decentralized exchanges are safe?

[suchi2591]

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

[Guvn0r]

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.

[otundebis]

Dcentralized exchange that are based on smart contract are very safe!  Smart contract can not be changed which means the moment you execute a trade there is no turning back or manipulation.  Your address lock your trade and it is impossible for your trade to reverse!

[Tytanowy Janusz]

Dcentralized exchange that are based on smart contract are very safe!  Smart contract can not be changed which means the moment you execute a trade there is no turning back or manipulation.  Your address lock your trade and it is impossible for your trade to reverse!

Yes they are safe. Your funds are on your wallet or on your wallet in contract. There is 1 option that you can loose it. Correct me if i'm wrong. When decentralized exchange is hacked code written in contract can be different (instead of exchange funds will be transfer funds to hacker accout). And if you are not able to check if code written in contract is correct than you are not safe.

[maloibtc]

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

[Taki]

Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them. Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.

[mk4]

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.

Yep. Pretty much because probably majority of people use BTC as a primary coin deposit rather than ETH.

And just to add to this, simply because decentralized exchanges are pretty hard to use for now(in my opinion, at least). I vividly remember the first time I used etherdelta. It was an absolute nightmare as the UI/UX was so bad. Hopefully they would improve it.

[Tytanowy Janusz]

Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them. Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.

What a nonsense.

Did you buy account? You have 500 merit and you dont know whats the difference between centralized exchange (like binance, huobi, kukoin etc.) decentralized (etherdelta, forkdelta, ddex, idex) and bank.
Name 1 decentralized exchange that support fiat...

Decentralized exchange is not centralized exchange with decentralized coins...

Dectralized exchange has very little volume what gives huge spread. To buy with good price you need to w8 for days or buy with market price 5-20% higher than on other exchanges. You buy coins there when they are not listed on centralized one or you dont trust those who lists coin you want to buy.

[mk4]

Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them.

Decentralized exchanges doesn't even have fiat pairs. lul

Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.

Ok you definitely don't know what you're talking about. We were talking about decentralized vs centralized crypto exchanges and you're here talking about exchanging money in banks.

[danherbias07]

Well, they dont have the power to exchange it to fiat so most of this decentralized exchange are thru Ethereum.
ERC-20 tokens being exchanged to Ethereum and back.
But remember, when you want to cash out your Ethereum then you will have to go to a centralized one to change it to USD or what else you prefer.
Idex is the most popular by now when it comes to ETH based decentralized exchange since etherdelta changed their CEO and shit happened. 

[BrewMaster]

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.

Yep. Pretty much because probably majority of people use BTC as a primary coin deposit rather than ETH.

And just to add to this, simply because decentralized exchanges are pretty hard to use for now(in my opinion, at least). I vividly remember the first time I used etherdelta. It was an absolute nightmare as the UI/UX was so bad. Hopefully they would improve it.

this is the problem that i have also experienced. all the decentralized exchanges that i have seen are too complicated and not-user-friendly.  there is also a certain level of slowness to them in my experience which doesn't yet compete with the centralized ones where you can make buys and sells in matter of seconds (of course only when there is not a big load on their servers and they are not going down!)

[Tytanowy Janusz]

this is the problem that i have also experienced. all the decentralized exchanges that i have seen are too complicated and not-user-friendly.  there is also a certain level of slowness to them in my experience which doesn't yet compete with the centralized ones where you can make buys and sells in matter of seconds (of course only when there is not a big load on their servers and they are not going down!)

And its not gonna change fast. All your moves on decentralized exchange must be confirmed by blockchain. It cost money and time.

[dothebeats]

Decentralized exchanges are just like your average market - peer-to-peer. Usually these are in the forms of smart contracts and whatnot to ensure the security and stability of the trade that's going on. For me, they are safe to use since no third-party holds the funds for you, just trade and wait for someone to accept the offer then go. Cool stuff, yes, but on bitcoin - crypto exchange, it would be quite hard to implement--though there was one crypto exchange that is fully decentralized but didn't get that much attention.

[btc-facebook]

In crypto , everything still in grey !
It means that you must keep carefull if you decide to keep your fund into exchange but personally I'm not recommend to keep in exchange.

But for trading purpose, as long as you have select the verified exchange, I think it will not be a problem !

[lite]

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

Yes dex are pretty safe, i use them sometimes to get tokens that are not on bigger exchanges. people use centralised exchanges because they have the liquidity, why people don't use dex much is because it doesn't have that liquidity also UI is another problem that needs to be tackled. some projects are working on creating beautiful dex, all i hope they get that liquidity. i think by 2020 we'll be trading on dex.

[renes]

Decentralized exchanges are safer than centralized exchanges, basically what you see on the screen related to exchange is just a front end, other things smart contracts, trading protocols and ethereum blockchain are safe.

[LeGaulois]

Decentralized exchanges are not yet popular because some people can find difficult to use and secondly some of them have a  low volume.
I would say they are safe sure but if it's not popular it's a problem. I think with too many regulations, KYC and so on people will start to realize why DEX can be useful as well privacy coins such as Zencash both will be a winning combo for people seeking to get a real privacy

[Taki]

Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them. Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.

What a nonsense.

Did you buy account? You have 500 merit and you dont know whats the difference between centralized exchange (like binance, huobi, kukoin etc.) decentralized (etherdelta, forkdelta, ddex, idex) and bank.
Name 1 decentralized exchange that support fiat...

Decentralized exchange is not centralized exchange with decentralized coins...

Dectralized exchange has very little volume what gives huge spread. To buy with good price you need to w8 for days or buy with market price 5-20% higher than on other exchanges. You buy coins there when they are not listed on centralized one or you dont trust those who lists coin you want to buy.

Apparently I just didn't get the question, but thank you for explain.
I didn't buy the account if you are interested, I'm on the forum for two years already and those 500 merit I've got automatically, just like everyone on 25th of January. I'm just a girl and I thought that all crypto exchangers are decentralized and centralized is only those that banks suggest. I will search for more on Google and will find out which kind the exchanger that I use, YoBit and Livecoin,but from the thread it's, already clear to me why people prefer decentralized exchangers.

Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them.

Decentralized exchanges doesn't even have fiat pairs. lul

Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.

Ok you definitely don't know what you're talking about. We were talking about decentralized vs centralized crypto exchanges and you're here talking about exchanging money in banks.

Yeah, thanks to previous guy it's clear to me now. We'll, at least I learnt something new today.

[trader34]

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

Because at the moment the centralized ones are way better than the decentralized. You have more options, the possibility to use complex orders, more liquidity... but in the future, I imagine decentralized exchanges will improve and start to be more used.

[Rocktop044]

Most decentralized exchange are based on smart contracts. And only sends back to the wallet that deposited. Using metamask can improve security.