Bitcoin Forum
March 28, 2024, 09:37:33 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 [4] 5 »  All
  Print  
Author Topic: decentralized exchanges are safe?  (Read 523 times)
yohan09
Full Member
***
Offline Offline

Activity: 336
Merit: 100



View Profile
July 17, 2018, 12:30:40 PM
 #61

I think that the question of safety depends on which exchange you mean. I like the one that is called Binance. There are many safe exchanges, which can successfully be used for trading. You should try it if you have never had
There are many exchanges sprouting in social media's but all of us are aiming for security, While the decentralization factor may be appealing, Its not too practical if there's barely anything to trade on an exchange and having to wait a full day for a transaction to complete kinda defeats the whole benefit of the  blockchains speed in moving funds back and forth between currencies and accounts. However it does appear as though the platform has some prospect and could potentially be a great option if it works out the kinks.
1711661853
Hero Member
*
Offline Offline

Posts: 1711661853

View Profile Personal Message (Offline)

Ignore
1711661853
Reply with quote  #2

1711661853
Report to moderator
1711661853
Hero Member
*
Offline Offline

Posts: 1711661853

View Profile Personal Message (Offline)

Ignore
1711661853
Reply with quote  #2

1711661853
Report to moderator
1711661853
Hero Member
*
Offline Offline

Posts: 1711661853

View Profile Personal Message (Offline)

Ignore
1711661853
Reply with quote  #2

1711661853
Report to moderator
Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711661853
Hero Member
*
Offline Offline

Posts: 1711661853

View Profile Personal Message (Offline)

Ignore
1711661853
Reply with quote  #2

1711661853
Report to moderator
1711661853
Hero Member
*
Offline Offline

Posts: 1711661853

View Profile Personal Message (Offline)

Ignore
1711661853
Reply with quote  #2

1711661853
Report to moderator
Reid
Hero Member
*****
Offline Offline

Activity: 2842
Merit: 642


View Profile
July 17, 2018, 12:38:54 PM
 #62

Decentralized.
One example is idex where you could trade tokens as much as you want under the smart contract.

The problem? Not much buyers and sellers out there. Just mere listing it and Voila let it be.

Unlike Binance, equipped with a lot of traders the volume is so high you can sell high amount of tokens.

Problem? They know who you are. Grin
Tynovten_
Full Member
***
Offline Offline

Activity: 420
Merit: 101



View Profile
July 17, 2018, 12:50:03 PM
 #63

So far everything is still fine, when the exhange decentralization by using clever contact then it more make sure which coin will we sell. Sometimes there are many type of coins that same so makes ourself lack of sure of the truth.

1Referee
Legendary
*
Offline Offline

Activity: 2170
Merit: 1427


View Profile
July 17, 2018, 01:01:10 PM
 #64

Unlike Binance, equipped with a lot of traders the volume is so high you can sell high amount of tokens.

Problem? They know who you are. Grin

It's purely hype.

There will be a time where crypto will become like what the stock market is today, and that's exactly when we will see a full force shift from centralized to decentralized exchanges.

People right now are too blinded by greed to understand what dangers and risks they expose themselves to on centralized exchanges. Let them nurse their greed as much as they want right now, the market is still relatively free from proper regulations; once regulations form a strong barrier around exchanges people will start to ask themselves why they are allowing themselves to go through all this when they can avoid all that in a decentralized manner.

Dumb money today still uses exchanges. Smart money massively jumped into OTC trades.
posi
Hero Member
*****
Offline Offline

Activity: 2240
Merit: 579


Degens.bet - On-chain 1000x Futures


View Profile
July 17, 2018, 10:19:28 PM
 #65


Decentralized exchanges are safe but not all are that safe abd with what I'm seeing most of all the crypto currency exchange we have this days are not decentralized because most of them have to abide with rules and regulations of the country they operate.

.DEGENS.BET.     ████████████████
     ████████████████
██████████████████████████
██   ████████████████   ██
███  ████████████████  ███
 ▀██████████████████████▀
   ▀▀████████████████▀▀
      ▀████████████▀
         ████████
        ▄▄██████▄▄
      ██████████████
    ██████████████████
      ██
      ██
  ██  ██  ██       ██
    █████████████████
█████████████████  ██  ██
                 ██████
                   ██
           ██
           ██
       ██  ██  ██
         ██████
           ██
      ██
    ██████
  ██  ██  ███████████
      █████████████████
█████████████████  ██  ██
                   ██
                   ██
           ██
         ██████
       ██  ██  ██
           ██
           ██
..TRADE NOW..
GreatArkansas
Legendary
*
Offline Offline

Activity: 2268
Merit: 1344


Buy/Sell crypto at BestChange


View Profile WWW
July 17, 2018, 10:21:07 PM
 #66

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?
Yes, it is safe as long as you will not use your private key logging in on their website, use Metamask, because there are some exchange that have key logger, so beware to enter your private keys on those website. Always use metamask, and decentralized exchange is the best.

.BEST..CHANGE.███████████████
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
███████████████
..BUY/ SELL CRYPTO..
marsmyname
Member
**
Offline Offline

Activity: 332
Merit: 12


View Profile
July 21, 2018, 04:56:53 AM
 #67

I do not understand with your statement, what do you mean?
please explain and other members will respond well  Cheesy
Almost all the exchanges here are safe and for our security we choose highly rate and best recommended exchanges through which we can sell and use it in trading process with safety. Exchanges like Binance, Bitrex and Coinbase and responsive and safer for traders but this is for our own security besides which many other are also safe and of no problem which are also okay.

shoreno
Full Member
***
Offline Offline

Activity: 1750
Merit: 118


View Profile
July 21, 2018, 05:10:02 AM
 #68

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?
Yes, it is safe as long as you will not use your private key logging in on their website, use Metamask, because there are some exchange that have key logger, so beware to enter your private keys on those website. Always use metamask, and decentralized exchange is the best.

Im using private key to use decentralized exchange such as ed and so far i did not ever experienced to get scammed , therfor i can say that using a decentralize exchange is pretty safe as long as you know that they are legit . you cant get scammed or experienced any other unwanted problems as long as you know what you are doing , you need to be smart and vigilant on whatever you do online because being online is not safe at all times .
racingboy
Newbie
*
Offline Offline

Activity: 126
Merit: 0


View Profile
July 21, 2018, 06:48:59 AM
 #69

There are many reasons why traders choose Centralized Exchanges
one of the important reason is liquidity. there are still few who uses
DExs, and DExs only have ETH pairs unlike CExs.
zanjerbits
Copper Member
Jr. Member
*
Offline Offline

Activity: 154
Merit: 2


View Profile WWW
July 21, 2018, 07:04:33 AM
 #70

I remember theres a hacking issue in etherdelta it means even decentralise exchange is not safe, do not put all your coin in one exchange as a precaution. you can also save your other coin in your own bitcoin wallet do not use other wallet always use its own wallet

CRYZEN.COM | CRYPTOCURRENCY ALGORITHMIC TRADING PLATFORM
⚫ Presale starts September 1st, 2018  ⚫
arafat222
Jr. Member
*
Offline Offline

Activity: 157
Merit: 1


View Profile
July 21, 2018, 07:23:41 AM
 #71

decentralized exchange are very safe for eth base exchange many people are use now and trade this kind of exchange
Tamilson
Hero Member
*****
Offline Offline

Activity: 1022
Merit: 503



View Profile
July 21, 2018, 07:42:16 AM
 #72

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?

The reason people choose to trade in centralized exchange is because of high trading volume and they doesn't want to import their private keys. As we knew the fact that if we import our private keys there's a chance that if the trading sites gets compromise as so with our keys as it's already in their system and even if you click the forget account, it's still at risk.

However, some choose decentralized because of there's no need to go through kyc which is really annoying.

Happy Coding Life Smiley
Agapelove
Member
**
Offline Offline

Activity: 425
Merit: 10


View Profile
July 21, 2018, 08:30:04 AM
 #73

DEX or decentralized exchanges are SAFE. Why? First, DEX manages cryptocurrency trading using a distributed ledger that gives control to the users and transaction are transparent to all. This will a cause a decrease in error and fraud. Though, there are shortcoming with DEX as of the present, but for sure they can be eliminated sooner.
big_bankir
Newbie
*
Offline Offline

Activity: 102
Merit: 0


View Profile
July 22, 2018, 11:18:22 PM
 #74

Decentralized exchanges are the safest exchanges, because no one else can use your crypto currency. It's strange why most people prefer centralized services.
CASTIEL05
Member
**
Offline Offline

Activity: 560
Merit: 13


View Profile
July 22, 2018, 11:41:27 PM
 #75

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?

Decentralized exchanges are mostly based on ethereum and eth tokens. People prefer the usual ones like poloniex or binance because they have a lot more different markets to chose from. Decentralized exchanges are more safer in my opinion because there is no intermediary and all works based on smart contracts. There are many famous ones like etherdelta and I recently saw a new one called airswap. As always, do your research before sending your coins/token to an exchange.
I agree with you. A lot of decentralized exchanges I encountered that alligned in ethereum blockchain. And I know that ethereum blockchain is immutable and safe from attacks. However, there are DEX which are not safe and sometimes, they are victim of hacks and result for stealing of funds of the traders. But still there are DEX  which are good to use.

dankboner83
Newbie
*
Offline Offline

Activity: 77
Merit: 0


View Profile
July 22, 2018, 11:46:35 PM
 #76

I dont agree they are safe at all.
I have so many bad experience with decentralized exchanges. Most of them take longer time to load the platform and not sure why they have more maintainance schedules. And when that happens, I wont be able to withdraw.
I always have problems with withdrawing coins from decentralized exchanges (except for bisq, its a good one). My coins usually get stuck for days on the blockchain.  Huh
jho0810
Jr. Member
*
Offline Offline

Activity: 213
Merit: 1


View Profile
July 22, 2018, 11:55:47 PM
 #77

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?
I think it's safe as long you not give your private key or not store your wallet  all the time to that decentralized exchange.  That's why we need a extra careful if trade in decentralized exchange always choose the good one that you know it's proven and trusted.

https://usdq.platinum.fund/
Platinum QDAO StableCoins: USDQ KRWQ CNYQ JPYQ
█▀  $1MLN BOUNTY POOL  ///JOIN///  ▀█
Nhebu
Member
**
Offline Offline

Activity: 616
Merit: 10


View Profile
July 22, 2018, 11:58:05 PM
 #78

Are they safe, If decentralized exchanges are good then why ppl are using centralized exchanges?
Probably yes, but we cannot depend to the decentralized exchanges since there are hacks event that happened before. What we need to do is stock our coins from our wallet and use only Decentralized exchanges when we needed. I don't know the reason why there is a centralized exchange but for me, I will rather choose Dex than centralized exchange because there is a manipulation in centralized.
cabron
Hero Member
*****
Offline Offline

Activity: 2772
Merit: 595


https://www.betcoin.ag


View Profile WWW
July 23, 2018, 04:21:42 AM
 #79


After I have tried it and it asked no phone number and I got private keys with me, I think dex are much safer than those centralized one like binance. No KYC and all. I just don't know about its security like the penetration from hackers. Forkdelta was the first I've tried since etherdelta isn't just working for me because you have to enter your private keys there from which is your personal wallet.

ukboss
Full Member
***
Offline Offline

Activity: 742
Merit: 100


View Profile WWW
July 23, 2018, 07:59:08 AM
 #80

I think no exchanges are safe because binance is a world best exchange and in a couple of years ago binance was the hack but still, now binance is safe, 2nd time it is not hacked. Most of the people know in this online industry there is too many exchange hack. In a couple of months ago, etherdelta was the hack so no one exchanges are safe in this online market.
Pages: « 1 2 3 [4] 5 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!