought off of IDEX and am having trouble sending the transaction.  made me think the coins arnt actually being stored on metamask and that i need to first transfer them off of the exchange?

thanks all!

All those decentralized exchanges sometimes lagging and have some delays with displaying the transactions so I would recommend to wait some time before  funding your account again. Such exchanges are normaly using ETH wallet (metamask / MEW / ledger) both as a login and password for the exchange account but you will still have  to send your tokens to / from exchange and fund your exchange account to make purchases.

When you use idex you have to deposit and withdraw funds. Here's a guide on how to do it.

https://medium.com/aurora-dao/how-to-deposit-and-withdraw-from-idex-e277f0237405

If the funds are fully withdrawn then you should be able to send them without any problems.

Can someone give the feedback on DEX CoinChangeX - whether I should be using it or not?

I don't think I will ever use IDEX because it uses our private key to sync the wallet. It is not safe. I am afraid there is a middleman between trader and the exchange.

With IDEX one way is to use your private key and then you are at risk, that's for sure. But you can use metamask with IDEX too. In that case I think you never put your private key at risk because metamask encrypts it internally. So use metamask or hardware wallet if you are concerned about safety, which you should always be.

I have a suggestion for you since I also used IDEX to exchange my tokens into ethereum.
Even though that exchange site was decentralized but still I don't trust to link my main wallet just like trezor or metamask.
They are asking your private keys when you import your account on that exchange, which looks suspicious to me.

Here is the best thing would you do, create a wallet in a MEW then transfer your coins/token to be traded from your main wallet. In this case, you can be lowered your risk and doubt regarding than that.

Idex exchange site is a very safe and secure trading site commonly belongs to ethereum base trading section,which open an easily for transacting coin and a method on how to do and can be done in a minute. Thus the expereince you have done which include on metamask wallet address is a case of transaction lagging which more people have using idex exchange.

for erc20 coins idex is one the fastest growing  upcoming exchange site which is safe and secure and more coins are added must needed in the industry

Time consuming but when it comes to to security then i would suggest this thing and ive been doing this where i do make use or create other wallet and i do transfer those tokens which i do need to convert rather than on using up your main wallet where your coins is mainly being store up.The thing should be putted in mind when using DEX is to log out your wallet even its just a dummy  dont leave it open.

Time to buy SNTR guys. They will have a lot of announcements this moth so price will double for sure

Recently, transactions are often very slow when sending via Metamask, at the same GAS as via MEW.
I think often it slows Metamaks, or am I mistaken?

There are times recently maybe because of what's happening in trading in Eth. Maybe that's the reason but last week there's no problem. I also wonder why. but I heard IDEX and other dex will eventually be required by the govt to have a license for AML. Another FUD maybe

Then there will be no sense in the decentralization of the exchange. The whole point is the freedom of the user.

It made you think the coins are not in the metamask because it actually not lol

You would have to create an account in IDEX where you have the privatekay and you also know the password of your account, isn't that better than loggin into the idex with your private key?  Using privatekey to login like how they do it on etherdalta is the cause of users victims of phishing.