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It seems that most traders are comfortable using centralized exchanges and accept the risk of spontaneous exchange shutdown. Decentralized exchanges for Ethereum have been around for a while and have been getting more advanced. More people are using them now than ever before. However, cross-chain proxy-free decentralized exchanges (such as Litecoin to Bitcoin or Bitcoin to Ethereum) still lack a significant user base and adoption even though their benefits are well understood and their user interfaces have continued to improve. It appears that settlement speed and blockchain fees may be a major hindrance in their adoption.
What do you think? Why do you prefer to trade cryptocurrency using a CEX over a cross-chain DEX?
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Decentralized open-sourced cryptocurrency exchange NebliDex has released an open source market making bot on GitHub that can be used with the Trading API for NebliDex. Market makers earn a 0.2% rebate on each trade. The bot is listed on GitHub.
How does this bot work to make money?
The market making bot can generate a profit two ways. It can use traditional spread differences (buy low, sell high) and, unique to NebliDex, earn market making rebates of 0.2% per trade from taker fees. To use, just load your NebliDex account with a balance, activate the Trader API, turn on the bot and it will trade with what you have. The bot is open source so it can be adjusted to fit your specific needs. It must be built from source, there is no binary available.
What is NebliDex?
NebliDex is a computer-based cryptocurrency exchange supporting Mac, Linux, Windows and Android that has been running successfully since 2018. Traders can use it to make atomic swaps between different blockchains, such as Bitcoin for Ethereum, Bitcoin Cash for Bitcoin or Bitcoin for popular stablecoins such as the DAI and USDC. Because its using atomic swaps, there are no third-party custodians and no proxy tokens. Server nodes are only there to relay trade and market information.
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Decentralized open-sourced cryptocurrency exchange NebliDex is now accepting ERC20 tokens that meet certain requirements to join the network!
What is NebliDex?
NebliDex is a computer-based cryptocurrency exchange supporting Mac, Linux, Windows and Android that has been running successfully since 2018. Traders can use it to make atomic swaps between different blockchains, such as Bitcoin for Ethereum, Bitcoin Cash for Bitcoin or Bitcoin for popular stablecoins such as the DAI. Because of atomic swaps, there are no third-party custodians and no proxy tokens. Server nodes are only there to relay trade and market information.
Why a listing fee?
The listing fee is there to support the developers work in listing your ERC20 token, which includes research, implementation and support for your project.
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Can you be more specific about what you determined was misinformation?
There is no decentralization. As you mentioned, the token works just like usdt or udc, which are fully centralized. Who decides what to do with the BTC lended? Who holds the BTC? Who holds the data to confirm if wbtc is or not backed up by BTC? All these items and much more and controlled by one person or company, which makes your project fully centralized. Your text is misleading imo. You are trying to advertise your service not the way it really is. You should change title for like "earn interest by lending me Bitcoin" , for example. Because nothing is decentralized there. You also said "trustless". How would it be trustless if users have to trust you have BTC pegged? I agree that wBTC is not as decentralized as normal BTC due to the fact that only a select group of companies manage it. For each wBTC created, the custodian, BitGo as far as I'm aware, locks an equivalent amount of BTC into multisignature contracts. They do continuous audits on those contracts to make sure that the wBTC that exists matches the BTC stored in the contracts. Again, NebliDex is not involved in that process so we are not the custodians but merely an exchange between wBTC and BTC. |
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Anyone have any thoughts on coins that have their own DEX's as far as future price?
I know Bitshares has a good one. It's an easy two step process to sign up, Just pick a user name and they give you a password which you then have to copy and paste in. One can print that out as a type of hard wallet.
I don't know about other coins except that Komodo I thought was working on one about a year ago.
i dont know whats going on with Komodo they had their Dex ready with atomic swaps then they stopped developing agama wallet and started to develop the Dex again i dont know what is the reason for that and i will be very happy if someone tells me whats going on they are not moving forward for years =/ thats why i sold my coins in the first place they are not professional enough I believe Komodo switched developers on their protocol and updated it with a new process, thus redeveloped the dex. You may want to check out NebliDex ( https://www.neblidex.xyz/) which is another atomic swaps DEX that has its own exchange token. |
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You can earn interest on Bitcoin using trustless and decentralized processes.
This is not decentralized and you are trying to cheat people with misinformation 2) Deposit Bitcoin into your trading wallet by sending BTC to your client wallet. Because this exchange is decentralized, all coin information, including the private key, is stored locally on your phone. There is no exchange wallet. Make sure you obtain sufficient NebliDex tokens (NDEX) as well because these tokens are used to pay trading fees to the exchange relayers known as Critical Nodes. You can obtain these tokens through the exchange. You will also need a bit of ETH to interact with ETH smart contracts.
3) Go to the WBTC/BTC market and exchange your BTC for wBTC (which is an ETH token that is pegged 1:1 with Bitcoin).
4) Withdraw your wBTC and send it to one of various decentralized DeFi solutions (Compound.finance or Fulcrum.trade)
5) Earn passive interest and withdraw when ready. Repeat these steps in reverse to go back to Bitcoin. All steps can be accomplished without identity checks or signing up.
You are not giving the privatekeys of bitcoins to users, which they gave to you. They have the privatekeys of a shitcoin you created which is totally centralized and not audited. Nobody knows if you have bitcoin 1:1 with your token. I advice everyone to stay away from this because this really looks like a scam, as most of the information above is misleading. Added negative feedback. Will create a flag. For the record, I am not the creator of wBTC. It is made by a consortium of companies, similar to how Coinbase backs USDC. Their website is: https://www.wbtc.network/My team designed an exchange that allows users to trade it for BTC using atomic swaps. Can you be more specific about what you determined was misinformation? |
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You can earn interest on Bitcoin using trustless and decentralized processes. Here are the steps that you can use to do that using NebliDex, an open sourced atomic swap exchange: https://www.neblidex.xyz/1) Grab the NebliDex application, there is a mobile client available. The source code is available too so you can build from source and run if you prefer to do so. 2) Deposit Bitcoin into your trading wallet by sending BTC to your client wallet. Because this exchange is decentralized, all coin information, including the private key, is stored locally on your phone. There is no exchange wallet. Make sure you obtain sufficient NebliDex tokens (NDEX) as well because these tokens are used to pay trading fees to the exchange relayers known as Critical Nodes. You can obtain these tokens through the exchange. You will also need a bit of ETH to interact with ETH smart contracts. 3) Go to the WBTC/BTC market and exchange your BTC for wBTC (which is an ETH token that is pegged 1:1 with Bitcoin). 4) Withdraw your wBTC and send it to one of various decentralized DeFi solutions (Compound.finance or Fulcrum.trade) 5) Earn passive interest and withdraw when ready. Repeat these steps in reverse to go back to Bitcoin. All steps can be accomplished without identity checks or signing up. For more information on what WBTC is, go here: https://www.wbtc.network/. |
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Good write up. I can see how DEXes can integrate this into their existing interfaces. I guess the only downside is that both parties must already have ETH.
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So I want to ask another question. If there is a decentralized exchange: user friendly and easy to use. How can it prove that is it really decentralized? How can you say that 'okay this is really decentralized and I am secure here.'?
Are you blockchain developer? If not, how can believe a person to this?
Take a look at NebliDex. It is open source and anyone can verify the code logic of how the exchange works. |
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Just switch over to DEXes because as stated earlier, most exchanges will start to require KYC.
There are DEXes such as BlockDX and NebliDex where you can trade Bitcoin for various altcoins. NebliDex even has an Ethereum market.
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Monacoin is now tradeable on NebliDex, an open sourced decentralized atomic swap exchange. No signing up or anything like that required since the exchange is just code. Markets include: MONA/BTC, MONA/LTC, MONA/DAI Website: https://www.neblidex.xyz |
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There are many out there, but most of them has 0 to no volume at all.
Are there any proper DEXs with big volume? Although I haven't checked, I assume none of them match a big centralized exchange's volume yet. Everyone would switch to the DEX if there were any with high volume. Hopefully in another year or two some genuine DEXs might take over from centralized exchanges. I would agree that lack of volume is a major problem with DEXes out there. It is hard to get a person selling and a person buying to use the same platform. NebliDex was created to make the process of onboarding a lot easier. |
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The Binance of today was the Mt. Gox of yesterday. Unfortunately, as new people get into crypto, they will fall into the crypto honey pots known as centralized exchanges. There really needs to be a push from those experienced with cryptocurrencies to push new users away from keeping all their coins at centralized exchanges.
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Reserved for Chinese (Mandarin) translation
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Reserved for Japanese translation
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What is it and how does it work?NebliDex is a decentralized cryptocurrency exchange software that is ran on your computer, similar to a regular Bitcoin/Altcoin wallet, and connects to other nodes on a network via the usage of master nodes to trade peer to peer using atomic swaps. These master nodes are called Critical Nodes and are responsible for matching traders to each other along with providing order book and chart data. They are rewarded in the platform's proprietary token (NDEX) for facilitating a trade. Anyone can be a Critical Node on the network if they have at least 39,000 NDEX tokens in their exchange wallet. The trading network can be ran with even one Critical Node active. Your private keys are stored on your computer in an optionally encrypted wallet. You cannot trade if the program is closed. There is no third party custody. What are the supported currencies and markets?NebliDex supports atomic swap trades for Bitcoin, Litecoin, Groestlcoin, Neblio, Neblio based tokens (NTP1), Monacoin, Bitcoin Cash, Ethereum, ERC20 tokens (only DAI and USDC currently). No derivative tokens/coins are utilized. Swaps happen directly on the coins' respective blockchains. The current markets are (as of July 22nd, 2019): NEBL/BTC NEBL/LTC NDEX/NEBL NDEX/BTC NDEX/LTC TRIF/NEBL NAUTO/NEBL NCC/NEBL HODLR/NEBL NTD/NEBL TGL/NEBL IMBA/NEBL LTC/BTC BCH/BTC ETH/BTC MONA/BTC GRS/NEBL ETH/LTC MONA/LTC NDEX/GRS NDEX/MONA NDEX/DAI NDEX/USDC NDEX/BCH NDEX/ETH NEBL/DAI NEBL/USDC LTC/DAI LTC/USDC BTC/DAI BTC/USDC BCH/DAI GRS/DAI MONA/DAI Exchange HistoryThe exchange was originally designed back in 2018 for use with Neblio ( https://nebl.io) and Neblio based tokens but an expansion effort was made early 2019 to include other popular cryptocurrencies. ERC20 tokens DAI and USDC are the most recent addition and the Ethereum contract for them can be found in the GitHub. Exchange FeesCritical Nodes expect to receive NDEX from the traders for each trade. The Critical Node that facilitates the trade gets the payment. The NDEX fee is dynamic and is based on the NDEX/NEBL price. When you buy NDEX with a non-Neblio based coin, the trading fee is subtracted from the amount bought. There are no Deposit fees, there are no Withdrawals fees. Since every transaction is on-chain, a blockchain fee must be paid to the miners mining your transaction. DisclaimerThe exchange is ran by open sourced software. There are no humans running or in-charge of the exchange, no human arbitrators, no one to ask for your personal information, and no logins or signups. All logic is based on blockchain information. However, if you notice a bug or problem while using it, submit a bug report to the developers at: https://www.neblidex.xyz/bugreport/
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More exchanges = more options = more chances to get scam = more wisdom = more demand for decentralized exchanges = more decentralized exchanges
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