Do you think DEX is safer? Here is why I don't

[Mpamaegbu]

1. Dex aren't safer than cex because with cex you only need to send out your token to the cex address, no connection to the platform which I still believe it's easier to lose your funds this way.

That's not true. I feel safer dealing on Dex than on Cex. Wait until you've KYC issue that wasn't there when you registered with a cex, then you will truly appreciate a platform that makes it easy for you to trade freely without the hassles of a KYC.

With DEX you can make a big mistake like buying a Copy of famous token! There Is Always a disclaimer that request clearly to check address before make a transaction.

This is why it's advisable to be sure of what project you're dealing with first by going through their telegram handle and feeling the pulse of other investors on the project. Ask admins for the contract address or search it out on the pinned message. It's always there. Cross-check that address with the one on the project list on CMC or Coingecko. Don't be too hasty to buy any asset without first confirming it. That way, you will be able to save yourself headache and unnecessary stress.

[The Cryptovator]

Not convinced. Dex isn't dangerous anyway, fake Dex is dangerous. Don't use Dex if it's not proven. You should use the separate wallet to connect Dex, then buy a token and move to your main wallet if you intend to hold a long time. The reason you are showing to using Dex isn't perfect. Should learn more before making a tutorial thread. This thread would misguide Dex users who aren't much experienced.

[Fivestar4everMVP]

Well, personally, I think dexs are actually safer when it comes to security of funds, but this actually depends on some circumstances, for example, dex becomes very dangerous if it's a fake, then this means that scammers will automatically have access to all the funds stored in your wallet, this is why it is always advised to check the web link you are visiting to make sure it's not a phishing link.
The only downside on dexs is that they can hardly be used for day trading due to several reason, and one of those reasons being high transaction fees, most especially when the network is congested, and another reason also is lack of liquidity on some markets.
This are the downside dexs, but like I've said before, security wise, dexs are good if you are not a crypto newbie.

[romeitaly]

I connected my wallet (metamask) to a few dex platforms to buy and sell some tokens and after every successful transaction I always disconnect but yesterday I decided to check the security option and I found a dex still connected.

I'm starting to have this feeling that

1. Dex aren't safer than cex because with cex you only need to send out your token to the cex address, no connection to the platform which I still believe it's easier to lose your funds this way.

2. There can easily be some back code or hack in future that can bypass and steal coins after several connections to trusted dex exchanges before.

3. If you intend to keep tokens for a long time it's safer to stay away from dex, better to send the tokens to cex exchange, your wallet will be safer this way.

I'm nothing saying it's a must to follow my way, these are my thoughts this day, you are free to do anything you like with your assets.

You are liable of your action, if you see a suspicious website yet you still connect your DEX wallet then there is a possibility that you can get scammed. Yes, CEX might be a lot safer than DEX but not every coin is in CEX, there is still a time where you will use DEX in buying tokens. There is a possibility that in the near future someone can decode the backend of the DEX we are using, let us rest assured that the devs can fix this easily and maintain the security and reputation of their system.
I also suggest that diversify your portfolio. Never hold your tokens on one wallet alone, so that if worst time comes, you have a back up.

[khaled0111]

I connected my wallet (metamask) to a few dex platforms to buy and sell some tokens and after every successful transaction I always disconnect but yesterday I decided to check the security option and I found a dex still connected.

How did you disconnect? was it just by closing metamask and the web page tab or did you click on "log out" from your account's settings?
If it's the former then the dex is probably using cookies to log you to your account but all it can do is to view your address. So, it's not really a big issue, just clear your browser cache and cookies from your browser and from metamask (Settings -> Security & Privacy -> Clear privacy data)

1. Dex aren't safer than cex because with cex you only need to send out your token to the cex address, no connection to the platform which I still believe it's easier to lose your funds this way.

By sending your coins to CEX you are no longer the real owner of those coins. So no, it's not safer.

2. There can easily be some back code or hack in future that can bypass and steal coins after several connections to trusted dex exchanges before

As long as you are connected to a legitimate website and check any transaction before confirming it, you should be fine.

3. If you intend to keep tokens for a long time it's safer to stay away from dex, better to send the tokens to cex exchange, your wallet will be safer this way.

The safest way to store your coins for long time is to store them in an offline wallet. You should avoid storing on centralized exchanges at all costs.

[suzanne5223]

To be honest with you. On the internet, nothing is safer especially when it has to do with crypto but it is the user that needs to have adequate knowledge of avoiding human error to keep herself safe.
It's sad the Op didn't mention the DEX name but there's no way you'll choose the wrong DEX and don't expect some foul play.
This is the reason why it is important to understand the honesty of a platform before using it and this is what some gamblers don't do and end up being a victim of scam casinos.

[TelolettOm]

Do you think DEX is safer? Here is why I don't

DEX for me is n option for freer exchange when I didn't want to send any of my personal data to to take any KYC and also the exchanges where I commonly find new tokens to trade. But, in my personal thinking also, I still prefer more to CEX and so far, it is okay for me.

It is not only also about the unanimous or not. but CEX commonly offer more security system, moreover the top CEX. although I also don't way about all CEXs, but at least, most of them will try more to make their users more secure enough.

[Pterosaur]

The first time a brother of mine will witness lose of assets in wallet it was through Dex platforms, the funny thing is he never connected to any scam Dex but only use the popular ones through coinmarketcap, till this day it's still a misery but his wallet info says DEX was connected.

[FirmWars]

Centralized exchanges are safer

1. You have someone to blame if fund go missing or the platform get hacked, if the CEX cares about its rep they will pay back.
2. You have to send your asset out yourself without exposing how much you have in your wallet, the only way to lose asset is getting your private key compromised.

With Dex it's a different path, you expose yourself completely by connecting to it's platform, even if the Devs at the back of those Dexs aren't ready to steal your fund they already know your worth.

[Zalmi1000]

In 2021 more Dex are hacked and many contacts are hacked in Dex like uniswap and Pancakeswap which show that Dex is more unsecured than Cex