DEX's with MILLIONS in volume, COULD make you stinking rich, here's why.

[akram143]

Decentralized exchanges are non profitable exchanges so users trade between themselves without any third party like service provider so you are not going to pay any fees but do you think which could make you a millionaire?

And many newbies shilling for Blocknet recently.

[1714809700]

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[cepot9]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

[Flux0z]

Decentralized exchanges are non profitable exchanges so users trade between themselves without any third party like service provider so you are not going to pay any fees but do you think which could make you a millionaire?

And many newbies shilling for Blocknet recently.

Some DEX's runs on a layer of masternodes to enhance decentralization, which benefits all parties. The node owner can make thousands of dollars monthly with a enough volume. Coinbase, Binance etc takes a LOT of fees, in this case the fees are shared among way more people, investors actually, which is pretty smart.

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

Which DEX's have you tried? Because typically DEX's has lower fees than CEX's as far as I know.

[LeoBTCGod]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

Capitalist? They are quite the opposite man. I don't think you know THAT much about DEX's at all. Go do some research on your own, you can read about Blocknet's here: https://blockdx.com/

[GucciBoy]

Decentralized exchanges are non profitable exchanges so users trade between themselves without any third party like service provider so you are not going to pay any fees but do you think which could make you a millionaire?

And many newbies shilling for Blocknet recently.

ALL exchanges has fees, prove me wrong. DEX's is no expeption  to this, the difference is that the fees is collected by investors owning nodes on the network, and not a centralized entity such as Coinbase, or Binance.

If you run a node on the Blocknet plaform, you can take parts in thousands of dollars worth of fees every month. If we talk millions in volume, and only 200-400 active nodes on the network (due to a high entry barrier) it could be EXTREMELY profitable long term.

[Natalim]

Decentralized exchanges are non profitable exchanges so users trade between themselves without any third party like service provider so you are not going to pay any fees but do you think which could make you a millionaire?

And many newbies shilling for Blocknet recently.

ALL exchanges has fees, prove me wrong. DEX's is no expeption  to this, the difference is that the fees is collected by investors owning nodes on the network, and not a centralized entity such as Coinbase, or Binance.

If you run a node on the Blocknet plaform, you can take parts in thousands of dollars worth of fees every month. If we talk millions in volume, and only 200-400 active nodes on the network (due to a high entry barrier) it could be EXTREMELY profitable long term.

Of course that would be possible, but the question is if people are going to adopt the DEX like Blocknet plaform.
I can always see this in some of the post here in bitcoin,  I'm wondering if this project is already successful and running, sorry, I haven't been trading in DEX for a long time, but if this is what you are talking (https://coinmarketcap.com/currencies/blocknet/), I think the volume is still small, it needs to improve.

[GucciBoy]

Decentralized exchanges are non profitable exchanges so users trade between themselves without any third party like service provider so you are not going to pay any fees but do you think which could make you a millionaire?

And many newbies shilling for Blocknet recently.

ALL exchanges has fees, prove me wrong. DEX's is no expeption  to this, the difference is that the fees is collected by investors owning nodes on the network, and not a centralized entity such as Coinbase, or Binance.

If you run a node on the Blocknet plaform, you can take parts in thousands of dollars worth of fees every month. If we talk millions in volume, and only 200-400 active nodes on the network (due to a high entry barrier) it could be EXTREMELY profitable long term.

Of course that would be possible, but the question is if people are going to adopt the DEX like Blocknet plaform.
I can always see this in some of the post here in bitcoin,  I'm wondering if this project is already successful and running, sorry, I haven't been trading in DEX for a long time, but if this is what you are talking (https://coinmarketcap.com/currencies/blocknet/), I think the volume is still small, it needs to improve.

True, adoption takes time, but luckily the average volume on the DEX itself has 10x'ed over the past year, so it's definitely improving. Their Litewallet is also soon going to be released, which is a multi currency wallet with the DEX inbuilt, making it easier for newbies to get started trading. Requires no sync time.

[BTCXRPADA]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

[leea-1334]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying.

And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds.

[LeoBTCGod]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying.

And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds.

Cancelled orders happens when the maker cancels, just like any other centralized exchange. The beautiful thing about DEX's is:

1) They will never shut down
2) They cannot be taken down even by law enforcements, as the DEX is owned by no one
3) Your keep your privacy
4) All trading is trustless, you do not need to TRUST anyone.

There are many more benefits, but these are just the main ones.

[dunfida]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying.

And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds.

Cancelled orders happens when the maker cancels, just like any other centralized exchange. The beautiful thing about DEX's is:

1) They will never shut down
2) They cannot be taken down even by law enforcements, as the DEX is owned by no one
3) Your keep your privacy
4) All trading is trustless, you do not need to TRUST anyone.

There are many more benefits, but these are just the main ones.

You said it right when it comes to cancelled orders and theres nothing surprising about that.

The market had several DEXE's and some of them are already closed.I can say that decentralization is always been good but people do still end up on
centralized ones because of lacking of fiat integration and services.
Yes, we can find only these features on centralized ones thats why it isnt surprising that people will surely jump to the other side in exchange to that.

[LeoBTCGod]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying.

And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds.

Cancelled orders happens when the maker cancels, just like any other centralized exchange. The beautiful thing about DEX's is:

1) They will never shut down
2) They cannot be taken down even by law enforcements, as the DEX is owned by no one
3) Your keep your privacy
4) All trading is trustless, you do not need to TRUST anyone.

There are many more benefits, but these are just the main ones.

You said it right when it comes to cancelled orders and theres nothing surprising about that.

The market had several DEXE's and some of them are already closed.I can say that decentralization is always been good but people do still end up on
centralized ones because of lacking of fiat integration and services.
Yes, we can find only these features on centralized ones thats why it isnt surprising that people will surely jump to the other side in exchange to that.

We don't NEED exchanges for FIAT gateways. There are multiple service providers out there, which offers great deals on crypto, which is often cheaper than exchanges themselves. (Just my experience).

Once DEX's reach several millions in volume, then there is no NEED for these centralized exchanges anymore, hence why I believe DEX's is a good long term plan.

[akram143]

We don't NEED exchanges for FIAT gateways. There are multiple service providers out there, which offers great deals on crypto, which is often cheaper than exchanges themselves. (Just my experience).

Once DEX's reach several millions in volume, then there is no NEED for these centralized exchanges anymore, hence why I believe DEX's is a good long term plan.

If we have to achieve complete anonymity then there also should be a decentralized exchange for fiat conversion but we only have p2p sites which can give anonymity but the trader who sends you the money knows who you are.

[dunfida]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

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We don't NEED exchanges for FIAT gateways. There are multiple service providers out there, which offers great deals on crypto, which is often cheaper than exchanges themselves. (Just my experience).

Once DEX's reach several millions in volume, then there is no NEED for these centralized exchanges anymore, hence why I believe DEX's is a good long term plan.

I do agree that there are several gateways but the question is, would you trust them enough to make such transactions or deals?
Yes, they are cheaper but i cant easily just make tx in them thats why people do really rely on centralized even its completely contrary on what
we are hoping.

If we have to achieve complete anonymity then there also should be a decentralized exchange for fiat conversion but we only have p2p sites which can give anonymity but the trader who sends you the money knows who you are.

P2P is considerable but theres a specific risk behind that since this is face to face transaction then it would neither on the way on how fiat would be transferred
if it would be on handed or via bank account.So we know on how things work after that.

[deathcode]

We don't NEED exchanges for FIAT gateways. There are multiple service providers out there, which offers great deals on crypto, which is often cheaper than exchanges themselves. (Just my experience).

Once DEX's reach several millions in volume, then there is no NEED for these centralized exchanges anymore, hence why I believe DEX's is a good long term plan.

If we have to achieve complete anonymity then there also should be a decentralized exchange for fiat conversion but we only have p2p sites which can give anonymity but the trader who sends you the money knows who you are.

Is such a system applicable in trading on the crypto market? then what about the security for traders? I understand the system will continue to evolve, but all must be considered properly so that no errors occur that cause loopholes for hackers.

[shoreno]

I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot. 

You clearly hardly know what a DEX is, because they are completely the opposite of your claims.

A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit.

Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying.

And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds.

you mean your orders got cancelled , how was that possible and from what decentralized exchange you experience it  .

 that can be annoying indeed but thats nothing commpared to a centralized exchange that ask for your kyc and other things   .  never got a bad experience on using a dex  in my case but dexe's dont have enough power to compete with cex's  right now   . maybe in  the future if people got tired of the hassel that cex's cost to them   .

[dejuan]

Good start to post but you lost me at Blocknet - only has 15k trading volume

Kyber is the way for this play

Staking coming end of June - https://www.coindesk.com/kyber-offer-delegated-token-staking-network-upgrade
Most used Dapp or DEX or both, forget which (search for it - Binance did an analysis)
70% of transaction fees burned
Etc...

DYOR

[GucciBoy]

Good start to post but you lost me at Blocknet - only has 15k trading volume

Kyber is the way for this play

Staking coming end of June - https://www.coindesk.com/kyber-offer-delegated-token-staking-network-upgrade
Most used Dapp or DEX or both, forget which (search for it - Binance did an analysis)
70% of transaction fees burned
Etc...

DYOR

The volume is low because Bittrex doesn't allow US traders on their platform, which is Blocknets main exchange. Their DEX gets up to $10k volume on it's own some days, some days more, some days less.

Blocknet is MUCH more than just a DEX, which I believe most people are unaware off.

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.

Have you heard about uniswap, it's a dex exchange, currently lots of coins in there are doing x5 - 100, to me its consider the best Dex for now because it's really easy to navigate through, lots of people have been made awesomely rich from that exchange

Uniswap is limiting itself by being an ETH-based DEX. Meaning you CAN'T trade anything else than ERC tokens on it. This leaves out a LOT of projects, including BTC.

[Wh00re]

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.

Have you heard about uniswap, it's a dex exchange, currently lots of coins in there are doing x5 - 100, to me its consider the best Dex for now because it's really easy to navigate through, lots of people have been made awesomely rich from that exchange

Only thing I know about it, is that you cannot trade BTC on it, which is the main pair for everything no matter where you go. It's great to see that it has a lot of volume though, as it means there is demand for trustless trading. Blocknet being one of the most decentralized in existence.

[Flux0z]

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.

Have you heard about uniswap, it's a dex exchange, currently lots of coins in there are doing x5 - 100, to me its consider the best Dex for now because it's really easy to navigate through, lots of people have been made awesomely rich from that exchange

Uniswap only supports Ethereum tokens, so it's really not my cup of tea  The volume is growing though, the same can be said about other DEX's such as Blocknet's DX platform, and Bisq.