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Author Topic: decentralized exchanges are safe?  (Read 528 times)
mazda60621
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July 23, 2018, 09:12:53 AM
 #81

yes, they are safe, but the commission is usually higher than on the traditional exchange.
I prefer to simply exchange money on the exchange, but do not store them there

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July 23, 2018, 04:41:39 PM
 #82


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.
This is the goodness of using up DEX where theres no other informations would be asked but only importing your keys and you are good to go. Talking about Forkdelta its just an another fork site of Etherdelta so functions and features would really be still just the same.

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.
No exchange on this world is safe neither a Centralized or Decentralized one,all of them are on risk of hacked. For DEX we do see how a hack works when ED is being compromised and victimized users when it do have a redirecting on such site and being phished out on their keys.

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July 23, 2018, 11:06:21 PM
 #83

DEXes are safer in general, but after the recent hacks things turned out that they are not really decenralized and secured pretty badly.
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July 24, 2018, 09:06:09 AM
 #84

Decentralized exchange is of course very good, but it also has shortcomings. When you have made a transaction, there is no way to cancel or perform other operations. This will cause you to make a wrong transfer or the account is stolen by the hacker and there is no way to recover the loss!

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