Bitcoin Forum

Hello,

There is quite big number of DEX exchanges on the cryptocurrency market.
I would like to ask you guys which DEX exchange is the most safety in your opinion and why?

It would be nice if you also will say something about differences between DEX which you think is safest and for example Etherdelta.

I'm only using Forkdelta as DEX exchange, i used it was to sell many shit tokens which i got from several bounties before and those token didn't listed on other/normal exchange. I can't compare Forkdelta and other DEX exchange since i've never tried other DEX. But there is binance DEX which you should give a try,since we know binance is the most popular exchange site for now

If you wanted safety, I guess it is best to just always use Metamask when interacting with such exchanges and you're good to go.
I've used ForkDelta; which was obviously a fork of the infamous Etherdelta.
Another supposedly "decentralized" exchange was IDEX, but recently they have implemented KYC and AML compliance to their users which is a very weird move for a decentralized exchange. They have also been known to officially list numerous shit tokens.
bancor.network is also a great decentralized exchange. You can even trade ETH tokens to EOS tokens in there (and vice versa).
Other decentralized exchanges I know are:
https://decentrex.com
https://ddex.io

Etherdelta and Forkdelta are good enough if you know how to trade using your wallet and private keys in the proper place with the habit of keeping the window open in the browser. ;D I wish ED had an app interface too but thats too much to ask for.

You should be more careful about the sites because there have been phishing attacks on users by pointing them to the wrong phishing sites using various methods. Be careful of those, dont click on links sent in emails,DMs. Bookmark the official site links and use them to visit only.

Do not go for a other new dex that opens up. Many of the are going to end up as scam. When a new one comes out, let the dust settle, check their business number and where they are registered from, ask in this forum and only then put your money there.

i heard that there are better alternatives than these two .  ed is slow but fd is slight workable   .still these two are the pioneers when it comes to decentralized exchanges  .  using private keys on a dex exchange like them are also not advisable  . idk why , but they said it was risky  .

@op there already a thread here that ask the same as you   >https://bitcointalk.org/index.php?topic=5171465.0

Binance's man, if all others get hacked the Chinese ones will still stand
for some reason they dont seem to get hacked or shutdown, and if they do they have systems like SAFU in place
not sure if they just take security more serious or what

Most of the DEX's are save as you can operate with the smart-contract and withdraw your funds even if the site is down. Here is one example:

https://medium.com/bitfwd/how-to-bypass-idex-exchange-frontend-and-two-cents-on-meta-transaction-7a9ff21d707

I'm now avoiding IDEX as they implemented KYC. IF you need to pass a KYC, better do it on exchanges like Binance and OKex.

Currently, I'm using these: 

DDEX - most likely
Bancor - for instant swaps
Forkdelta - most unlikely due total lack of liquidity on most tokens.

Basically everyone including me, sees IDEX as one of the best DEX before they've implemented KYC but many of its users stepped back from them after requiring it. I'm trying to shift with barterdex or BISQ but so far the first choice that I have now is with the forkdelta and etherdelta.

I love these two, especially Bancor as real-time trading, no need to set for an order, just hit the button sell or buy then voila! I just love it.
While forkdelta you can list a token for free but yeah don't expect for liquidity, the chances are slim.

On the other hand, we can't say a 100% safe for every exchange site as everything online is vulnerable. One thing you can do while using Forkdelta is don't import your main wallet. I mean, you can create a new wallet exclusively for it and just transfer the token you'll trade.

There are but these are the oldest running ones. The ones you can trust without any doubt, unless they get hacked.

You have to use private keys to access the dex. Thats as far as I know. I dont prefer using dex, posted them for the OP to know. I am still more comfortable with a Cex even if they ask for my KYC because I would trust a human handled exchange at my country to have my info because I am trading an asset, just like a stock market trader.

Also the reason why scammers have tried creating phishing URLs to these sites so they enter their private keys and get hacked.

The only DEX to whom i trust is BisQ. I dont say that i dont trust any existing Dex but on Bisq which
i do prefer the most. Does anyone consider McAfeeDEX to be included into their option?  ;D

Lots of Dex though like IDEX,Forkdelta and DDEX.Well,you can have your choice though.

Etherdelta/Forkdelta used to be my best DEX till I got to IDEX. I love the interface and ease of usage on IDEX. Only that recently IDEX is moving out if the realm of being a decentralised exchange, they Joe require their users to register aj account alongside KYC. Binance DEX on the other hand is good, used it and it's satisfactory.

Forkdelta is the truly decentralized exchange site that is really safe and compared with the current generation of dex and it's not comparable consider the current generation of dex is centralized which means if that was not truly decentralized dex. So many times fork and etherdelta have already attacked by the hackers.
Binance and bancor should not be included on the list of dex and why?
Binance is a centralized DEX that is fully controlled by the team. I thought that almost all crypto users very well known about this a fun fact, it looks very strange to hear some people are still calling it as DEX because the fact said the team is putting a verification process to be listed on there.
Bancor is also not a dex consider with the power to erase the bancor coin through a backdoor that has already created by the team in the contract that means this is a centralized exchange site. People don't even know what they are talking about that they still say if bancor is a dex but the technical consideration said the different thing than it.

Best DEX was IDEX for me. But now traders must pass the KYC for withdrawal limit. Withdrawal limit without KYC is 5000$ daily. I still use this exchange, but it can't be named DEX.

I cant totally say that those are totally be called as DEX since they would still need up some KYC.
True DEX doesnt requiring anything.Talking of safest DEX exchange we cant really always talk about 100%
safety since its not really possible but remembering when im still using up forkdelta to whom i believe its
not possible to experience problem but it actually did.Binance DEX would be preferred since its being tied up
with its main CEX so you can somewhat assure their credibility.

IDEX was the best before they added the users must complete the KYC and currently i prefer to use forkdelta because they don't need the user to pass the KYC

It's a funny question when you think about it. One could argue that any DEX should be safe to use, but I'm guessing most people are unaware that a REAL DEX is owned by no one but the users.

Take a look at Blocknet, which released the first DEX on the market. Completely peer to peer trading, and with a ton of assets listed. :)

Decentralized exchanges was meant to be its security and privacy but how many reported dex were actually complete decentralized exchange which is the biggest question among the users that is why they are preferring reputed centralized exchange for trading their funds.

You can pay attention to the top exchanges, they have more users and their security is relatively high. Never go to an exchange where there is no user trading, that could be dangerous behavior.