Dex exchanges are safe?

[khiholangkang]

I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?

Of course it is very risky if the exchange is scam they will use our wallet and move the assets we have, in my opinion we better use a new wallet specifically for DEX, because if using the main wallet is very dangerous

[Turkish88]

Very interesting thing, i am never think about it.
Scam DEX its something new for me ))
What if i am use metamask and control all operations ?

[altscaner]

some are safe, some are not because as far as I know there are some dex that are not worth trying, it's just that I forgot what the name of the dex is but the dex is devoted to tokens from ethereum, and my advice is if you choose dex search that already has enough volume for a new dex you have to be a little wary .

[nwosuchristabe2]

In my opinion, decentralized exchange is safe to an extent, but the issue is that there's a possibility of getting your wallet compromised if your browser is infected. I remember loosing over 1 eth to a foreign wallet while using the metamask on my Google chrome browser, I guess it was because my browser was compromised and immediately I activated the metamask wallet, the eth was sent out to a foreign wallet.

[BryanK]

Developers of any exchange can provide third-party software and assure that it is safe. In fact, it may hide itself a spy virus.

[lizarder]

for security, it's certainly safe, because dex is very different from cex, and why is dex safe? because from the way dex works, relying on smartcontract and smartcontract is very complicated to hack as I know it, and I know dex isn't always safe because it could be because dex is popular there are some who look for opportunities to create a scam dex exchange.

[Hans Groober]

It's hard to say. Of all the dexes, I traded only on ForkDelta, EtherDelta and IDEX. For more than a year of trading, I have never encountered the fact that I lost coins. I do not guarantee that they can be fully trusted, but you can use these exchanges.

[Lanatsa]

Developers of any exchange can provide third-party software and assure that it is safe. In fact, it may hide itself a spy virus.

You're aren't pertaining with Dex because if we do talk about on how dexes work then this wont fit out yet we know that they do integrate Metamask for smart contracts or scatter for EOS and  so on.

[kram31]

It is safe as long as you have the right website.
You just make it right to put infos there and you should be ready for that.
As for your private keys, never share to anyone and put it on the right space on the right site.

[Pet240]

If you are using a decentralized exchange, the security of your fund lies in your hands and not on the exchange, because you control your fund and every transaction carried out or executive, have to be done with your approval. So for you not to lose your fund, you have to be careful on the exchange site to you and the way you handle your private key.

[bitkanu]

I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?

With my experience until now, popular decentralized exchanges are good and safe to use.
In Ethereum network im using Forkdelta,  IDEX, DDEX.
On other coins, i usually using CryptoBridge as my decentralized exchange.

as long you can be sure about your security and take a good care of it, I guess you will be fine. Those decentralized exchanges are already popular and have a small chance of stealing money, some of their code also opensource so that the community could take a look into it.
If there's a chance of stealing, that'd be phishing or someone keylogging your privkey.

[jostorres]

I think Dex exchange is safe,. As long as you keep your private key and your password its really safe.

That is what I usually emphasize to a lot of people, the safety of our coins still depends on us. Whether Centralized exchange or Decentralized exchange, nothing is safe till we safeguard our own wallet personally. The only thing I just see with DEX exchanges is that it is quite difficult to hack the exchange itself, while CEX exchange is more prone to hacking generally even if you are careful with your keys.

The best thing to do when it comes to our crypto and their safety is never to save the coins on any of these exchange, they are the easiest target for our funds to be stolen than our personal wallet exchange and few exchanges are ones that have safe fund, once coin is stolen in some exchanges, its stolen and gone forever without compensation.

[Pecunia non olet]

It depends on the exchange.
Just like CEXs. Not every CEX is safe. Some of the DEXs are not pure DEX, maybe hybrid exchanges - marketing buzz word and when you loose your money by hack then you wonder how it is possible.

[farraddy]

Probably centralized and decentralized exchanges can be hacked. It all depends on the security of each of the exchanges. I believe that on decentralized exchanges some of the responsibility for their safety lies with the user.

[Anonylz]

In other words, you can always create a separate wallet for transactions on dex totally separate from the wallet were you hold the majority of your funds to ensure complete safety if you are not comfortable connecting your main wallet to any dex, all you need do is transfer whatever amount of funds you need to transact with to this particular wallet and that is it.

[Crazypeach14]

Dex exchanges are pretty safe if ya know what ya doing babe. Don't leave coins on the exchange, just trade then leave. Just ma 2 centz.

[BryanK]

I think that such opportunities there is no. It's possible,but  the exchange will have to try very hard to steal this information from your device. Since any device has a built-in protection system and almost all programmers can not bypass this protection. But in any case, I do not advise you to install the software on the phone as you can lose your device and you have to do a lot of unnecessary actions.

[iv4n]

Probably centralized and decentralized exchanges can be hacked. It all depends on the security of each of the exchanges. I believe that on decentralized exchanges some of the responsibility for their safety lies with the user.

It`s not easy to hack decentralized exchange, and even if you do what will you steal from them? Decentralized exchange is just an automated way for peers to find themselves and engage in a smart contract. You are using your wallet address to sign in to the DEX and you are much safer when you need to send your funds to other wallet, which is a case with centralized exchanges. With centralized exchanges it`s different story, all accounts on one place, just couple cold and hot wallets.
Dex is much more safer than centralized exchanges, but lack of volume is not make them perfect places for trading yet. It will take a long time, but I believe that one day dex will be more popular than centralized exchanges.

[Karlinz]

It is safer and convenient, that is the vision stableDEX also has and are integrating a lot of features to make theirs stand out. I think there are certain improvements that need to be done and the introduction of certain dex tokens will be one of such. One need to be careful though there are a lot of phising sites too claiming to be dex and will steal private keys and have access to one's funds

[max6575]

yes the use might helps as the least on work with request to create of new acc with the project.