Bitcoin Forum

I hear Binance is bringing one online but was wondering about the KYC that it would require.
In General, it seems that the advantage of a DEX is the lack of KYC although maybe that will be changing.
The fundamental problem that people have brought up is the fact that setting up a DEX for their coin seems to be hard.
Are there simple ones out there?

Are you sure Binance's DEX is going to ask for KYC? It would be totally contrary to what a good DEX should be. I still hope they won't ask for KYC, otherwise I won't be using it. At the moment I would recommend two DEXs that I use. IDEX, http://idex.market, mostly for ETH ERC-20 tokens, and CryptoBridge, http://crypto-bridge.org/, for the various others coins. Maybe there are better ones, but these two are what i use.

There are a lot of great DEXes on the market. But the most famous and secured one is for sure IDEX. They have launched POS mechanism not so long ago, so people can stack their tokens and bring the security of IDEX on the next level. I also prefer to use Forkdelta to trade useless tokens.

The only do do decentralized exchange is BisQ. The rest are far from being one. BisQ still have centralized solving of disputes. The rest should be fine.    Everything is much simpler to use after you get used to.

But these two seem to be Ethereum specific. What about a DEX for a dash clone??

I never use Binance DEX platform. But I am using Etherdelta & ForkDelta for my Ethereum tokens. And it is so easy and safe for me. If you can use Metamask it is super easy.

I also not using Binance dex, i only used myetherdelta and only for tokens, but for now you can use forkdelta and also you can try use Binance dex, and see which works better.

I have been using etherdelta.com for quite some time. This exchange seems for me to be quite simple to use. Also quite good exchanges token.store and ddex.io. I use them together with Metamask, while there were no problems.

There are quite a lot of criteria for choosing DEX if you need to quickly make a deal, then of course it’s an DEX Binance, but yes there is a problem with the fact that you need to go through a verification if you want without it there are a lot of other similar exchanges.

I am using idex from the day it’s launched i feel it’s very good exchange . Yes there is minimum trading requirements for makers and takers as like we can’t trade very small amount used be in etherdelta . Binance dex still I don’t have proper idea .

Uptill now i have only used and traded on three decentralized exchanges namely etherdelta, forkdelta and idex and among all these i have found idex to be easiest among all these, you should also check if your tokens are listed there and does it have decent liquidity before starting trading.

Probably TronTrade at the moment, really fast and cheap, it's arguably the best DEX out there.

Anything offered by Binance almost always spells first & foremost an immediate payout for Binance upper management, so bear that in mind.

I didnt know that Binance DEX do ask out some verification which is fully contrary to be called as dex yet its still centralized.

I was tending to tell about Bisq but its already mentioned above by some member.This exchange do speak it all when it comes or we do talk about decentralization.
There are several known or popular dex but most of them are Erc20 support platforms.

I don't think Binance would wanna introduce kyc for it's own dex. A dex is only dex because people(users) didn't necessarily have to go through rigorous security verification before they can use. They are called user-friendly

I don't like Idex with a mandatory minimal pricing policy of  0.15 eth for any coins. And its bot is always traded by тo dump by coins. Really,any useless tokens can actually be sold on Forkdelta. But be extremely careful when trading on FD.Today, the hacker has cleared my MEW and many others wallets by bot at the same time because we are entering our private key there.

http://static2.keep4u.ru/2019/05/21/h16cd4db2e0d37ffc8.md.jpg (http://keep4u.ru/image/SY8Jo)

as i know, DEX is a stand alone, and people can't control or manipulate this system, i don't know why you talk Binance DEX is needed passed KYC, like other DEX ex, Idex, Forkdelta and etc they don't needed user to passed the KYC

I used to trade in Etherdelta then forkdelta.  But I am now trading on IDEX, the process is always the same, moving your fund to the dex platform and setting the price.  So basically, there is no easiest DEX to use because they all follow the same procedure.

i think idex is best decentralized crypto trading platform and really easy to use!so for me best dex is idex.also forkdelta and many other dex available but idex is best.

I support many who spoke about IDEX. Quarterly reward for trading, they have one of the highest liquidity for DEX, the trading process is no different from centralized exchanges and, of course, nice design ;D.
When their trade volumes approach the volumes of centralized exchanges, they will be out of competition.

yes you're right, I also doubt if later Binance DEX will use KYC. I even just heard this, before I didn't even think DEX had to use KYC. all people are free to access it and most importantly DEX can keep users anonymous. so we really don't need it.

I have traded on EtherDelta, ForkDelta, other one I can't remember its name, Idex is the best and easiest for me, I only need to make deposit using the ethereum network fee, and after that, I make withdrawal, but the bottle neck with Idex is that it operates on 0.15ETH maker and 0.05ETH taker, which way, if one has less 0.15ETH, one can't place an order and log out.

for me the easiest to use is IDEX and forkdelta. both are very easy to use and may have the highest trading volume compared to the other DEX. and if later Binance DEX is released, maybe he will become the biggest DEX ever.

I am not used Binance DEX since now, even I do not know if you can trade only tokens based on Binance chain?
But for ERC-20 token the most easiest one is IDEX.market exchange.

crypto-bridge is good enough to trade all kind of cryptocurrency
but for ethereum tokens maybe fork delta and IDEX can be a good options
regards

in my opinion for the dex market erc20 token which is easy to use is forkdelta and idex, for waves of course dex waves are the easiest, and for cryptobridge bts is an easy one, and last EOS I think dexeos and newdex

My most favorite decentralized exchange is IDEX. I really like the UI and swiftness compared to others like etherdelta. Forkdelta, a fork of Etherdelta, is also fair, although I don't use it most times unless I want to trade a token which has been listed unofficially  using its smart contract.

I'm still thinking if I'm going to trying out Binance DEX or not.
I have used IDEX and it's good as before people are probably forgetting about this DEX.

I use in trading only three decentralized exchanges that I trust and which I constantly trade. These are the Ether Delta, Fork Delta and IDEX exchanges. The only pity is that they have very small trading volumes.

There's nothing wrong in Binance DEX, I used that exchange for almost a year and now, so far I didn't encounter of any trouble when having withdrawals and deposits on that exchange.

IDEX also is a very easy platform to use, very cool UI that makes your eyes harmless because it is dark mode. Of course, these DEX exchange required a huge amount before you can withdraw.

Well,  there have been a lot of comments passed on Binance dex being overly demanding and unnecessary requirements since everyone know how dexes operate. Take a look at Ethereum based dex like forkdelta, etherdelta and idex.... These do not require kyc since all funds are at the control of traders at ALL times. I actually don't seem to understand why binance have to be different with kyc. Kyc matters is even lighter, have anyone seen the the listing fees and requirements for any project that wishes to list?...

When it comes to DEX I only use EtherDelta,ForkDelta and IDex.
I only use those since I only trade Erc20 tokens right now I mever use any other DEX from other crypto.

I recommend using forkdelta and etherdelta, seeing from exchange exchanges is extraordinarily good and can be used by special bitcoiners to exchange coins or tokens in the form of Altcoin, read from the preparation process and easy access to forkdelta is better and more widely used.

If KYC is needed to trade on a DEX then the truth is that it is no longer a DEX anymore, a decentralized exchange should be one that cannot be controlled even by those who created it, changes should be made based on consensus and not the decision of the creator anymore, also all the coins would not be on the exchanges but rather in the wallet of those who trade on this exchange so I don't see any need for any kind of KYC whatsoever, I believe they would be smart enough not to include it.

I think the problem with DEX is currently cross-chain transaction. For example with DEX exchanges like Fork delta, IDEX, you can only trade with the ERC20 token on the ETH platform, similar to Binance DEX only allowing token trading on Binance Chain.
The advantage of DEX is that you still manage your wallet, trading through smart contracts, so it's safer than other centralized exchanges. And DEX does not ask KYC as you say. And for your question, IDEX is still the best choice with friendly UI and good volume.

Stellar dex is crazy easy to use.

Just click the token you have and you are ready to go.

Others aren't that hard but stellar's is crazy easy.

I haven't use Binance DEX but I have the main CEX and submitted KYC to them. If we have accounts there, does it mean we do automatically have account to the DEX too?

If the DEX doesn't ask for KYC, I guess I can create a new account there and trade my altcoins. Good way to at least become anonymous still.

There is nothing decentralized with Binance. And Etherdelta trade only ethereum tokens and not crypto currencies as BisQ. That is a huge difference.

Binance DEX has an unfocused feature that previously CEO CZ said that posting on DEX will be censored. To be able to create a healthy and safe trading environment for investors

Dexs don't have kyc and I'm pretty sure binance won't have it either.
If it does, that is just self sabotaging.

I feel IDEX is the easiest to use although it's only for erc20 tokens.
You can use your private key, ledger, or create a new address directly on the exchange.
Since dex's are basically addresses interacting directly with each other, its typically very fast and easy to use.

So I am wondering how binance is going to work.
IDEX is so fast and easy because it is all on the ethereum blockchain.
Are they going to use crosschain solutions or something?
Whatever the case, once you use a dex you will never go back to a centralized exchange ever again.

It seems to me that you have listed all the advantages, advantages and negative aspects of DEX trading platforms.  But nevertheless, I believe that each user of cryptocurrency will have their preference, because not everyone has difficulties with providing KYC, and also not all. Everyone prefers to trade in other trading pairs, except token / Ethereum.

Binance is not a real DEX!

The only real DEX that i know is switchdex.ag (http://switchdex.ag) They don't collect any personal information! Your funds are yours.

The easiest DEX for me is idex. You know, people can lose money on etherdelta simply because you can buy something worth 1$ for 10 eth, but on idex it is quite impossible

Am yet to use Binance DEX, but if they are really Implementing KYC process, then I think that goes against what DEX stands for.
On the other hand, IDEX is the most easiest DEX to use, it is user-friendly with good user interface unlike forkdelta and etherdelta. And also, most coins that gets listed on IDEX tends to do well.

I think the easiest DEX I have used is IDEX. Of a truth, to a great extent it is far better than other DEX, both in terms is operating, UI and so forth. The reason I always prefer Decentralized Exchanges is, they are easy to use no need for registration and KYC.

Seriously, one of the advantages of DEX is anonymity, it requires no information from users in order for them to access full functionalities of the exchange. Thereby, any exchange claiming to be DEX but still requires personal information from users is not truly decentralized.
The easiest DEX I have used or traded with is IDEX, one of the features of the exchange I like is, its user-friendllines unlike other DEX I have come across.

Huh, I don't really understand about Binance DEX but obviously Binance wants to take over everything and become truly number one exchange company / services in this world. I think Binance DEX will get less interest from people and it would be just an option for traders to trade with higher security.

For me the best DEX to use is IDEX and what is important it doesnt want eth any time you make oder or cancel it like forkdelta do so its not just easy to use but also profitable too there are others like allbit but it need KYC.

At the moment, the easiest DEX for me is IDEX. Even as a newbie in the crypto space, i still found IDEX very easy to use. later on, i discovered that despite being a DEX, it employs centralized system of placing orders, which makes it easier. The only issue i have with it is the volume, but with time it will grow and suite to the taste of its users. It is one of the most promising exchange and particularly decentralized exchange in the crypto space.

I am much more inclined to favor Forkdelta over any other DEX'es as I've tested it for more than a year now and found it quite impressive. I guess there is really a sense of freedom and security when you use it as compared to traditional exchanges whereby you have to submit yourself to unwanted KYC procedures but also I have to point out one of its downside is that oftentimes it has low volume for its listed tokens.

the best dex for me is forkdelta. there i can trade all my tokens easily and safely.
as long as i can trade everything about forkdelta, i do not need any other exchange and certainly i will never use a dex that kyc requires of me.

The first exchange I traded on was a Dex. Traded polymath tokens on Etherdelta, it was so much drudgery. Same with forkdelta. The best Dex has to be IDEX and Cryptobridge. Operability is smooth with easy user interface.

People's opinion still go for Idex, which in my opinion is right. It has a better interface and user friendly. It has a lighter page with very high visitors, which gives high trade volume. Transaction fee seems low and transfer is fast, I noticed fewer complaints from users than other DEX in this forum and other relevant exchange forums.

Yes, but isn't it limited to ethereum type coins?

With DEX, binance will not require KYC because DEX are meant to be out of this kind of hassle. I recently used EtherDelta for doing some token exchane and it was a nice experience with this.

Idex is the easiest DEX I know of, but it has an issue of supporting only ERC tokens that can only be traded with eth pairs also that not all tokens get listed unlike forkdelta where all tokens can be trade automatically using the tokens smart contract address.

Binance Dex is not so decentralised bro :) Have a look at this vid : https://www.youtube.com/watch?v=xXmYxN8g2TQ

If you don't know it, have a look at Forkdelta, easy to use and reliable.  ;)

Will forkdelta let you trade a non-etherium derivative like let us say PIVX?

I dont think there is different in those DEX but many find it difficult to use due to the direct trade act and the UI of a thing , but I think it is still cool with binance as it UI is just like its normal exchange and easy to understand unlike other which some find difficult to understand.

YOU CAN USE IDEX FOR SURE!really easy to use and smooth .also you m,ay try etherdeltay brother forkdelta .and saturn is a;lso another dex to use and they are cool

Using of Dex is quite complicated for a first timer. A Newbie can easily loose his or her funds on Dex. The easiest of Dex are ForkDelta and etherdelta. IDex is not that easy to use because of the rules that does not support small traders. Dex are pretty safe and that's a good thing.

Idex remains the easiest, I just interact with my Metamask and my private keys are not expose to the site. I don't like Folkdelta orders are not cleared and this usually gives false hope, prompting one to make deposit in the hope of getting a good trade. Idex withdrawal may not be friendly as determined by the network.