CEXs & DEXs

[weidex]

Hello guys,

I was wondering what exchange do you use CEXs or DEXs? If CEXs why don't you start using DEXs ?

Leave your opinion.

In the same time check our platform and give us a feedback. It will be highly appreciated ->> https://weidex.market/

[Bitcoin_Arena]

I do use CEXs and other exchanges that are based on atomic swaps. DEXs are annoying currently.

- The problem with most DEXs is the trade volume since very few users use them.
You place an order and it takes 2 or more days to get filled which is very annoying.

- Also the spread of a coin/token price is usually abnormal in DEXs. You discover that most orderbooks have the ASK price of a token having a difference of 50% from the bid price.

- Most DEXs use smart contracts which lead to higher trading fees compared to traditional CEXs like Binance
For example Etherdelta You have to pay a transaction fee on the ethereum network to execute a smart contract when making a buy/sell order and then on top of that Etherdelta will also deduct Its fee from your tokens. This is more like double billing.

[Awesomus Maximus]

In addition to the above, I would say that many trading pairs are non existent on the DEXs. This is very unfortunate, because sometimes I would use the DEX despite the high fees, despite not having enough trading volume, or despite the unfavorable prices. What I like with the DEXs is that they have no verification and preserve your privacy to a certain extent. IMO, privacy trumps over all the other advantages of the CEXs. Of course if you trade for a living or you trade often, then you have no choice but to use the CEXs. Hopefully things will shift in direction of the DEXs in the future. We need decentralization with the exchanges too not just with the cryptocurrencies.

[mk4]

How many times are you going to post the same question? Not much of a clever way of advertising your DEX honestly.

Topic: What do you prefer - Centralized or Decentralized Exchange? https://bitcointalk.org/index.php?topic=5129357
Topic: What do you prefer - Centralized or Decentralized Exchange? https://bitcointalk.org/index.php?topic=5129347

[LeGaulois]

It's true that the volumes are too low to attract people and it can also be difficult for some people to use. It's already hard enough to convince them of the advantages of using a DEX and the low volumes do not make it easy for them to do so, nor does their lack of exposure. Not everyone is interested in Atomic swap, fiats still rule at the end.

[Artemis3]

It's true that the volumes are too low to attract people and it can also be difficult for some people to use. It's already hard enough to convince them of the advantages of using a DEX and the low volumes do not make it easy for them to do so, nor does their lack of exposure. Not everyone is interested in Atomic swap, fiats still rule at the end.

So its a catch 22: Few people use them because they are low volume, and they are low volume because few people use them (reminds me of small pools).

Of course a decentralized exchange is better, you get to control your coins, not the exchange. But even centralized low volume exchanges are useless. Guess we need a ranking by volume for decentralized exchanges. I read an article a couple of days ago that lists Idex on the top, i wonder how true is that.

If actual fiat is involved, I guess there is not much hope. A decentralized localbitcoins? "Out of Band?" Bisq looks very promising, but no one is using it...

[weidex]

In addition to the above, I would say that many trading pairs are non existent on the DEXs. This is very unfortunate, because sometimes I would use the DEX despite the high fees, despite not having enough trading volume, or despite the unfavorable prices. What I like with the DEXs is that they have no verification and preserve your privacy to a certain extent. IMO, privacy trumps over all the other advantages of the CEXs. Of course if you trade for a living or you trade often, then you have no choice but to use the CEXs. Hopefully things will shift in direction of the DEXs in the future. We need decentralization with the exchanges too not just with the cryptocurrencies.

I fully agree with you.
Now we have decentralized assets, but we trade them in centralized manner.
This is completely wrong. Its like having a submarine and trying to fly with it in the sky.

We believe that with the further development of blockchain technology, we will have fast and scalable blockchains,
then no one will have a single reason to use CEX.

[rosezionjohn]

So its a catch 22: Few people use them because they are low volume, and they are low volume because few people use them

This is exactly what's happening.

Even the number one DEX at the moment (IDEX) has liquidity issues also. It appears that people only use DEX's to either buy or sell, not buy and sell, then get out.

[dunfida]

Hello guys,

I was wondering what exchange do you use CEXs or DEXs? If CEXs why don't you start using DEXs ?

Leave your opinion.

In the same time check our platform and give us a feedback. It will be highly appreciated ->> https://weidex.market/

Im not interested with that Dex you are simply promoting but i would answer out your questions.

CEXs = Less Fees, High Volume, Famous trading pairs
DEXs = Low volume,Smart-contract based tokens only

Only a few points but those are main ones.

[thanhswp]

In a context that the risk of losing money from being hacked is making the traders lose confidence in the centralized exchange platform, decentralization is the future of the blockchain technology. The emergence of decentralized trading platforms is something that definitely happens sooner or later. At present, users need a platform which is easy to use and has high security, asset self-control as well as high liquidity.
Binance DEX and Nash Exchange (These are DEX that are most noticeable) will solve the liquidity problem for decentralized exchange.
That is my personal opinion about the decentralized exchange.

[magneto]

Because there are people who simply don't get what they look for in DEXs.

Centralised exchanges are still dominant because AFAIK, there is no decentralised way of exchanging cryptos to other cryptos on a cross-platform basis, nor is there a way to somehow interact with fiat transactions in the same trustless way (you could possibly integrate a stablecoin/token, but that's still not trustless).

I do see the issues in terms of the risks with storing funds on a centralised exchange, however, which is why I think that in the future there will be space in the market for DEXs. But right now, there is simply not enough liquidity nor enough awareness about these markets for it to be feasible on a large scale.

[BitHodler]

But right now, there is simply not enough liquidity nor enough awareness about these markets for it to be feasible on a large scale.

Liquidity isn't even the main thing here. Bitcoin for example has slow confirmation times (slow in relation to most other coins) which significantly reduces people's user experience when it comes to trading.

As long as atomic swaps haven't been made mainstream ready, there is no way I can see dexes offer much usability. Instant trades is what people demand, and centralized exchanges provide that, dexes don't (yet).

I as semi old Bitcoiner don't even think about using dexes, let alone average joes. I doubt they even understand the difference between the two. All they care about is profiteering from the instability of the crypto market.

[virasog]

I do use CEXs and other exchanges that are based on atomic swaps. DEXs are annoying currently.

- The problem with most DEXs is the trade volume since very few users use them.
You place an order and it takes 2 or more days to get filled which is very annoying.

- Also the spread of a coin/token price is usually abnormal in DEXs. You discover that most orderbooks have the ASK price of a token having a difference of 50% from the bid price.

- Most DEXs use smart contracts which lead to higher trading fees compared to traditional CEXs like Binance
For example Etherdelta You have to pay a transaction fee on the ethereum network to execute a smart contract when making a buy/sell order and then on top of that Etherdelta will also deduct Its fee from your tokens. This is more like double billing.

Decentralized exchanges are not so popular due to lack of volume.However Binance Dex can change the things pretty quickly and we will see a lot more exchanges emerging as decentralized.  I am waiting for the binance Dex to be fully established and see how they will be able to overcome the drawbacks of DEX which you mentioned.

[acgenius]

Good afternoon ladies and gentlemen. Was now reading more about centralized and decentralized exchanges and seems we can talk about many benefits, considering decentralized exchanges. And this is basically what weidex is offering. But is anyone here to talk more about that?

[armavirjetski]

Good afternoon ladies and gentlemen. Was now reading more about centralized and decentralized exchanges and seems we can talk about many benefits, considering decentralized exchanges. And this is basically what weidex is offering. But is anyone here to talk more about that?

Hey there sir, nice to meet you. This is definitely an interesting topic to discuss and weidex is looking good with what they are coming with. What exactly did you want to discuss?

[acgenius]

Hey there sir, nice to meet you. This is definitely an interesting topic to discuss and weidex is looking good with what they are coming with. What exactly did you want to discuss?

Nice to meet you too! Well, to start with, I would like to know more about benefits decentralized exchange can give and bring. Can you outline the most important ones, from your point of view?

[armavirjetski]

Nice to meet you too! Well, to start with, I would like to know more about benefits decentralized exchange can give and bring. Can you outline the most important ones, from your point of view?

Yes, of course. The main idea behind the decentralized exchange in general is the removal of the third party and it doesn’t need to collect your personal data like email, name or identification number.. And the most important feature is that users keep full control over their funds

[acgenius]

Yes, of course. The main idea behind the decentralized exchange in general is the removal of the third party and it doesn’t need to collect your personal data like email, name or identification number.. And the most important feature is that users keep full control over their funds

Oh, I see, sounds more that great. And where can I find out more about weidex? Cause, as I understand, they are coming with a very advanced project.. Heard of them for several time already

[armavirjetski]

Oh, I see, sounds more that great. And where can I find out more about weidex? Cause, as I understand, they are coming with a very advanced project.. Heard of them for several time already

They definitely are! Well, I would recommend you to join their Telegram chat - just search for "weidex" and, of course, have a look at their website and other resources 

[joniboini]

I will say that if you use 'fake discussion' to bump this thread or promote your site, it won't give you the result that you wanted.

Really interesting that acgenius & armavirjetski is nearly always responding and quoting each other messsage.

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