I am not in any way surprised if any decentralized exchange asks for kYC in the long run. Truth is, as long as the government becomes interested in cryptocurrency, then soon many projects will have to follow compliance and have to be regulated
I believe the current situation with cryptocurrency and goverments relationship will make all "DEX" comply to the regulations and at the end it will leave those exchanges that actually care about privacy and stay true to the definition of dex |
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Personally i believe privacy is everything and i agree with this initiative. For me everything regarding crypto has to be safe and private, it's the special thing about it.
That's why i support SwitchDex and their actual commitment towards being a true DEX.
and
That's why i will support this project.
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https://t.co/BOlh4wF1JuAnother big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange. The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore. SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306Their DEX looks good and they making sure privacy is the primary focus. What other DEX you think will fall into the KYC hands and what DEX will you use now? I read on one article about this SwitchDex and it looks interesting and being promoted by Mcafee as a legit and real decentralized exchange, I'm looking forward to using this DEX after this news that IDEX is now regulated although there are still a lot of DEX's in the market. Switchdex is no US based company and it's different with idex as the operation is located in US and that must comply with US regulation. Im using it right now but UI needs a lot of improvisation consider about im not even feeling comfort to see that. That's correct SwitchDex is not an US company. I also agree with the general consensus on this thread, having a DEX in the US is impossible, just a matter of time for KYC and regulations to arrive. |
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Guys check SwitchDex first, mess around with the site and research their goals. I believe this could be the one to replace IDEX.
For the people saying DDEX i did some research and in their FAQ they do say that can actually collect your info and store it in case you break their rules. A real dex won't do this.
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https://t.co/BOlh4wF1JuAnother big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange. The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore. SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306Their DEX looks good and they making sure privacy is the primary focus. What other DEX you think will fall into the KYC hands and what DEX will you use now?
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Do you believe that businesses and enterprises will get into DEX’s as well?
DEX is now proved to be beneficial for business. As large enterprises are entering the crypto market, they'll surely create better dex and a token required to trade on the dex. They'll loosen the fees to attract users. They'll hold 90% of the token while circulating 10 and make gradual profit by sending those tokens to the market gradually. Then there would always be those fees. A DEX is supposed to be privacy focused and no data sharing. This goes against the business model of any company and it will get them in legal troubles. Companies could create a normal exchange and comply to any regulation in order to be "Legal". For example if any public company does what SwitchDex is doing and don't comply to the KYC or any other regulation + not recording personal information they would get sued and jailed by the "justice" system. Most companies won't riskt that. |
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I see them splitting into 2 routes.
The first one is the corporate one. Banks and other big companies including binance, kucoin and other exchanges complying to the KYC leaking customer informations and everything. Having the same privacy as facebook lol
The second option is the same route SwitchDex is taking, going full privacy and security focused. No complying to the KYC or any other regulators, obviously they won't be as popular as the others but i'm sure the core cryptocurrency group will appreciate having some exchanges that actually care about the customers privacy and security.
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https://youtu.be/npizv1QBoQ4Exiled - John McAfee On The Run (2019) | Official Trailer | Coming Aug 2019 Presented by Bitcoin.com, SwitchDex.ag & Aircoins.co
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https://www.coinspeaker.com/switch-ag-switchdex-trading/" The SwitchDex, a decentralized exchange designed from scratch, offers 6 base pairs for trading and the easiest interface a user can find in a full-fledged crypto exchange. One of the biggest hurdles faced by entry-level cryptocurrency traders is the complexity of navigating on exchanges. As exchanges attempt to offer more and more options, greater services and advanced features, the average trader can be overwhelmed with confusing interfaces. The SwitchDex platform, one of the easiest ways to exchange one crypto asset for another, offers a decentralized exchange that continues its legacy of simplicity. The SwitchDex is a decentralized exchange that is designed from scratch, offering the easiest user interface you can find in a full-fledged crypto exchange. The exchange already has listed in excess of 100 tokens available for instant trading. What’s more, trading is made even easier with 6 base pairs to choose from. Apart from the broad trading pairs or the increasing number of tokens, the exchange offers a combination of features that are difficult to match, even by the biggest exchanges. First of all, tokens are held by users. This means that, as a decentralized exchange, the ownership of tokens lies with traders, not the platform itself. Secondly, there is no maker, deposit or withdrawal fee – only a standard 0.2% taker fee is charged. This taker fee can even be eliminated altogether with a one-time payment. And, finally, half of all fees generated from the platform’s native tokens is airdropped to token holders. The Switch ecosystem, both the simple swapping and decentralized exchange, the Switch.ag and SwitchDex, have their own native tokens, DESH and SDEX. These tokens offer instant benefit to the users of the platforms through airdropped profits generated from fees, and also give further discounts to users. ESH is another token that has been recently listed on the SwitchDex platform and token holders are also given the opportunity to earn airdropped fees of both the Swtich.ag and SwitchDex platform (50% of gross fee). The ESH token has already been listed on DOBI and Instant Bitex exchanges. Two more exchanges, Mercatox & IDEX, have also confirmed an imminent listing of ESH. This token is also preparing for more exchange listings soon. Switch.ag and its decentralized counterpart, SwitchDex, have already generated immense interest in the online community. A number of high-profile personalities have agreed to be advisors to the Switch ecosystem. Digital security guru John McAfee headlines this list of advisors. McAfee is a household name when it comes to security of computers. His anti virus software is one of the most downloaded and used in the world. Other notable persons include Mate Tokey, a man known to have a knack for creating crypto portals that are among the most-visited ones in the industry. Simon Cocking, the Editor in Chief of CryptoCoinNews is also advising the platform. With simplicity at its core, the Switch.ag and SwitchDex platforms are offering an easy and intuitive user interface that allows people to make efficient and effective trades. "
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https://bitcoinnews.com/switch-exchange-interface/" A new kind of token exchange, Switch.ag, is changing the way cryptocurrency owners exchange their assets by providing a unique interface which simplifies the process of exchanging tokens. One of the growing challenges of token fungibility on a traditional cryptocurrency exchange is the limited trade pairs among assets. The most popular trade bases are either BTC, ETH, a few others of the top 10 cryptocurrencies by market capitalization, and a host of stablecoins. With its new design, Switch.ag allows its users to switch between any of their assets without going through a third party pair like BTC, ETH or any regular trade pair found on most exchanges, thereby saving the cost of fees and time and improving token fungibility. A New Way to Trade Tokens Backed by prominent industry movers, Switch.ag promises to give users – regardless of their location – an unprecedented user experience with its intuitive and simplistic design that allows users to switch between different pairs of over 100 assets. It even lets them purchase cryptocurrency using gift cards, and make donations to charitable causes easily from within the exchange. Switch.ag has both an asset switching platform and a decentralized exchange – SwitchDex.ag. The former allows users to select which tokens they want to switch between and, at the click of a switch-button, perform transactions that average a few minutes to trade to any cryptocurrency asset of their choice. Notably, the assets are pegged to their dollar rates at the time of switching, making exchange rates easier to calculate, independent of the platform’s fees. The Switch platform features a deposit address where funds can be refunded to in case of an error, and a receiving address that indicates where the switched funds are to be transferred. These allow for enhanced security of funds. A DEX for all ETH-based Tokens The SwitchDex promises to deliver the most seamless trading experience and rebate system. The platform has a similar operational model to regular decentralized exchanges with the option to pair with either ETH, Wrapped Bitcoin (WBTC) or a few Ethereum-based stablecoins such as DAI, TUSD, USDC, and PAX. The platform has seen the likes of John McAfee (tech mogul and cryptocurrency evangelist), Simon Cocking (Editor-in-Chief of cryptocurrency news media CCN), and Mate Tokay (founder of Bitcoin.com News and Bitcoinist) serving in advisory roles to the project. The SwitchDex promises huge benefits such as giving users full control of their funds as the funds are not held by the exchange. It also offers a competitive trading fee of 0.2% which is applied to the taker transaction only. Members who whitelist their address by paying a one-time fee will also benefit from zero (0%) taker fees permanently. As for the fees generated on the platform, 50% of fees collected by SwitchDex are airdropped to SDEX token holders each month (SDEX has a total supply of 200) while 50% of Switch fees are airdropped to DESH holders each month (DESH has a total supply of 1,000). Switch.ag has its own platform token called ESH, which is backed by 50% of the fees generated by the platform from both of its trading desks. ESH tokens are airdropped each month to holders of ESH tokens proportionately. These are is already tradable on several reputable cryptocurrency exchanges including Instant Bitex and DOBI, with plans being made to negotiate listings on Mercatox, IDEX, and other exchanges soon. To learn more about the platform visit the website https://switch.ag/. "
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Done! Good luck with the data
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ESH - Token that represents the fees from Switch.ag and SwitchDex.ag recently the price went over +100% rise because of various exchanges listing, possibly another big rise when they get listed in coinmarketcap which should be soon. SHIP - Interesting concept with many alliances, imo bright future ahead. TRAC, AGI, AE are my go to trading tokens rn. Only Daytrading tho. |
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SwitchDex.ag no doubt about it. The truest Dex in the market, they will never ban IPs or bend down to some government, this si truly a dex. Fast UI, constant upgrading, You don't need to pay to list a token too! Also, you may pay a one time fee and get rid of fees for life. IMO, currently the best dex.
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I sent a Bitcoin from Indodax.com to the IDAX Exchange, but it still hasn't finished and it's been more than 1 hour, isn't this too long?
what is the actual time to make the transaction?
Possibly low fees so taking for 1-3 hours i believe. Should consider trading in Switch.ag, not your key not your cryptos. Stop gifting exchanges your funds |
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Legit a bad copy of Switch.ag  Way to similar op |
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To be honest i wouldn't count on them winning the case. I traded the token for some time but had to cut the losses nothing big but still, if you need to get rid or trade KIN instantly you can do it at Switch.ag and get some stable tokens or other alts man. Also, a good token right now could be AGI or TRAC, waiting good things for trac and despite the recent loses.
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Advisors are just a name to legitimize a project
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Legit you guys sound dumb everytime you say shitcoins, there are tokens without any purpose and if you invest on them instead of calling shitcoins call yourself a shit investor. Altcoins have been the biggest source of money for me, i'm constantly daytrading between alts at Switch.ag and always getting profit just know the market. If you could see i was telling in these threads to go there and get some link before it blew and people are just missing a great bag just because "SHITCOINS"
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Most people i read are saying btc needs to go down to 8k and then the eventual bounce back. Right now i'm just investing in alts and trading there waiting on the big btc drop.
My advice is to wait more if you only want BTC, if you want to invest for the time go to SwitchDex.ag and buy some ESH.. They are pulling a bunch of work recently and the price is steady going up, highly recommend it. Plus ESH gives you dividends in ether just for holding the token.
Some other tokens are AGI, TRAC, LINK
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