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Author Topic: Which instant crypto exchange is the safest?  (Read 306 times)
tiedcoin (OP)
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October 23, 2020, 04:36:17 AM
 #1


A serious question pops up for those of us who have already become cryptocurrency adopters – how to exchange one coin to another rapidly, conveniently, and, most importantly, securely? Cryptocurrency exchange safety is something that gets questioned quite often. When it comes to large custodial platforms, hacks occur, the funds can be managed without the owner’s permission, the service can, after all, just close down and take the user’s funds down with it.

https://swapzone.io/learn/safest-crypto-exchange/
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October 23, 2020, 04:52:27 AM
 #2


A serious question pops up for those of us who have already become cryptocurrency adopters – how to exchange one coin to another rapidly, conveniently, and, most importantly, securely? Cryptocurrency exchange safety is something that gets questioned quite often. When it comes to large custodial platforms, hacks occur, the funds can be managed without the owner’s permission, the service can, after all, just close down and take the user’s funds down with it.

https://swapzone.io/learn/safest-crypto-exchange/
Swapzone looks to be a much needed exchange service for the growing cryptocurrency market. In the website I can see limited pair of cryptocurrencies that can be swapped, also the site seems to be under development. The KYC free swapping access is really a good thing, because people always love to use decentralized services. Already uniswap has established it and successfully serving the cryptocurrency users.

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October 23, 2020, 05:35:20 AM
 #3

I don't know about the others, but DEX is enough for me - and I really like it. Why?
On regular exchanges you don't have the keys, so you don't really own any money there.
On DEX, I trade directly from my personal wallet, so whatever happens to any DEX, my money will definitely be safe.
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October 23, 2020, 05:52:02 AM
 #4

I don't know about the others, but DEX is enough for me - and I really like it. Why?
On regular exchanges you don't have the keys, so you don't really own any money there.
On DEX, I trade directly from my personal wallet, so whatever happens to any DEX, my money will definitely be safe.

Dex tends to be more comfortable and secure than storing our assets on regular exchanges. Even though I still do transactions on Binance or Indodax, I prefer Uniswap, no KYC and control is in our hands.

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October 23, 2020, 06:08:37 AM
 #5

I don't know about the others, but DEX is enough for me - and I really like it. Why?
On regular exchanges you don't have the keys, so you don't really own any money there.
On DEX, I trade directly from my personal wallet, so whatever happens to any DEX, my money will definitely be safe.

Dex tends to be more comfortable and secure than storing our assets on regular exchanges. Even though I still do transactions on Binance or Indodax, I prefer Uniswap, no KYC and control is in our hands.

I do dexes wherever possible. Not only they are cheap, they are also quick. They are initiated with first transaction and completes instantly and sends the coins without any delay. They don't have the withdrawal fees just the exchange one. Where exchange is not possible, I used to goto exchanges like changelly, though they are still better for converting to bitcoin or other high fees coins, for all of the low withdrawal fees coins, centralized exchanges like binance are far better. The rates and final output are much better. The only disadvantage is the high withdrawal fees for bitcoin.

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October 23, 2020, 06:49:35 AM
 #6

What instant exchange? They are swapping exchange not instant, swap eliminate lot of procedure which needed in traditional centralized exchange but still take time for conversion and reaching out your wallet.

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October 23, 2020, 07:04:25 AM
 #7

Decentralized exchanges are good and safe when you are in hurry but, from my experience, they are not that good when the network is congested because transaction fee + approval tends to go really high during that time.

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October 23, 2020, 07:40:16 AM
 #8

I use several exchange services mainly decentralized ones and in my opinion they are all more or less reliable the one I use most often is uniswap but also atomic swapp and kyber swapp are not bad at all, the only problem for everyone is the fees too high
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October 23, 2020, 07:40:53 AM
 #9

The DEX exchange has been innovative and has high liquidity, the best features of DEX are a fully self-controlled wallet, instant deposits and withdrawals. I often trade on Uniswap, Curve, and others, but for official exchanges only deposit funds on Binance.

List of other DEX exchanges on CMC
https://coinmarketcap.com/rankings/exchanges/dex/

 
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October 23, 2020, 08:14:40 AM
 #10

Decentralized exchanges are good and safe when you are in hurry but, from my experience, they are not that good when the network is congested because transaction fee + approval tends to go really high during that time.
That's exactly the problem with DEX, they ask for too much fees and we saw this during the hype of DeFi project. For me, the fastest and safest is through P2P transactions especially if you have friends that are willing to buy your coin/token. CEX are still safe though there are vulnerable to the hackers so don't put too much money to them. Instant exchange will also depend on the traffic in the market and will also depend on how much fees you are willing to pay.

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October 23, 2020, 08:27:08 AM
 #11

I think it is not appropriate to call any DEX or CEX as the safest crypto exchange, Because we don't know yet how strong the security of each platform, But at some point, there is advantage and disadvantage for both Decentralized and Centralized exchange setups, for that reason, I will set aside my judgment because I'm using it both "Uniswap and Binance" all I can say is both are doing well.  
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October 23, 2020, 08:45:03 AM
Last edit: October 24, 2020, 05:48:03 PM by Rohtox
 #12

I think DEX exchange, as for the metrics under consideration DEX has included liquidity, KYC standards, trade volume, trading fees, supported tokens, as well as the technical details of how each platform approaches decentralization. BSCswap and Uniswap are both examples of the best DEX exhcange I have used.

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October 23, 2020, 08:58:55 AM
 #13

Safest is always where you have the less risk as possible,,, so that usually means DEX because it means at the very least that your funds are fully there under your control, so no matter what, they cannot hack it or steal it even if they wanted to.

Other than that, there is no "safest" option at CEXs.

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October 23, 2020, 08:59:43 AM
 #14

fck i thought your going to ask if what exchange are instant but is there really an instant exchange? because so many things can affect the transfer of the coins especially if that exchange or that coin is being used by the most people .

the exchange your promoting is new ? never heard of that before but what is your assurance that your exchange is instant and safe ? its okay if not verry instant but safety is the concerned of all crypto users.  hacking is diferent from scamming  , if the exchange was closed thats not a hack and not all large exchange are going to scam but only hacks are more expected
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October 23, 2020, 11:03:22 AM
 #15

I want to recommend Changelly pro cryptocurrency exchange. In my opinion, a modern solution in the cryptocurrency exchanges market. If anyone is interested, you can read this review, there are many details about this cryptocurrency exchange.
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October 23, 2020, 11:29:07 AM
 #16

Safest is always where you have the less risk as possible,,, so that usually means DEX because it means at the very least that your funds are fully there under your control, so no matter what, they cannot hack it or steal it even if they wanted to.

Other than that, there is no "safest" option at CEXs.

But what he's promoting actually is the swapzone platform. I haven't used that exchange so I really can't vouch for it. But the liquidity of DEX depends on how strong the token is and how popular it is to the community. So if you compare swapzone with uniswap right now, I couldn't see swapzone in the top 50. Or am I just missing something where to look at?
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October 24, 2020, 09:54:14 AM
 #17

I don't know about the others, but DEX is enough for me - and I really like it. Why?
On regular exchanges you don't have the keys, so you don't really own any money there.
On DEX, I trade directly from my personal wallet, so whatever happens to any DEX, my money will definitely be safe.

Dex tends to be more comfortable and secure than storing our assets on regular exchanges. Even though I still do transactions on Binance or Indodax, I prefer Uniswap, no KYC and control is in our hands.

Why are you so against KYC? Maybe I will be wrong but - I believe that this is quite a useful and correct practice that not only allows you to remove "unreliable" people from the exchanges, but also increases the level of trust from those in power to our industry. When you come to the Bank, you do not require to issue a card without providing documents, do you?
As for me , if we want cryptocurrencies to spread more widely, we should be more loyal to KYC.
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October 24, 2020, 10:06:43 AM
 #18

Asking a question then you'll tag at the end a link which seems to be the answer for your question.

Why are you so against KYC? Maybe I will be wrong but - I believe that this is quite a useful and correct practice that not only allows you to remove "unreliable" people from the exchanges, but also increases the level of trust from those in power to our industry. When you come to the Bank, you do not require to issue a card without providing documents, do you?
As for me , if we want cryptocurrencies to spread more widely, we should be more loyal to KYC.
If you'll ask other people who have been in the market and are dealing with cryptocurrencies for a long time, most of them will answer the same. Many don't like KYC as that's not the actual reason why crypto or bitcoin was made. But you also have the point about spread and adoption, KYC has to be applied but this is for those exchanges and for users like us, we have various choice for which exchange to use, with or without KYC. I'll choose the favourable exchange that don't enforce KYC or if they do, only for increasing limits.

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Hypnosis00
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October 24, 2020, 10:47:34 AM
 #19


A serious question pops up for those of us who have already become cryptocurrency adopters – how to exchange one coin to another rapidly, conveniently, and, most importantly, securely? Cryptocurrency exchange safety is something that gets questioned quite often. When it comes to large custodial platforms, hacks occur, the funds can be managed without the owner’s permission, the service can, after all, just close down and take the user’s funds down with it.

https://swapzone.io/learn/safest-crypto-exchange/
A lot of crypto exchanges around, all of them offer an instant change/swap, and that is possible. But if you are worried if there are delays and it leads to the hacking of your account, that was impossible if you are using legit exchanges.

And talking about safety assurance in all crypto exchanges, it is something in your hands and the exchanges that you have used. But if you are doubtful enough in crypto and if you are not comfortable in doing this, you'll no need to push yourself by then. Expect the risk at all times.

rodskee
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October 24, 2020, 11:03:14 AM
 #20

I don't know about the others, but DEX is enough for me - and I really like it. Why?
On regular exchanges you don't have the keys, so you don't really own any money there.
On DEX, I trade directly from my personal wallet, so whatever happens to any DEX, my money will definitely be safe.

Dex tends to be more comfortable and secure than storing our assets on regular exchanges. Even though I still do transactions on Binance or Indodax, I prefer Uniswap, no KYC and control is in our hands.
That is why Uniswap is making its way up now because of a Non KYC feature but still i Prefer Binance as this exchange is friendly user In my country and has lots of features that favors our countryman .
I want to recommend Changelly pro cryptocurrency exchange. In my opinion, a modern solution in the cryptocurrency exchanges market. If anyone is interested, you can read this review, there are many details about this cryptocurrency exchange.
Just now that i heard this Exchange and seems to be a Newly created one?

But willing to check it later,after preparing dinner and has a more time to stay reading here in forum.
I think DEX exchange, as for the metrics under consideration DEX has included liquidity, KYC standards, trade volume, trading fees, supported tokens, as well as the technical details of how each platform approaches decentralization. BSCswap and Uniswap are both examples of the best DEX exhcange I have used,
DEX has too many voters why not make this a POL so we can give our own vote to each exchange.

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