Decentralized Exchanges

[StatesManG]

Nice one and such an  quality time devoted to set it all up. I really dont like some of this Dex because of its lapses and UI after using ddex I loved it's work and my first ever Dex to use

[1715368198]

1715368198

[stoat]

best one is Forkdelta

[e@symode]

Decentralized exchanges are nice, but I think that now all this will definitely seem like a dummy, because now there is one exchange that can call itself decentralized, this is probably forkdelta and that's it.

[necromastery]

From those many kind decentralized exchanges, what is famous to me is forkdelta, etherdelta and Idex. And also Idex has a larger volume than others in my opinion. Unfortunately Idex is not as usual, to sell tokens there, that token must be listed first.

[jcmansah7]

There are so many Decentralize Exchange and I have some question with the exchange like this. Is there any chance that the crypto being deposited will be hi jack and taken out from the hacker just like what centralized exchanges had been experiencing into? THere are hi jacking happens on some centralized exchange so if the decentralized exchange will not be easily hijack then decentralized exchange is the future of crypto exchanges.

If you read the news very well in the 2017 years, you could have noticed that etherdelta was hijacked for several times. This was done by hijacking the exchanges domain and send users to their fake etherdelta site. This is why metamask was and is used by many people who use these decentralized exchanges because with that if your funds are sent to a hacker's site, you lose only those tokens but if you log in with your private keys to the fake site, the hacker gets access to the rest of your tokens to steal all of them.(That's when you log in to a fake decentralized exchange)

[laskybok]

Posts like this are not meant to be neglected, but bookmarked for future reference. Thanks OP for this carefully written post. The essence of cryptocurrency is decentralization, which is why decentralized exchanges are very important for security reasons and other reasons that might be attached to it.

[Mianae]

I for one like using Dex hne I came into cryptocurrency newly, I missed out on a lot of coins because I wasn't conversant with Idex most especially but since I started using it, I've moved to forkdelta. I think bancor is the easiest to use due to the instant liquidity. Another disadvantage of Dex is its low liquidity CEX has more liquidity than Dex making Dex hard to use most times.

[Barabulya]

A real breakthrough in the cryptocurrency industry would be the emergence of a truly decentralized exchange with atomic swaps. This would solve the problem of centralization and total control by the regulator.

[temilade200]

Decentralized exchanges are nice, but I think that now all this will definitely seem like a dummy, because now there is one exchange that can call itself decentralized, this is probably forkdelta and that's it.

You might be right, because decentralized exchanges do not use API, they do not use bots to trade. So you will not be able able see buying and sell orders running in between, without any real trader coming in place.
I once used a decentralized exchange, that has no real volume, yet it is stated on marketcap sites that has got a lot.
You would also need to look into others, to see that some still have better interface than folkdelta and volumes are gradually rising.

[Denreal]

best one is Forkdelta

I guess you are more exposed  to Folkdelta than others. I have used both Folkdelta and IDEX, but i will always choose IDEX over it, because of more volume.
Apart from volume, almost all DEXes have the same user experience.

[BitTraderCute]

best one is Forkdelta

I guess you are more exposed  to Folkdelta than others. I have used both Folkdelta and IDEX, but i will always choose IDEX over it, because of more volume.
Apart from volume, almost all DEXes have the same user experience.

First of all I agree - I also prefer IDEX over Forkdelta.
However as far as I know, there's one big difference between Forkdelta and IDEX... In order to trade a crypto-asset on IDEX it has to be listed (for free) while Forkdelta offers the opportunity to trade any ERC20-Token just by using the Contract-Address instead of the Token-Symbol - of course it's also possible to get the token listed regularly (for free).

E.g.

https://forkdelta.app/#!/trade/[INSERT-CONTRACT-ADDRESS-AND-REMOVE-BRACKETS]-ETH

and now appear new decentralized exchanges.maybe we ever heard about ethershift, i think it will be good decentalized exchanges with its feature.and also it have loyalty program for their token holder.

[snisps]

Everything decentralized is great. I've switched towards decentralized applications since they started getting more popular, I use OpenBazaar quite a lot, Sylo for communication with my bussines clients, IDEX for my crypto needs. At start it's quite hard to get used after using common applications daily, but for my privacy I prefer decentralized applications over those that can be hacked/misused.

[Classica35]

After an exposure of this nature to decentralized exchanges, I am beginning to it it more consideration. than the use of some centralized exchanges that I do not trust. The issue of security is very essential. Not just the security of personal funds, but also the security of my personal data. Most centralized exchanges ask for kyc, which I am not always comfortable with.

[clipman77]

I think that we do not need so many decentralized exchanges, because there is no benefit from this, liquidity is blurred over them, we need one big one with good liquidity.

[ElenaN]

Thanks to the author of a great, very interesting post, I honestly did not know that these exchanges have such a story!

[Yatsan]

From those many kind decentralized exchanges, what is famous to me is forkdelta, etherdelta and Idex. And also Idex has a larger volume than others in my opinion. Unfortunately Idex is not as usual, to sell tokens there, that token must be listed first.

I am using IDEX on selling my bounty tokens if available why? because there are more marketcap on IDEX than other decentralized exchanges. Indeed decentralized exchanges are more secure than centralized since you are in full control of your coins even inside the exchange. But remember not all decentralized exchange are advantageous.

[Bonwin]

I think that we do not need so many decentralized exchanges, because there is no benefit from this, liquidity is blurred over them, we need one big one with good liquidity.

If we can have one with enough liquidity, that will be able to cater for so much trades, then there might be a great shift from centralized exchanges to decentralized exhanges although CEX will still be in use for some reasons.
Another impact it would have, is that other decentralized exchanges will be positively influenced.

[DominickA86]

I prefer to trade on DEX and I believe that this is going to be a next trend, because people are now more likely to have full control over their funds and I think they have their legal right to do that. Moreover I do not like the idea that exchanges have a full control of so much crypto.

[LeetPoolsOP]

After an exposure of this nature to decentralized exchanges, I am beginning to it it more consideration. than the use of some centralized exchanges that I do not trust. The issue of security is very essential. Not just the security of personal funds, but also the security of my personal data. Most centralized exchanges ask for kyc, which I am not always comfortable with.

this is not convenient only for those who have not quite clean money. if you bought your crypto in a legal way or earned it, what is the problem to go through this procedure?

[travwill]

I prefer to trade on DEX and I believe that this is going to be a next trend, because people are now more likely to have full control over their funds and I think they have their legal right to do that. Moreover I do not like the idea that exchanges have a full control of so much crypto.

I agree that these are the main advantages of decentralized exchanges, and I myself love them for it, however, people also need liquidity, and they need it much more than control. That liquidity is one of the most unsolved at the moment, the problems of decentralized exchanges.