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

[entrepmind23]

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?

So far, I have good experience with IDEX because I was able to do my transactions properly and in a fast way as well. They have a warning beforehand when you execute a transaction preventing you from wasting an ETH for gas when you are not successful with it unlike in etherdelta/forkdelta wherein the orderbook is not updated so there is a time when the transaction did not push through but still they deducted a fee in my account. They wouldn't have a warning as well when you transact causing some newbies to lose great amount of money when they input a buy or sell transaction.

[rickadone]

I have used forkdelta twice and all went good except the waiting for network confirmation and the assets becoming availble for trade.

Yes, what I felt while using decentralized exchange, it has become possible only because of the platform provided my ethererum still we need to move funds into exchange's addy to get ready for trading and for security measurements we cannot use our actual addy to load funds with exchange hence lots of movements are included and if you do not include enough gas then you may enforced to wait to get your transaction included into blocks of etherieum.

If you are trading when ethereum network is over congested then I like to suggest to include more than enough gas for smooth and quicker trading otherwise you may need to wait for days and the bid/offer may not available when you will be ready to trade.

[Jaycee99]

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?

Here is my bad experience and possibly common to other people's/bounty hunters, back in the last I joned a campaign which offers high amount of value but in the end I got pissed of just because of that ICOs value in the crypto market got low and a fact that it was so slow to be listed in an exchange so the story for the reason that there altcoin's value went down is because the first persons who got to invest have the tokens therefore they exchanged it and therefore value went down.

The moral lesson be ready be wise on picking bounties and still in the end who really know what they gonna do.

And decentralized exchange it is good and helpful to people who understands it.

[Marcel666]

Decentralized exchanges are the gradually taking over the market.
IDEX is one of my favorite. It has an easy to use interface. And you asset security depends solely in you.
You don't need to sign up on the exchange to trade.
No passwords.
Your assets are technically still in your possession.
I think they are the future of exchanges.

[slaman29]

I used to HATE Decentralized exchanges solely because I wasn’t used to them. Now that I’ve traded on numerous ones and gotten more comfortable with it. The thing is, big centralized ones are definitely more convenient for deposits and withdrawals, but other than that nothing is super different.

Then you have never tried to trade one of the pairs on let us say Waves dex haha

Except for Bitcoin of course, you can cry just waiting weeks for your order to fill, if ever. I have some tokens before, that you will be lucky to have more than 2 or 3 orders and the spread between buy and sell is just horrendous. You can even eat up the orders with 0.1 BTC and the price will go crazy. This isn't the direct fault of dex of course, just that so few people use some of them.

[onepiece1995]

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 think the exchange of decentralized exchanges might replace it. but we will never know when that time will come, but with the passage of time and many things like that then it does not rule out the possibility that decentralized exchanges will succeed .

[fibrolit]

I have both good and bad impressions of working with decentralized exchanges. Good-a lot of new tokens appear there,on centralized exchanges there is simply no possibility to add dozens of new tokens monthly. Bad - very slow placing orders and token in the exchange, great Commission when you trade.

[Conasse]

The only thing stopping to use it is the low volume traded. usually people want their trade completed asap
Secondly the ones using SEPA, it can be subject to reversal with SEPA and near impossible to prove your case to the banks

[okocrypto]

I have had terrible experience with decentralised exchanges, notable among them is high transaction fees and very complex user interface. Decentralised exchanges are more difficult to use than the centralysed exchanges.

[leowonderful]

Only downside for me is the small orderbook and low volume compared to traditional centralized exchanges, and they sometimes may be less user-friendly compared to the bigger centralized exchanges, but not having to verify yourself to trade is a big upside for me. I do a large portion of my trading on them nowadays; if they could improve on the complexity and make their platforms easier to navigate, volume would definitely rise, but most of them are just somewhat difficult to use if you're starting out. Besides these issues, I've never had major problems with them.

[TheWolf666]

 
I think that this video nailed it, thank for this post. The answer resume it all, must see.

Here again the the video: https://youtu.be/FNQh2hDGMpU?t=832

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?

That is great answer CEO Binance about decentralized exchanges.

time link youtube
https://youtu.be/FNQh2hDGMpU?t=832

[Tory-Tory]

Decentralized exchanges have high significance in crypto-currencies. Now trading on exchanges is more centralized than not. Decentralized exchanges don't have enough big volumes, why large players don't go to it, although these exchanges are safer.