XCryptoFund (OP)
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July 12, 2018, 09:19:31 AM Merited by KeyGenKing (2) |
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Hello guys, hope you are doing well  With the rise of ICOs and new projects working on Decentralized exchanges (DEX) and raising millions, I'm wondered how people in the crypto community perceive it and why a lot prefers DEX rather than centralized exchanges. Indeed we have seen many interesting projects with hype, such as IDEX, Waves or Stellar, and some looks really promising like NEONEX. Decentralized Vs Centralized exchanges: Where do you stand? And why? |
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KeyGenKing
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July 12, 2018, 10:10:43 AM |
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Decentralised exchanges are the only logical way of protecting peoples decentralized assets.
There is not much more too it besides the creation, testing and assurances that they work before everything that is traded are run over a DEX for all the reasons we know why.
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googs84
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July 12, 2018, 10:15:54 AM |
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I guess this topic should be moved to Trading Discussion . .
Decentralised exchanges are like free tickets to scams and you may loose your money over these tiny volume gainers. They raise millions because people are a lot and they put their money over there but what about the benefits of investors?
These mostly end up with dead volumes, no trading order gets filled fast as long as it is unique project or overhyped one.
May be centralised are best in terms of your security and safety too. You dont have to share the private keys here where decentralised one may ask for it.
Choose wisely.
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Rath_
aka BitCryptex
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July 12, 2018, 10:22:26 AM |
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Decentralized exchanges are certainly a future of cryptocurrency trading (along with atomic swaps), but they are not perfect. Recently, one of the most popular decentralized exchanges was hacked. However, it doesn't discourage me from trying them out. Bisq seems to be the most reasonable choice right now. Users prefer to use exchanges which are easy to use and support a huge variety of altcoins and tokens. Decentralized exchanges are still not completely noob friendly thus they won't gain a lot of attention in the coming months. |
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katri
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July 12, 2018, 10:30:21 AM |
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I prefer for centralized where the government have direct participation on the new projects that would come in. Exchanges should be under the regulation of the government to protect the interest of the investors. The government should give approval to the exchanges prior they operate in their business.
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agentdavid007
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July 12, 2018, 11:47:01 AM |
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Centralized because you have advanced features and tools, it is easier to use and liquidity.
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mu_enrico
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July 12, 2018, 12:00:16 PM |
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From my experience of using both, I still prefer centralized exchange because it's easier. Furthermore, I got butthurt robbed because of fees when I cancel my buy/sell order on DEX.
I cannot see decentralized exchanges will ever replace centralized exchanges without a big improvement in user experience and cost.
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buwaytress
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July 12, 2018, 12:10:50 PM |
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I guess this topic should be moved to Trading Discussion . .
Decentralised exchanges are like free tickets to scams and you may loose your money over these tiny volume gainers. They raise millions because people are a lot and they put their money over there but what about the benefits of investors?
These mostly end up with dead volumes, no trading order gets filled fast as long as it is unique project or overhyped one.
May be centralised are best in terms of your security and safety too. You dont have to share the private keys here where decentralised one may ask for it.
Choose wisely.
Not sure what you're on, mate but last I checked centralised anything doesn't give you any control of your private keys. How could they? You need to keep your funds with them. Show me one centralised exchange where you own yout private keys. And while you're at it, show me a dex that asks for your private keys. I'd really like to know yout sources! |
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Cryptogangbang
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July 12, 2018, 01:24:45 PM |
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The best thing about decentralized exchanges is that they are a weed. One that cant be stopped lol. So its best off that every coin, token, commodity, asset, title are all at least covered by one DEX. The only exchanges that the people run and not the governments imho.
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Saint1990
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July 12, 2018, 01:47:25 PM |
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If you check recent history Centralized exchanges are prone to hacking, see case of Bancor which claims to be decentralized but its centralized in many ways, Coinrail, Bithumb double hack, binance security and API breaches. Also the listing fees of the centralized exchange are higher than the stock market listing fees  . On the hand decentralized exchange are safest exchange and cannot be hacked as user holds the private keys. Its the right time to give more preferences to the decentralized exchanges now, this will help moto of cryptocurrencies decentralized nature. Decentralized exchanges have liquidity problems, if more people will use Decentralized exchange liquidity problem will be solved. |
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yigga
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July 12, 2018, 01:53:04 PM |
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Most of have some doubt Decentralized Vs Centralized Exchanges, They used both exchanges but they don't know is it DEX or Centralized one, Most of are now DEX because no need any personal details and It is worked for any country some country have restriction most of the centralized exchanges therefor most of are prefer DEX , Some other reason is minimum trading cost, Now IDEX is most popular DEX, Disadvantages is sometimes law volume and security issues
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loveblack
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July 12, 2018, 02:31:18 PM |
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the centralized exchange is a huge monster . it holds our money . this is too scary . this is not in line with the spirit of bitcoin . if it has security holes , this is affecting many people .
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Direwolve735
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July 12, 2018, 02:37:00 PM |
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I believe that decentralized exchanges are a new stage in the development of the digital economy. The funds remain under the control of the owner, the level of his security is increasing, and confidence in the process of digital assets trading and the industry as a whole is growing.
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tutorroma
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July 12, 2018, 03:30:09 PM |
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I think decentralized exchanges will become the mainstream of the future, which will enable people to have more control over their coins. If you put your coins in Centralized Exchanges, it is very unsafe.
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zeingrind777
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July 12, 2018, 03:36:26 PM |
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For me personally, both are the same, but I prefer to trade in a decentralized exchange because it is not complicated and can do multiple accounts
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LeGaulois
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July 12, 2018, 03:48:02 PM |
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The average Joe doesn't find decentralized exchanges really user-friendly and find it difficult to use. With the regulations increasing people should take a look on DEX more closely because in some years they may be more used that centralized exchanges May be centralised are best in terms of your security and safety too.
Most of the popular exchanges have been hacked once and surely more than the DEXs so I am not sure if it's right to say centralized are the best in terms of security... |
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ismelda_ita
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July 12, 2018, 03:57:29 PM |
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I stand on a decentralized exchange because DEX usually has a cheap fee and its usage is very easy. other than that decentralized exchanges also have no authority in it
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BrewMaster
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July 12, 2018, 04:12:47 PM |
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it is all about the control. using a decentralized exchange you are mostly in control of your funds and the risks of losing them are minimal. also you do not have to trust a third party with your money since you give up that control using centralized exchanges.
the reason for the hype is that there has been many centralized exchange hacks in the past that has made people uneasy to work with any of them.
there is another hype that should be confused with the one i mentioned and that is the hype of the tokens like Wave,... that is for trading purposes and making profit from their pump and dumps.
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There is a FOMO brewing...
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ikicha
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July 12, 2018, 04:21:09 PM |
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Same as my thread before.
Main point is : We use cryptocurrency because we hate Centralized, but why we use Centralized Exchanger to save money? Why we use centralized to store decentralized money?
But, decentralized exchanger have bad issue, like etherdelta
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XCryptoFund (OP)
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July 12, 2018, 04:29:44 PM |
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Thanks for your answer guys, really enriching! it is all about the control. using a decentralized exchange you are mostly in control of your funds and the risks of losing them are minimal. also you do not have to trust a third party with your money since you give up that control using centralized exchanges.
the reason for the hype is that there has been many centralized exchange hacks in the past that has made people uneasy to work with any of them.
there is another hype that should be confused with the one i mentioned and that is the hype of the tokens like Wave,... that is for trading purposes and making profit from their pump and dumps.
I totally agree with you! I also think that we will see appears in the upcoming years (months?) the launch of a huge DEX, which will completely solve this matter of security. But it's clear that for now, DEX are not newbie friendly at all! And it's true, who can boast today that it was easy to understand how to trade on EtherDelta. |
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