Decentralized exchanges

[Kristine_R02]

For the beginner could I trade in the decentralized exchange? I actually don't know what decentralized exchanges to use. Is it worth to pay my attention to it? Or just trade in like bitfinex and don't waste my time? Thank you

[1714969316]

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[1714969316]

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[Mirae]

well the only decentralized exchange i have used is https://wallet.crypto-bridge.org/ and i had a lot of problems with my deposits because of some daemon problems they said, i needed to wait like a week before i got my deposit into my account = lost money so i am not touching any decentralized exchanges for some time.
They are the future, but not the current.
I would just go with binance if i were you tbh

[AdolfinWolf]

well the only decentralized exchange i have used is https://wallet.crypto-bridge.org/ and i had a lot of problems with my deposits because of some daemon problems they said, i needed to wait like a week before i got my deposit into my account = lost money so i am not touching any decentralized exchanges for some time.
They are the future, but not the current.
I would just go with binance if i were you tbh

Yep. For normal bitcoin -> altcoin trades, i would definitely use Binance. The DEX out there are simply too wonky for me.

However i do know that there are some decent decentralized exchanges out there if you want to trade Ethereum -> ERC20 tokens.
(I think (https://coinmarketcap.com/exchanges/forkdelta/) is the most popular one?) Or https://coinmarketcap.com/exchanges/idex/ ? I'm not exactly an expert on these, so i might be wrong.

They're especially useful if you want to trade relatively unknown tokens. Otherwise, i'd stick to binance for now, until they themselves release their DEX..

[KingScorpio]

For the beginner could I trade in the decentralized exchange? I actually don't know what decentralized exchanges to use. Is it worth to pay my attention to it? Or just trade in like bitfinex and don't waste my time? Thank you

waves dex is an older one and more developed dex, dex are in general much better and safer to use.

[LeGaulois]

And to add to @KingScorpio DEX won't bother you with ID verification, proof of address, and sometimes selfies... An advantage that people may need. People tend to think it's difficult to use but it isn't. It depends on the ratio privacy/KYC you are ready to accept.

[Davil]

...i do know that there are some decent decentralized exchanges out there if you want to trade Ethereum -> ERC20 tokens.
(I think (https://coinmarketcap.com/exchanges/forkdelta/) is the most popular one?) Or https://coinmarketcap.com/exchanges/idex/ ? I'm not exactly an expert on these, so i might be wrong.

They're especially useful if you want to trade relatively unknown tokens. Otherwise, i'd stick to binance for now, until they themselves release their DEX..

Indeed, if what you're looking for are DEX for ERC tokens, Forkdelta (formerly Etherdelta) and IDEX seem to be the best options out there. I've used both and they're really easy to use, with seamless transactions (depending on the state of Ethereum's blockchain they may take a bit longer to go through, but in the worst case they'll be rejected and you'll get your tokens back).

I haven't used any DEX for coins but I think bisq may be a good one (as I've read about it in several places) and, anyone knows? maybe OpenBazaar's marketplace?

[Alluro]

You don't have to do anything special things to trade with decentralized exchanges. You can find decentralized exchanges are better than centralized exchanges. Because the exchange wallet private keys own by yourself, you don't need to submit KYC documents and you can make trades without limits.

[Kemarit]

For the beginner could I trade in the decentralized exchange? I actually don't know what decentralized exchanges to use. Is it worth to pay my attention to it? Or just trade in like bitfinex and don't waste my time? Thank you

You may want to visit this thread to get a good grasp, List of Decentralized/Centralized Exchanges.  The pros and cons of using a Centralized vs Decentralized exchange have been laid out nicely so I'm sure that most of your questions can be answered by reading that thread.