why there is so much fuss about decentralized exchanges

[biznes35]

Decentralization of exchanges is a fraud. Any developer of the project can hack the exchange. This is not complicated.

[joinfree]

I think the reason why people are anxious of the development of decentralized exchanges is the ability of people being in control of their own private keys. For instance in case where a decentralized exchange is hacked and i have logged out of the platform my wallet would not be hacked but with centralized exchanges once the platform is hacked anybody who has any funds on their platform also loses money unless the thieves decide to go for BTC and leave the altcoins.

[setialovers]

Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked    

I think Decentralized exchanges will be the future because people dont have to provide KYC. Perhaps DEX like cryptobridge need KYC for US Customer but its only for US but not for many country

[rdewilde]

Security of assets and most importantly personal data as decentralized exchanges don't ask for KYC. These are the reason why I think most people always prefer it over centralized exchanges.

[Ben Shedly]

Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked    

No one hacks decentralized exchanges. Because money is not stored in the same wallet of the exchange, and they are on the wallets of the bidders. Therefore, it is impossible to hack a decentralized exchange as well as a centralized exchange.

[irixo10]

Where ones assets or funds is, there will his heart be. Most people or investors prefer decentralized exchanges because it is free from tasking KYC processes as well as cyber threats. So people trade there knowing they are safe.

[binhvo1505]

Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked    

The decentralized market is difficult for regulatory agencies and blockchain technology to still have many shortcomings that can best protect the account.
Blockchain technology needs to be improved over the next few years so that large businesses can use it.
Exchange in a decentralized market is always at risk because there is no government intervention.

[Gab20]

We ought to compare the ratio between hacked centralized exchanges to those of decentralised exchanges, which I think will give us a reasonable conclusion on which is safer.
I have always used decentralized exchanges and despite all I have heard people said, I have not had any issue with them, but I believe our individual experiences and not about what people are saying should help us make decisions on which to use and which not to use.

[naska21]

From where I sit... one of these DEX salient features is the high level of their independence from regulatory actions, which are against  structural change and technological innovation in financial sector. In that sector  there is a high probability that strong official institution  may acquire a dominant position when disputing about crypto  and as result  restrict centralized  exchanges to  obligations that serve government needs. DEXs are design  to be immune to that.

[cunguks]

Where ones assets or funds is, there will his heart be. Most people or investors prefer decentralized exchanges because it is free from tasking KYC processes as well as cyber threats. So people trade there knowing they are safe.

but all the exchanges I think are good, but for decentralized exchanges it sometimes becomes insecure because the access process using personal wallets can be stolen by the exchange if they commit fraud. we have to be more careful not to get cheated.

[Danslip]

The fuss is intentionally created by whales and dumb developers. They never want to see a real development behind the decentralized exchanges so they can continue to do their shady job.

[tins]

Should give time to how products like Dapp or DEX gradually become better. As before, many banks around the world were stolen money by hackers, and gradually everything became safer after banks defended from hackers.

[UniversityCoin]

They may hack one or several wallets, however, each user has his own wallet and hack absolutely all users is very problematic. Therefore, decentralized exchanges are more resistant to hacker attacks than centralized ones.

[miklesm]

The goal of all decentralized exchanges is to make funds of the users inaccessible to hackers. There are too many news about hacking centralize exchanges, so people are waiting for working DEXs like Binance DEX to feel their funds are in safe.

[Ifychuks]

Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked    

I see every and each exchange in the cryptocurrency community very liable to hack. All one need do is to be careful whether using centralised or decentralised exchanges.

[Mommynigabby]

Personally I think it comes with the territory. Its like saying Bitcoin is better than fiat. Cryptos are decentralized and that's why we also promote decentralized exchange. It's funny though that the leading exchanges we have now are the centralized ones.

[emberbekas]

Personally I think it comes with the territory. Its like saying Bitcoin is better than fiat. Cryptos are decentralized and that's why we also promote decentralized exchange. It's funny though that the leading exchanges we have now are the centralized ones.

I think the fuss about decentralized exchange comes when there are many bad things in regards with centralized exchange especially after some exchanges got hacked. People start to search for the better type of exchange to avoid such hack stuffs and things.

[Rimueng tuha]

In my opinion, hacking can still occur anywhere in both the decentralized system and the centralized system. I only think that if indeed a decentralized system experiences many problems, especially the problem of price stability, it is better for crypto currencies to be made with a centralized system. I am sure that a centralized system will increase the level of trust of investors. Investors do not need to worry and are hesitant about hacking because everything is set up with a centralized system. Only one party will control the movement of the crypto currency.

[StatesManG]

Seriously that's the question, if dex can be hacked too, then we are not still safe. Buti believe that there is a way which the hack can be minimized

[trash321]

Probably the whole thing is solely to use just a decentralized exchange today. I see that there are very big opportunities to use it, namely, decentralization should use this, because this is clearly our future.