Dex exchange for Bitcoin with stop loss function?

[Salamande]

I would like to put my BTC owning on a stop loss, in case of another crash. Don't really want to do it on an exchange and keep my btc unsafe for a long time.

Any good DEX for BTC that do that?

TIA

[1714904317]

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[1714904317]

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[mk4]

dYdX and Solana’s Mango Markets both has stop loss functions; but take note that these are smart contract platforms hence you are going to be using wrapped bitcoin or WBTC(pretty much bitcoin IOUs) and not actual bitcoin.

If you want to use actual “real” bitcoin, then I’m afraid you’re limited to using custodial exchanges.

[ryzaadit]

1inch offering stop-loss order : https://1inch.io/limit-order-protocol/

As like @mk4 said, for using BTC with Bitcoin Network you will can't using this via your personal wallet. So, only can be using backup asset bitcoin (Wrapped Token) on some chain like BSC/ETH and other support chain in the DEX.

[Salamande]

dYdX and Solana’s Mango Markets both has stop loss functions; but take note that these are smart contract platforms hence you are going to be using wrapped bitcoin or WBTC(pretty much bitcoin IOUs) and not actual bitcoin.

If you want to use actual “real” bitcoin, then I’m afraid you’re limited to using custodial exchanges.

Is using wrapped bitcoin still as solid as bitcoin itself? I mean I could transfer my btc ownings into wrapped bitcoin and be 100% safe?

[cryptoaddictchie]

Is using wrapped bitcoin still as solid as bitcoin itself? I mean I could transfer my btc ownings into wrapped bitcoin and be 100% safe?

There's no actual difference but it's rarely to see trading bitcoin as wbtc since it will be converted into some smart contract tokens. If you want to trade wbtc then there's plenty of dex there but your coin isn't on btc network but only on smart contract. I'm using it on fantom chain trading wbtc but still a token version.

[LoyceV]

Is using wrapped bitcoin still as solid as bitcoin itself? I mean I could transfer my btc ownings into wrapped bitcoin and be 100% safe?

There's no actual difference

Please don't tell people made-up tokens pegged to Bitcoin on a centralized chain are the same as Bitcoin!
Wrapped Bitcoin isn't the same as Bitcoin, and wrapped Bitcoin isn't safe. It makes you 100% depend on a centralized institution! Remember the "not your keys, not your coins" thing: you don't own the keys to the Bitcoins so it's not yours if someone else has it.
If you accept central control, you can just as well use a centralized exchange instead of a Dex.

[cryptoaddictchie]

Please don't tell people made-up tokens pegged to Bitcoin on a centralized chain are the same as Bitcoin!
Wrapped Bitcoin isn't the same as Bitcoin, and wrapped Bitcoin isn't safe. It makes you 100% depend on a centralized institution! Remember the "not your keys, not your coins" thing: you don't own the keys to the Bitcoins so it's not yours if someone else has it.
If you accept central control, you can just as well use a centralized exchange instead of a Dex.

I know someone did a tokenized pegged version of bitcoin and that's called wbtc

https://www.coingecko.com/en/coins/wrapped-bitcoin

I don't know but I'm using it on defi product. Yes there is a difference, in terms of benefiting on defi products on smart contract, wbtc is much efficient. I don't know how about the not your key not your coin, but I'm pretty sure I hold my private key where the wbtc is stored. (regardless centralized institution freeze it)

I say it's the same cause the price tokenomics are actually the same. But I understand your point that its not the actual bitcoin we hold @LoyceV so I get your point. But that wbtc can easily  be traded on Binance with 1:1 so to btc (onchain) been tried that and been doing that since it got listed.

[mk4]

dYdX and Solana’s Mango Markets both has stop loss functions; but take note that these are smart contract platforms hence you are going to be using wrapped bitcoin or WBTC(pretty much bitcoin IOUs) and not actual bitcoin.

If you want to use actual “real” bitcoin, then I’m afraid you’re limited to using custodial exchanges.

Is using wrapped bitcoin still as solid as bitcoin itself? I mean I could transfer my btc ownings into wrapped bitcoin and be 100% safe?

Look at it as something like holding bitcoin on a centralized exchange — whereas you only actually hold “real” bitcoin once you already withdrew the coins to a non-custodial wallet.

Same thing with WBTC, you don’t actually hold “real” bitcoin, so you should only merely use it as a trading tool. It’s non-custodial, but not really decentralized. Not something that I would personally use to hold bitcoin for the long-term.

[slaman29]

Try HyperDEX (Google it to look it up or go from Plasmapay).

Tried it and it works. You don't even pay anything extra for Limit Orders that expire (you can set date expiry which I recommend because manual cancellation you'll have to pay gas fees for the smart contract).

Works nicely but of course you use wrapped BTC.

[LoyceV]

I don't know how about the not your key not your coin, but I'm pretty sure I hold my private key where the wbtc is stored. (regardless centralized institution freeze it)

You may hold a private key to a made-up token, but that's not Bitcoin, and indeed, a centralized institution can freeze it. Or just disappear. Or get "hacked" and lose the Bitcoins you thought were pegged to the wbtc you have the key to.

I say it's the same cause the price tokenomics are actually the same.

The price of wbtc can instantly go to zero. It may not be very likely, and it may not happen this year, but it can happen at any moment.

I understand your point that its not the actual bitcoin we hold @LoyceV so I get your point.

I wonder where people draw the line: currently there's over 250,000 Bitcoin "wrapped". What if it becomes 10% of the circulating supply? 50%? That would basically mean someone controls the majority of all real Bitcoins. And it's ridiculous I now feel the need to add "real" to the word "Bitcoin"!

But that wbtc can easily  be traded on Binance with 1:1 so to btc (onchain) been tried that and been doing that since it got listed.

Until they decide you can't. This goes against all the freedom and "be your own bank" Bitcoin stands for. We used to have Forkcoins claiming to be the real Bitcoin, now centralized exchanges like Binance try to convince people to accept their own counterfeit Bitcoin.

[maju69]

dYdX and Solana’s Mango Markets both has stop loss functions; but take note that these are smart contract platforms hence you are going to be using wrapped bitcoin or WBTC(pretty much bitcoin IOUs) and not actual bitcoin.

If you want to use actual “real” bitcoin, then I’m afraid you’re limited to using custodial exchanges.

Is using wrapped bitcoin still as solid as bitcoin itself? I mean I could transfer my btc ownings into wrapped bitcoin and be 100% safe?

Not sure, said solid it won't be like Bitcoin. Because Bitcoin is still Bitcoin, not wbtc and others who seem to be pegged at the original Bitcoin price.
It says 100% safe too, I'm not sure, because at any time the DEX Exchange could have a problem, and your Bitcoins in it just sink. Imagine with the original Bitcoin, it might not turn into anything. So IMO, if you want to use the Dex exchange, then use it in a short time. Do not let it be too late in the morning in large quantities.

[suryogandul]

1inch offering stop-loss order : https://1inch.io/limit-order-protocol/

As like @mk4 said, for using BTC with Bitcoin Network you will can't using this via your personal wallet. So, only can be using backup asset bitcoin (Wrapped Token) on some chain like BSC/ETH and other support chain in the DEX.

what is the accurate percentage of dex stoploss from this platform?  I honestly don't know much about this platform.  however, I want to have a certainty about the platform and can be a recommendation in the future.

[el kaka22]

I never heard of any proper top DEX to have something like this. I am hoping that it would be more common but I doubt that it would even be possible. People assumed DEX as defi dexes but the reality is that there were DEX before defi even was a thing. I took this as an example for that, I get that you can't really make comparisons between them but if you want to do bitcoin trading with stop loss then the real bitcoin is at the real DEX and not at DeFi ones.

Just like everyone else said, if you go to places like 1inch and all then you need to do wrapped bitcoin and not the real one which I always found alright to be honest. However, if you go to real dexes that existed for a long time, then you are going to end up with real bitcoin and doing real trading with stop loss there as well. It makes sense to me that someone who wants to use stop loss would do that at those.