What do you think about the decentralized exchanges? Any good or bad experience?

[TheWolf666]

https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/


What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?

[aleksnutis]

https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/


What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?

I love decentralized exchanges and I believe that they are the future. They should be used in crypto-currencies because crypto-currencies and centralized exchanges are incompatible. The only reason that decentralized exchanges are not so popular is the volume of trades.

[zcooipo]

The biggest benefit of diversified trading is that it won't go bankrupt because of coin losses or scams, and the benefit of centralized trading is that you can maximize your profits!

[jossiel]

What do you think about the decentralized exchanges?

Cryptocurrency exchanges should be decentralized, we are using decentralized cryptocurrencies so using a decentralized exchange is very applicable.

Any good or bad experience to share?

So far I had good experience and never felt that I'm unsafe and uncomfortable.

Are they going to replace the centralized exchange in the future?

I think so and this is why Binance is developing it.
Binance Offers First Look At Planned Decentralized Crypto Exchange

[TheWolf666]

But how Binance will make money, if it is decentralized?

What do you think about the decentralized exchanges?

Cryptocurrency exchanges should be decentralized, we are using decentralized cryptocurrencies so using a decentralized exchange is very applicable.

Any good or bad experience to share?

So far I had good experience and never felt that I'm unsafe and uncomfortable.

Are they going to replace the centralized exchange in the future?

I think so and this is why Binance is developing it.
Binance Offers First Look At Planned Decentralized Crypto Exchange

[AngelSky]

https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/


What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?

Decentralised medium is the best way to evolve with your bitcoin or any other cryptocurrencies. Please be patient and invest the better fund on trading playform that too invest on good coins you will be able to make decent money as a income.

Centralized coins will not good for investment and this form of exchange also not good.

[rachellee]

What do you think about the decentralized exchanges?

I prefer trading on decentralized exchanges rather than on centralized ones, because I have the full control over my traded assets there. It gives the traders the power to run their own funds, unlike with centralized exchanges. Also, the fees is pretty competitive on DEX than that of the centralized ones. It's also more secured to trade there, because I own the key to my entry and exit, unlike with centralized exchanges which keep your deposited assets in their assigned wallets. Centralized exchanges also are prone to bankcruptcy. Many exchanges of such type closed after alleged claims of hacking (which we really do not know how true), where the pitiful traders didn't get the chance to withdraw their funds anymore. Afterall, the very heart of cryptocurrency is decentralization, so it shouldn't live under the helmet of centralized exchanges.

[HSRP]

I see any trading floor. Each trading platform has its own features and features. It gives the community absolute trust. Just meet the user requirements, it is fast transaction, limited transaction fees. This is what most investors want. The trading floor has been doing well.

[bartolo]

But how Binance will make money, if it is decentralized?

With the trading fees. Decentralized exchanges, like centralized exchanges, charge trading fees to both makers and takers. Surely the profits they will get with this exchange will be lower than those they currently get with their centralized exchange, but it will still be quite profitable since in the near future there will be a great demand for decentralized exchanges and Binance, thanks to its name and user base, will attract a large amount of users.

[TheWolf666]

I have been checking https://bisq.network/ but they remove currencies that have low traffic.
What the point then? These exchanges are the obvious choices for the ones who cannot be listed on Binance.
Choosing the coin that can be listed or not, is not what I would call decentralized management!

But how Binance will make money, if it is decentralized?

With the trading fees. Decentralized exchanges, like centralized exchanges, charge trading fees to both makers and takers. Surely the profits they will get with this exchange will be lower than those they currently get with their centralized exchange, but it will still be quite profitable since in the near future there will be a great demand for decentralized exchanges and Binance, thanks to its name and user base, will attract a large amount of users.

[mostkey]

When referring to decentralized Bitcoin, it must also be decentralized to be more secure as well as other Bitcoin and cryptocurrency, of course, most of me do not like centralized controls such as banks that charge more and different interest rates.

This is a very advanced breakthrough for the future taking full control of the value of our assets, preventing fraud, I don't have a big problem with centralized exchange, decentralized exchange is really needed for a more real and decentralized future.

[Semedojunior60]

Decentralized exchange is what is required in these current market. It is safer and better to trade on.

[buwaytress]

I've tried several now and in general they're really not that much different from using a centralised exchange, except for the very obvious lack of liquidity (thin orderbooks) and slim market ranges.

Some I've tried are probably really not worth the trouble for people to learn (counterparty for example) while others have been quite pleasant to use (like Waves).

Mind you, these aren't true Dexs since they force you to use their native asset to pair. They also force you to use their platform or wallet, so if anything goes wrong with their servers or software, you're screwed. Waiting for a true dex where i can stick to Bitcoin and exchange via atomic swaps.

[bartolo]

I have been checking https://bisq.network/ but they remove currencies that have low traffic.
What the point then? These exchanges are the obvious choices for the ones who cannot be listed on Binance.
Choosing the coin that can be listed or not, is not what I would call decentralized management!

Well, that happens in all exchanges, when a coin or token has no volume they remove it to make room for another one. I think the only exchange where you can trade a token even if it's not listed is etherdelta / forkdelta, as long as you know the contract address of the token.

[jossiel]

But how Binance will make money, if it is decentralized?

It's like the usual way through fees as well.

With the trading fees. Decentralized exchanges, like centralized exchanges, charge trading fees to both makers and takers. Surely the profits they will get with this exchange will be lower than those they currently get with their centralized exchange, but it will still be quite profitable since in the near future there will be a great demand for decentralized exchanges and Binance, thanks to its name and user base, will attract a large amount of users.

He explained it well, binance's CEO sees the future through decentralized trading and he's starting it out.

[Ridwan Fauzi]

If you are a smart person to choose an option, I guess this reason you don't have to consider again to choose a decentralized exchange.

The most obvious benefit to using a decentralized exchange over a centralized one is their "trustless" nature. You are not required to trust the security or honesty of the exchange since the funds are held by you in your personal wallet and not by a third party.

The cryptocurrency concept is decentralized, making you truly guard the assets you have and not entrust your assets to other parties.

[tulezua]

The most obvious benefit of using a decentralized exchange through a centralized location is their "reliable" nature. You do not have to rely on the security or honesty of the conversation because of the money you keep in your wallet, not by the third party.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.

[Binugon]

https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/


What do you think about the decentralized exchanges? Any good or bad experience to share? Are they going to replace the centralized exchange in the future?

Bitcoin is right for this decentralized exchange, so far many people have agreed with Bitcoin that is decentralized because it is viewed from security, efficient and effective, therefore many companies will make decentralized platform services, they will offer several advantages to attract the attention of Cryptocurrency users.

[Showmethebtc]

Most of my investment is decentralized. First of all, I think it is safer, and I always like to look for coins that are different. When I think they are reliable, I will invest immediately!
ETH 30%
ADA 20%
BTM 40%
FT 10%

[slaman29]

The most obvious benefit of using a decentralized exchange through a centralized location is their "reliable" nature. You do not have to rely on the security or honesty of the conversation because of the money you keep in your wallet, not by the third party.
When you exchange not rely on third party, the risk you hacked will be 0. But nothing is absolutely safe.

But if you read the responses above, then you realize that actually you still have to rely on these decentralized exchanges. OK, the great thing and the best thing is that you are in control of your funds. This is something you win with dex over centralized exchanges any day. But dex still host their systems that they control, and you have to rely on that. I am actually a big Waves supporter but on more reading now, it appears that their order books could still be manipulated by Waves if they wanted to, because the software and the server is still controlled by them. I trust them, but if they were true decentralization, they wouldn't require us to trust them.