DEX

maximusIota

For now I use a VPN and change exchange when they require KYC. Plan B: Bisq and DEX should get your around centralized off-ramp shitty exchange.

Oheson

Google is not your friend for DeFi. When you Google crypto sites a scam site will most likely come up first. Go to a DEX from its CoinGecko or CoinMarketCap link only. Never use Google for anything crypto related.

uncapchad

On/Off ramping is the issue more so than the trading of. With full on AML enforcement you have to go to a registered CEX to off-ramp. Even then, banks can block money coming into your account or leaving it. Proof of source of funds is key. So depositing from a DEX to a CEX can also create issues as you cannot prove source of funds.

fuckoffgetmoney

Can r/cryptocurrency reccomend me any project on DEX or newly listed on CEX? I think 10x is possible.

KarateKid84Fan

Ok this might be a dumb question / suggestion but… why not sell your BTC on Robinhood for USD… send that USD to your bank account… then re-buy BTC on another exchange or DEX?

Buydipstothemoon

Selling on a DEX into a stable is always possible. If you missed buying a dip im sorry.

GRIFF_______________

Dude, go to pinksale and find $BOUFO, rumor is that CIA is involved in the backing of this token as an experiment to see if it can buy Info with Crypto about UFO’s and the paranormal….. sounds genius. I’ve been trying to tell others that use DEX about it, they also started one on pulse. Pretty interesting and you already know anything involving th Gov is going to win.

Shit_Happenss

Agreed that everything in chain is transparency and DEX is the easy answer. Yet FTX happened. And probably many crypto projects as well? How does bitcoin solve this?

rinaldohack

Maybe he know, he just don't know the terminology. CEX is Centralized EXchange. A forex-like site where you buy and sell cryptocurrency. For example Binance. The opposite is DEX, or Decentralized EXchange, where you pay people directly to buy cryptos. For example now defunct localbitcoins. Or now people use Uniswap (?). Or even if you pm me to buy BTCs, you send me paypal or whatever, I send BTC, it is considered decentralized exchange. (No I don't actually sell BTC. Especially via PM.)

Buydipstothemoon

You judge a CEX by a short downtime ? Kraken exists for over 10 years without significant scandals or hacks. Good luck finding another CEX that can say that. Besides that : never ever store your coins in a CEX. You wanna panic sell? Swap your coins on a DEX into a stablecoin.

timidpterodactyl

What you're missing is some common sense and context. If someone wanted to explain a complex project in one sentence, they don't have any choice except to use some jargon. Also, the target audience is important. Seems to me your examples are not directed at general audience because if so for instance, you need to explain NFT or DEX first before saying those sentences.

tkuid

"A trustless chain-to-chain DEX based on zero-knowledge technology." is pretty basic though. "trustless=decentralized", "chain" as in blockchain, "DEX=decentralized exchange". If the person does not know the first 3 terms, what is he doing with cryptocurrencies? why is he trusting any of this to put his money into it? There are no 3 words that describe "zero-knowledge technology" better than "zero-knowledge technology". Would you prefer "permutations over Lagrange-bases for oecumenical noninteractive arguments of knowledge" for example? The best they can do in this case is to omit it. "A trustless chain-to-chain DEX". OK you have a multi-chain DEX, but how? well, zero-knowledge proofs..If the "how" is not asked, the person probably should not put his money into it, right? Believe it or not, that is what the company might be doing. Its goal is not to onboard people. "No one cares. What we should care about is onboarding new people" this is your goal. Not theirs. Their goal might be to justify what they are saying with "A trustless chain-to-chain DEX".

_Tuxness_

Hi all! Slowly getting back into crypto and I was wondering if there are any DEX's out there that reward you with their own token (or something else even) for trade activity? Making some trades to fund some liquidity pools and figured I might as well make the trades on a platform that rewards the activity (if that exists). Thanks!

CointestMod

* Relevant Cointest topics:[Binance](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_binance), [Coinbase](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_coinbase), [CEX](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cex), [USDT](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether). * Relevant subreddits: r/binance, r/Kraken, r/CoinBase, r/Crypto_com, r/DEX, r/ProofofStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c367z0/public_audit_of_xmr_reserves_on_april_18th/kzek9ke/?sort=controversial). Doesn't work on mobile.

Substantial_Bear5153

Also, to expand a litte bit more specifically to your questions: Treat all smart contracts as malicious. For most of them source is not even available. Trust only widely used DEX swap router contracts such as Uniswap. When you sign an approval for eg Uniswap, you store into eg the USDT contract the amount that Uniswap can move from your balance. This can be finite (has to be renewed), or infinite. Allowance approved for a malicious contract can be revoked using revoke.cash; be careful of fakes of this site. It is considered good wallet hygiene to revoke unused DEFI contract approvalls. There is a super dangerous type of message that you can sign which can act as a blank check for further signing anything. Your browser wallet extension (I recommend Rabby) will warn you about this. If signed, the account must is permanently compromised.

gr8ful4

And as it will not be listed on CEX anymore and they have not yet learned to use DEX (thanks to their laziness) they will have to watch the rocket start from the ground.

Etrensce

Anything more than logging on to a known brand exchange that has a semblance of customer support is too hard for retail. Given that on boarding people on to CEX is already proving difficult (as can be seen by the substantial inflow of capital through ETFs), how can you come to the conclusion that retail is anywhere close to using DEX.

phatangus

People have been using offline on/off ramps like Craigslist even before DEX was born.

Sasquatch3_3

$seat Check out SEAT/SOL on DEX Screener! https://dexscreener.com/solana/1gc2m3UbBFJMQCb8ZGWpRLDVLmi13cf7q4CVc3TbqyV

analogOnly

A real DEX or one that pretends to be full decentralized but in fact is not, if only for the reason that it's hosted on a server to execute orders, which makes reaching the interface of exchange in accessible?

unduly-noted

You’re saying value and price aren’t correlated, implying Solana is overvalued, and dismissing positivity from investors as “nonsense”. My working theory is most people that think Solana has no value has not actually used it. Maybe they just traded it on CEX, if that. They haven’t experienced how nice it is to actually use it on a DEX or other dapps. My experience in DeFi with Solana is wonderful (under normal circumstances, ofc). If you’ve actually tried it and still think it has no value, I’ll disagree with you but of course you’re entitled to your opinion and I respect it. But the opinion of those that haven’t actually used it means nothing. Btw saying “everyone will continue to pile onto Solana like they’re told to” is pretty inaccurate. Solana probably gets the most hate and controversy of any chain of any I’ve seen. At least on Reddit.

GoodSamoSamo

Hard for a chain like Cardano to face an outages when it has no block demand and does sub 2 TPS. Like I said, if your chain isn't facing growing pains, your chain isn't growing. That's exactly whats going on with Cardano. ADA been around for 8 years, nothing to show for it. 1 TPS, relatively weak TVL, virtually no DeFi activity, no NFT presence, terrible DEX volume, virtually no stablecoins (not even USDT or USDC), no institutional interest (Grayscale just removed them from their institutional product list and Coinshare Fund Flows show virtually no interest in ADA ETP products), no serious investors or influencers in crypto support it or care about it, etc. The list goes on and on. Cardano is a garbage chain that is run by a sociopath and has a VC arm that is in charge of making ecosystem investments to attract builders - which it has failed horribly.

GoodSamoSamo

Hard for a chain like Cardano to face an outages when it has no block demand and does sub 2 TPS. Like I said, if your chain isn't facing growing pains, your chain isn't growing. That's exactly whats going on with Cardano. ADA been around for 8 years, nothing to show for it. 1 TPS, relatively weak TVL, virtually no DeFi activity, no NFT presence, terrible DEX volume, virtually no stablecoins (not even USDT or USDC), no institutional interest (Grayscale just removed them from their institutional product list and Coinshare Fund Flows show virtually no interest in ADA ETP products), no serious investors or influencers in crypto support it or care about it, etc. The list goes on and on. Cardano is a garbage chain that is run by a sociopath and has a VC arm that is in charge of making ecosystem investments to attract builders - which it has failed horribly.

unduly-noted

Welcome to crypto! Solana is known to have had issues in the past due to the challenges of scaling an L1. The issues thus far have always been resolved and I expect this will be no different. When it does, I recommend trying out the chain, under normal circumstances it’s really nice to use. Go do some liquid staking, trading on DEX, or providing liquidity. It’s a great experience.

CointestMod

#DeFi Con-Arguments Below is a DeFi con-argument written by TheTrueBlueTJ. > First published: [Here](https://www.reddit.com/r/CointestOfficial/comments/t5mmuj/general_concepts_defi_conarguments_march_2022/i9bo6f3/) > > # Intro > > I would now like to give my con arguments against using or engaging in decentralized finance (DeFi). Disclaimer: Primarily related to moons and closely related tokens, I have engaged with the DeFi ecosystem, such as with DEXes like Pancakeswap or testing out RCPSwap on the actual Reddit Arbitrum Testnet. [This comment](https://www.reddit.com/r/CointestOfficial/comments/t5mmtn/general_concepts_defi_proarguments_march_2022/) outlines my mostly positive view on DeFi. However, it also mentions something that DeFi is prone to: malicious bots. > > # Arguments > > **Sandwich attacks**: As explained in [this medium article](https://medium.com/coinmonks/defi-sandwich-attack-explain-776f6f43b2fd), sandwich attacks are a way for some malicious person to essentially front-run a user's transaction on a DEX (decentralized exchange). I have personally made the awful experience of dealing with such bots that continually monitor trading pairs on DEXes with low liquidity and prey on users making a trade that they consider valuable enough to be over a threshold to act on. Me and another user have also done some in-depth experimentation on that specific bot on Pancakeswap and come to the conclusion that they essentially never lose money, since they watch the mempool and can outbid any transaction that would cause them to be at a loss and simply pull out their "investment". The only way for them to lose money is to bait them into buying by buying yourself and being saved by slippage protection. Then waiting until they pull out after nothing happens for an hour. They would pretty much just lose the trading and transaction fees they paid. > > I think that sandwich attacks are a very bad thing for DeFi in the sense that they kind of gridlock smaller token trading pairs into discouraging users to buy. Because larger buyers notice that they are getting front-run every time, causing frustration. This essentially kills liquidity for a particular trading pair, while raking in good money from users who do not use slippage protection. Due to the nature of DeFi with emphasis on the decentralized part, nobody can really do anything against this, other than maybe validators blacklisting the addresses performing this attack. I feel like this is negative for DeFi in general and something to look out for. > > # Conclusion > > This argument kind of underlines the hypothesis that DeFi can be a wild west sometimes. Although this is what decentralization is about, these types of attacks should be mitigated or prevented somehow. Someone watching the mempool has a huge advantage over anyone else. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c1xpxz/solana_drama_continues_as_leading_defi_founder/kz89d5n/?sort=controversial). Doesn't work on mobile.

Own_Source2389

Have u used a DEX?

TAKE_THE_7_LINE

lol….someone writes a giant piece (I didn’t read past the headline). Your Comment on point! 🤙🏻 Tell me you know nothing about crypto, blockchain or DeFi without writing a novel about money & ETH. Maybe start with Layer 1 and Layer. The government trying to push back on DEX…. Thanks for your succinct comment 🔈🔉🔊

RawDick

No data on DEX pools so a pool might not existing for any pairing. You should send it to one of the CEX that has it listed. It’s still being actively traded right now so you can easily swap it for ETH/BTC or stables.

coinfeeds-bot

tldr; Crypto trading volume hit $5.3 trillion in the first quarter of 2024, with centralized exchanges (CEX) accounting for $4.8 trillion and decentralized exchanges (DEX) for $523 billion. The CEX sector grew by 96%, and DEX platforms saw a 76.5% increase in volume. Binance dominated the CEX sector with over $2 trillion traded, representing 43.4% of all Q1 trading volume, while Uniswap led the DEX market with 31% of its trading volume. Despite the overall growth, the DEX to CEX volume ratio decreased from 12.1% in Q4 2023 to 10.9% in Q1 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

katiecharm

Beam is not just confidential as the base layer (using mimblewimble), it also has defi - including a DEX.  It is the future 

Tcheiki03

Solana Scaling Solution #MSGA #SOL #MEMECOINS #SOLANA 09 April 2024 – In a move set to disrupt the blockchain landscape, Credit Smart Chain (CSC) announces its dual initiative of Solana scaling and a pre-sale offering, both strategically positioned to garner community support and participation in their vision for enhanced scalability and accessibility. Amidst Solana’s ongoing congestion and associated high costs, CSC’s unveiling of its Solana scaling solution couldn’t be timelier. With the aim of alleviating these pressing concerns, CSC introduces a seamless and cost-effective alternative, promising instant executions and negligible fees to drive a superior user experience and bolster profitability. Central to CSC’s innovative approach is its Solana scaling solution, comprising a bridge and a decentralized exchange (DEX). The bridge seamlessly facilitates the transition of assets from Solana to Credit Smart Chain, enabling projects to tap into CSC’s near-zero fees and instant execution capabilities. This not only expedites transactions but also drastically reduces the costs associated with liquidity pool (LP) creation. While it may cost close to $1000.00 to create an LP on Solana, it’s practically free on Credit Smart Chain. For those seeking to experience the benefits firsthand, CSC’s DEX can be accessed at http://swap.teleportstation.io, while the bridge can be found at http://teleportstation.io. This innovative infrastructure underscores CSC’s commitment to providing a scalable and cost-effective solution for projects looking to thrive in the decentralized finance (DeFi) landscape. The pre-sale offering, hosted on Solana, is a strategic move by CSC to solidify community buy-in and support for their scaling efforts on the Solana network. Offering up to 30 billion CREDIT tokens, the pre-sale targets a fundraising goal of 20000 Solana. Notably, the funds raised will be allocated towards liquidity provision (50%), marketing initiatives (25%), and long-term team support (25%), with 100% of LP tokens destined for permanent burning to ensure a deflationary mechanism benefiting the entire ecosystem. How to Participate in the Pre-sale To participate in the pre-sale and seize the opportunity to be part of Credit Smart Chain’s groundbreaking initiative, follow these simple steps: Send a minimum of 0.1 Solana and a maximum of 25 Solana per wallet to either creditweb3.sol or Biw1Gs5FMsmDtAxAL7oZ23vUgFtyErL6gjJasbKNHBB3. Upon completion of the pre-sale, all tokens will be airdropped shortly after the liquidity pool (LP) is live. Remember: 1 Solana (SOL) equals 1,500,000 CREDIT tokens. Valid : 10/04/2024 – 10/05-2024 Don’t miss your chance to join us on this exciting journey towards enhanced blockchain scalability and accessibility! “This announcement represents a significant milestone for CSC as we continue our journey towards greater blockchain accessibility and scalability,” remarks CEO Dan Ronchese. “By choosing Solana for our pre-sale, we’re not only tapping into its vibrant community but also contributing to the expansion and diversification of the Solana ecosystem.” As CSC continues to champion mass adoption of blockchain technology, its Solana scaling solution and pre-sale offering underscore a commitment to innovation and community-driven progress. For further inquiries, please contact Esme’ Wade-Davis at info@creditsmartchain.com or visit https://creditsmartchain.com . About Credit Smart Chain (CSC) Credit Smart Chain (CSC) is a forward-thinking blockchain project established in 2018 with a mission to make blockchain technology accessible to all. Renowned for its speed and affordability, CSC provides access to Ethereum’s ecosystem of tools for building EVM dApps and tokens. Committed to scalability and accessibility, CSC remains at the forefront of decentralized finance (DeFi) innovation.

fetushippo

Does anyone know why I can’t see my tokens in osmosis DEX ? Trying to swap my saga for atom but shows my balance is 0 even tho I have 200

zesushv

This is the simple truth. The redundancy of Litecoin especially in the utility department is mostly associated with its deficiency in the DEX/DeFi area. Hopefully, with interoperability solutions like Zetachain addressing the cross-chain dilemma, we can expect that to change in the nearest future.

Deep-Cow9096

I had a little TON before. Last I had looked on defillama, it wasn't great but looking at it now, about $150 million across its DEX's in liquidity. I'm going to look more into TON for if eventually it has a memecoin and airdrop mania like on Solana

Django_McFly

For CEX I just use Coinbase. For DEX's, I don't care. I just use aggregators and they find the best price.

Objective_Digit

> It's the only real DEX that can handle fiat transactions. The only useful one then.

Complicator84

Biggest DEX on Arbitrum GMX does. GMX token for 30% ish of the fees, then you can get specific GM pool tokens for the other 70%

leqlatte

just read a few bits but it sounds like garbage honestly > After BTC and ETH it has the third most vibrant developer community. source?? As far as I know the most active on Github after Ethereum are Paritytech (polkadot), InputOuput (Cardano) and Hyperledger > It's at the center of the freedom/privacy tech movement. DEX and atomic swaps, P2P markets are all built around Monero. isn't [renegade.fi](https://docs.renegade.fi/) one of the most important dark pools? It's on Ethereum I think

IMjust

If you are after low fees check Bitcointry - CEX/DEX mix. You trade by connecting a wallet. Low fees and discount if you hold their native token. Last time I checked checked fiat fees checked fee is around 1.25-1.5% compared to 4-7% via Metamask or 5-6% on Coinbase. See if you fancy it.

Kingpander

You are wrong. It is consiered transferring crypto to yourself not selling crypto. As per this source you provided they consider the sale of one crypto like btc to fiat and then fiat to eth. If you do an atomic swap of btc to eth it is not “selling” as per the definition. From the coinbase blog post you shared: “Converting one crypto to another: When you use bitcoin to buy ether, for example, you technically have to sell your bitcoin before you buy a new asset. Because this is a sale, the IRS considers it taxable. You’ll owe taxes if you sold your bitcoin for more than you paid for it.” You will owe tax if you use a CEX like coinbase to trade, since you are buying and selling when ‘converting‘ your cryptos. But you will not if you use a DEX with true atomic swap, as there is no “sale” occurring. There is also no way of knowing the parties involved, or what jurisdiction they are in. By the spirit of the law of taxation it is on income (which doesn’t apply to this example) or on capital gains. Currently the only measure of capital gains occur when you offramp or sell to fiat. Good luck to the SEC in trying to regulate and control DEFI. The only possible way is by going after the doxxed developers of the tools we use in the space, which they realize and is exactly what they are now doing. But to regulate and control all of DEFI is truly a fool’s errand. Never going to happen.

pedro7

You can swap native BTC or ETH directly to USDC or USDT via the Thorswap DEX. I'm planning to do the same as you during the bear, and will probably be splitting my holdings half in USDC and half in USDT.

milliardo-bastion

Which DEX actually gives the holders of the native coin a percentage of trading fees? I recall UNI was supposed to do it but then ended up not going for it. Surely there is other DEX's who do have that feature. Otherwise what is the point of holding UNI or anything like it if just for governance.

coinfeeds-bot

tldr; QuillCheck introduces an advanced rug pull detection feature designed to protect web3 investments. It offers users the ability to uncover honeypots, understand token permissions, and gain comprehensive market insights to avoid rug pulls and scam tokens. The tool uses interactive charts and risk indicators for evaluating token safety on multiple chains, analyzing over 25 smart contract and market condition parameters. QuillCheck also provides instant alerts on suspicious tokens, making it accessible for both new and experienced investors. Additionally, it offers APIs for DEX users, blockchain explorers, and launchpads for instant risk assessments and safe listings. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DC600A

I am all for illumineX - Oasis Sapphire-powered [confidential multichain DEX ](https://twitter.com/OasisProtocol/status/1777781090977276116)which is soon going to be omnichain. It currently offers cross-chain swaps at affordable gas fees among top EVM chains. It is in the process of implementing EVM<>non-EVM swap. First in line for non-EVM integration is Bitcoin. It is also developing gasless account abstraction stealth wallets.

IdentifyAsUnbannable

That's where I'm at for the time being as well. Just hangin out in cold storage. I'd like to learn about DEX's bc I was initially attracted to crypto via DeFi.

jpoptarts

I thought uniswap was a DEX? what can the government do to a DEX?

krypto_krusty

Komodo Wallet - It's a true p2p DEX that uses atomic swap technology to trade between different blockchains and even fiat. You can directly swap BTC, LTC, KMD, to ETH, BNB and all their ERC and BEP tokens unlike uniswap. You can also go directly to a private anonymous coin from any blockchain as well. It's totally different to what you have used before

R4ID

the XRPL DEX, it was the first ever created, it has the lowest possible fees, it has the more currency pairs than any other exchange/dex, not a lot of people know about it or use it correctly so there's often a lot of opportunity's for arbitrage, You can exchange and redeem profits for real world value IOU's; IE I convert some of my trading profits into an IOU that represents XAU(Gold) and redeem them to get them mailed to me IRL. with the AMM launch about 24 hrs away, Autobridging and EVM sidechains now paired up with it, as well as Ripples Stablecoin expected later this year (probly around Oct/Nov "Swell" timeline) its crazy to me that more people dont use it.

_studio_sounds_

Been with Binance since 2017. Works perfectly for what I need and interfaces seamlessly with Mizar for auto trading. For DEX, I'm mainly looking at Sol pairs on Dexscreener. I use Jupiter, over Raydium, when I can. Looking into Phantom. I got scared off when I went to install it and Chrome notified me that Phantom would have permission to read/write and change all personal data. Anyone using it and happy with it? Does it seem safe?

conceiv3d-in-lib3rty

Your point is very well just as valid though. If DEX’s were actually decentralized exchanges like they were supposed to be, this wouldn’t even be an issue.

mylifesucks444

They can take down all the DEX's they want. All they're doing is promoting an environment where you'll have to seek out the next option just like anything else. Instead of trying to go after a giant like Uniswap and labeling them as malevolent, they should foster their growth and seek to integrate to an extent.... Please don't force those who want to use a dex to go to a shadier less known environment.

HKBFG

they picked the largest DEX.

Fair_Raccoon9333

By this metric, whatever DEX has the bulk liquidity of the tokens you are trading and a CEX only for on or off ramping.

jcpham

We’ve been waiting. Weaponized money is how I’ve always referred to it and rise of the DEX is weaponized finance. It’s always been an attack or antithesis of fractional reserve lending and inflationary economic theory

defidigs

Onboard USDC from Coinbase to a wallet, use a DEX aggregator like LlamaSwap or Odos to swap into the asset you want. Lowest fees possible.

RageKage559803

I've used all the major CEX. Right now, mostly crypto.com. Coinbase was my go to for a while though. Generally, just Uni and pancake for DEX.

Smiling_Jack_

They've been anticipating this for a while. Many new DEX's and airdrops straight up geo block the US on their front ends from the get go now.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c0sg1j/sec_moves_to_sue_uniswap_in_bid_to_hobble/?sort=controversial). Doesn't work on mobile.

benmck90

Yeah, I use CDC as my CEX and VVS as my DEX. Easy on ramp and offramp.

camehere2

Osmosis. Phenomenal DEX that keeps improving. It's for the Cosmos ecosystem though.

superweep

Loopring wallet with the DEX and Bitvavo! Love em both!

Vegas_42

Favorite CEX is Kraken used with the Kraken pro app. My DEX to go is Jupiter lately.

JimboD84

I use binance for CEX, then send it to either StrikeX wallet and swap there or use their DEX

sponge_hitler

The only DEX i use and recomend is Osmosis For CEX i use Binance (non US version) and Bitpanda both have been great so far

CointestMod

#DEX Con-Arguments Below is a DEX con-argument written by Nostalg33k. > # DEX: A contradiction to mass adoption. > > DEXes are a big part of the crypto economy, yet they have a lot of problems. I will present the main problems with dexes: The complexity of the legal ramifications, the liquidity problems and finally the lack of on-ramp system. > > # Introduction: > > Decentralized exchanges are systems allowing people to directly swap a cryptocurrency for another cryptocurrency. > > Main examples include PancakeSwap, SushiSwap, UniSwap and RcpSwap. These platforms mostly work through Liquidity providers (LP) and Yield Farming through transactions fees. > > While they can be usefull depending on your use of cryptocurrencies, they can also have issues which aren't going to be fixed anytime soon. > > &#x200B; > > # 1) The obvious legal problems > > &#x200B; > > There are obvious legal problems inherent to P2P trading. You don't know who will be using your P2P system. Since Dexes don't comply with KYC they can work with unlawful parties such as but not limited with sanctionned countries, organized crime, terrorists, hackers and your shady government officials. > > As a liquidity provider, are your lending your money to offer trading services? Are you offering banking services to people if you allow them to lend money to others. There are far reaching implications raised by Dexes. One can only wonder how long until they are regulated out of existence because they seem like the dark alley of the crypto space. > > &#x200B; > > # 2) Liquidity providers, the true bag holding strategy. > > Liquidity providers are the key to the inner working of Dexes. In order to have enough tokens to allow trading, you need to have enough liquidity in both sides of the pair. Obviously you can use more complex paths (A token for B, B for C and C for D when the custommer wanted to do A to D) if there is no liquidity in a given pair. > > Liquidity providers can see a pool be drained of one side of the tokens and the other side can depreciate leaving people with massive losses. > > Lastly a pool can be drained because of an exploit. > > All these risks are faced solely by the liquidity providers. While CEXes are also vulnerable to exploits, they are more safely managed through assurance and reserves in multiple assets (non crypto assets) > > # 3) Dexes will never popularize enough. > > Dexes are a niche tool, yes they have a looooot of value locked in their liquidity pools BUT a lot of our tokens aren't really liquid (Spoiler: there is not a trillion dollars in crypto currencies, the market cap is far from reflecting the liquidity of our assets). I'd argue that their big numbers are a trap. They are actually incapable of becoming popular for the common man. > > Most people will not want to have to go through multiple plateforms to check prices and liquidity; they don't want to worry about slippage and they just want a smooth experience. > > While CEX are not protecting them from these problems, they allow for a smooth ride and for people without technical knowledge to buy and send cryptocurrencies. > > The lack of on-ramp to transform USD or EUR into crypto is the final nail in a sturdy coffin. > > &#x200B; > > # Conclusion: DEXes are only good for power users. > > I'd argue that in this small essay I haven't provided reason to turn your back to Dexes. But the lack of simplicity means that the average investor may not need to know much about Dexes and can stay using CEX and their own wallet to really own their crypto (not your seed not your coins) > > If you have to use a DEX ask yourself, could you do the same in a CEX? If the answer is yes, then most people in your situation would prefer the simplicity of a CEX. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

CointestMod

#DEX Pro-Arguments Below is a DEX pro-argument written by Shippior. > A Decentralized Exchange, often abbreviated to DEX, is an exchange that does not belong to a central entity and all transactions happen on a blockchain. The three largest DEXs by [Total Value Locked](https://cointelegraph.com/explained/what-is-total-value-locked-tvl-in-crypto-and-why-does-it-matter) (TVL) are [Curve Finance](https://curve.fi/#/ethereum/swap), [Uniswap](https://uniswap.org/) and [PancakeSwap](https://pancakeswap.finance/). For a full list of DEXs see this [dashboard](https://defillama.com/protocols/Dexes). > > The largest difference between a CEX and a DEX is the way that liquidity is provided. Most CEXs use an [order book](https://learn.bybit.com/trading/order-book-explained-for-beginners/_ style ) for transactions. Most DEXs employ [Auto Mated Market Making](https://blog.0x.org/market-making-in-defi/) (AMM). These type of transactions are essential for operating an exchange with low liquidity. The supply and demand are matched by a protocol to prevent orders from not being fulfilled for a long time as there are generally less transaction offers available when there is lower liquidity. > > AMM works by users "lending" their crypto as collateral for others to trade. This is done by depositing tokens in a [liquidity pool](https://www.moonpay.com/learn/defi/what-are-liquidity-pools). Users are often provided incentive by the protocol to deposit their tokens by receiving a fixed interest rate on the crypto that they deposit. Therefore users who wanted to hold their crypto for the long term can actually put them in a pool via a smart contract to earn interest on this crypto without having to trade it whereas it would be collecting dust on an CEX. APRs are as high at 100%+ on larger DEXs like [Curve](https://curve.fi/#/ethereum/pools) and higher than 250% for smaller DEXs like [Crescent](https://app.crescent.network/farm). > > Trading fees of DEXs are mostly rather straightforward. Uniswap take a flat 0.3% trading fee, just like [Osmosis](https://osmosis.zone/) on each trade on top of the network transaction fee. Transaction fees can go as low as 0.02% for Curve Finance. These swap fees are provided to the people providing liquidity in the pool as an incentive for putting in their crypto. > > All trades made on a DEX are available as they can be found on the blockchain. Therefore it is possible to base your trading activity on the activities of other people. This also means that you can verify that your assets are where you think they are at all time. Your assets can not be lended to other people without you knowing of it and in most cases without you agreeing to it through the use of a smart contract. > > Compared to a CEX (with the exception of Coinbase) it is possible to own a part of the DEX. Many DEX have their own tokens. For example Curve Finance has [Curve DAO](https://coinmarketcap.com/currencies/curve-dao-token/) and Uniswap has [UNI](https://coinmarketcap.com/currencies/uniswap/). These tokens are used to pay for transaction fees on the DEX, they can be just held on to in the hope of them increasing in value but most important of all these tokens can be used to participate in governance. Everyone can put a proposal for improving a DEX, see the [Curve DAO](https://gov.curve.fi/) as an example for this, up for vote and everyone that owns the token of the DEX can vote (mostly 1 token = 1 vote) to determine how to go forward. Thus one can decide how to go forward to make the DEX even better. Something that is almost entirely impossible with a CEX. > > Privacy on a DEX is much better than on a CEX. On most DEXs no Know Your Customer (KYC) is required, a wallet that can not be linked to the person that is using it is sufficient. > > DEXs can have all assets on their platform that are available on the blockchain itself of made available through wrapped assets by [bridges](https://blog.liquid.com/blockchain-cross-chain-bridge). In theory the number of bridges that can be made between blockchains is infinite thereby the number of assets that can be listed on a DEX is also infinite. In reality though there are only bridges between the major blockchains available at the moment. This still provides plenty to chose from. According to Coinmarketcap there are currently [935 coins](https://www.coingecko.com/en/exchanges/uniswap#:~:text=Currently%2C%20there%20are%20938%20coins,a%2024h%20volume%20of%20%24319%2C357%2C719.14.) available to be traded on Uniswap and [3,223 coins](https://www.coingecko.com/en/exchanges/pancakeswap) on PancakeSwap. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

CointestMod

DEX {{pros}} & {{cons}} with related info are in the collapsed comments below.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Osmosis](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_osmosis), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Related subreddits: r/DEX, r/DeFi, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c0n629/which_dex_or_cex_do_you_use_and_why/?sort=controversial). Doesn't work on mobile.

Existing_Muscle_4219

Binance CEX StrikeX DEX

Luc1nity

After asking I'm thinking a DEX isn't best for plebs because the gas fees will eat up buying power as the funds move around. I'm wondering if the lack of spread will make up for this. I really like uniswap interface.

MythicMango

Stellar DEX there's anchors for every token you can think of. atomic swaps guarantees you always get the best price. the network is fast and is extremely cheap to use (.0001 XLM)

Realistic_Gold2504

>Are there better and cheaper ways to swap coins nowadays? On ETH, CoWswap is worth checking out if you haven't seen it. They use an approval of the token you're swapping and then you can sign for transactions from there. The fee comes out of the swapped tokens, not ETH. So you still pay somehow. I find it preferable at times, especially if I'm transferring the USDC elsewhere which it can do in one transaction. On an L2, you might as well use Uniswap or whatever the top DEX is on whatever chain you end up on. Defillama has their swap price checker as well that works on nearly all the chains.

WinnerOfChickens

As others pointed, I would simply move my BTC from the DEX to my Ledger. Keep it in cold storage long term. You do whatever you want, but that's what I would do.

Ofulinac

You can always trade them on the Camelot DEX on Arb One. Holding Moons is an easy long-term choice, though.

GoodSamoSamo

did you not read what I said? ADA falls in that 2016-2018 camp. People shitting on it because it actually sucks and has no usage. ADA been around for 8 years, nothing to show for it. 1 TPS, relatively weak TVL, virtually no DeFi activity, no NFT presence, terrible DEX volume, virtually no stablecoins (not even USDT or USDC), no institutional interest (Grayscale just removed them from their institutional product list and Coinshare Fund Flows show virtually no interest in ADA ETP products), no serious investors or influencers in crypto support it or care about it, etc. The list goes on and on. Cardano is a garbage chain that is run by a sociopath and has a VC arm that is in charge of making ecosystem investments to attract builders - which it has failed horribly.

CointestMod

* Relevant Cointest topics: [Uniswap](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_uniswap), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official and related subreddits: r/DeFi, r/DEX, r/UniSwap, r/Pancakeswap, r/SushiSwap, r/Bisq, r/JustSwap. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1bzjfvi/crypto_trader_eisenbergs_110m_fraud_trial_to_put/?sort=controversial). Doesn't work on mobile.

conceiv3d-in-lib3rty

I don’t understand this at all. Cronos’ biggest DEX has the same TVL as mother fucking Loopring and is doing ~$5m in 24h volume… It has not become quite the hub at all. I can only assume these are CRO holders throwing money at this trash hoping it hypes their, still down 85% from ATH, bag.

Loose_Screw_

Or a chain where the go live of a single DEX crashes the entire chain into a borderline unusable state and still has no organic activity, meme coin or otherwise? Doesn't seem like anyone is really winning this race atm.

AskMeIfImAnOrange

Uniswap is a DEX (decentralised exchange) as opposed to a CEX (centralised exchange) like Binance, Coinbase, etc. Basically it operates on the blockchain instead of on a company's servers. So there is a higher level of trust with DEX'es. CEX'es use order books. People send their tokens to the CEX and place buy or sell orders for the tokens at the prices they are willing to pay or sell for. Similar to share trading. DEX'es operate using liquidity pools. For a trading pair e.g. ETH/USDT, people who want to contribute to the pool put an equal $ value of both ETH and USDT into this pool. They are called liquidity providers (LP). They earn a proportional cut of the trading fees charged when users buy or sell the tokens. If a user buys ETH, ETH will leave the pool, USDT will enter it and the cost of ETH will go up. And vice versa. People who contribute to the pools take the risk of ending up heavy on one or the other coin and it is a judgement call as to whether it is worth it for the fees earned. The more funds in the pool (i.e. higher liquidity), the less any one transaction will move the price. Anyone can set up a DEX pool, so it is popular with new token launches as they can set up a pair and provide the liquidity for their users to get started. They don't have to convince a CEX to list their coin, there are no set up fees, they are not at the mercy of the exchange's timescales. With a DEX users buy and sell directly from their wallet (e.g. Metamask) so you always hold the tokens and the risk is fully yours. Your tokens are not sitting on someone else's servers and so aren't subject to them being hacked or the exchange suddenly deciding you are a terrorist and lock your withdrawals. Or have them plain steal your tokens and do dodgy shit with them, like FTX. Most CEX'es require KYC which is a problem for a lot of the world, and many CEX'es will only accept users from certain countries. DEX'es do not (currently) require KYC, although the US is trying to change that. As DEX'es operate on the blockchain, you have to pay a blockchain fee for every trade (plus the DEX buy/sell fee). This can get expensive if the chain gets congested and is a common complaint. Etherium fees can get into the hundreds of dollars when things go crazy. Right now a blockchain trade fee is about $15-20. This is a flat fee whether you buy/sell $100k or $100 - it's literally just a fee to the blockchain miners to process a smart contract. So it sucks for small trades. Other blockchains and L2's have lower fees, but ETH is still king at the moment for options and liquidity. Long-story short, with a CEX you are trusting a third-party with your tokens (like a bank). With a DEX, you hold your own tokens in your own wallets, and only trust the DEX'es on-chain smart contracts for a few seconds when you do a trade. Some people would prefer a more familiar system and trust a third-party with their tokens, some people would prefer to hold their tokens at all times. There are pro's and cons to both.

BLenjoyer

I understand how to swap or buy DEGEN on a DEX such as Uniswap, but I can't seem to find a wallet that is able to store it. can anyone give me an idea on what to do for this?

Ofulinac

The poll just needed to be better and separate Cex from DEX. Solid results and participation though.

Ready_Angle5895

Just invest into 100m-10b market cap coins depending on your risk and don’t touch it until you somewhat have a clue of what you’re doing. No random coins from DEX.

Avanchnzel

Maybe the intention was not to actually distinguish between the two. They *are* both exchanges. So if you'd buy on either a CEX or a DEX, then the answer "Exchanges" would fit. Though I would've at least expected an "Other" option, to capture all the people who'd use none of the three given options.

SunliMin

Yeah bad design. It should be: \* CEX (Centralized exchanges, i.e. Coinbase, Binance, etc) \* DEX (Decentralized exchanges, i.e. LN Exchange, Uniswap, etc) \* OTC Services (P2P with a business) \* Family / Friends / Markets (P2P with a person) \* ETFs \* Bitcoin-adjacent Investments (i.e. Mining stocks)

SoupaSoka

DEX being counted as P2P is confusing, because a DEX is also an exchange. Bad poll design and it's gonna be inaccurate.

AsbestosDude

This poll is trash because when I see "Exchange" it's unclear if that CEX or DEX P2P is more like OTC. you should redo this poll because it's just confusing and your data is going to be crap because i legitimately did not understand the answers as you intended.

Sad-Commission-999

Where's the DEX option?

DigitylRise

Base doesn't, however it's said AERO is the token Coinbase wants to represent Base for their DEX

Logical_Lemming

It is. I don't understand why people are going crazy over a fork of a DEX, but then again I don't understand much about the crypto market these days. And the FDV is $1.85 billion! Like guys, you're gonna get dumped on if you buy now. You're gonna get dumped on sooo hard.

cccc0079

I farmed and sold all of it for a long time. Made good returns. Imo Aerodrome is the best DEX on base.

TheExpensiveGoogle

The first ETF that trades human gullibility is your only chance. If the token is listed on a perpetual DEX or a CEX you can short it there but apart from that there is no other way.

DigitylRise

AERO is a token, used to vote for LP pools in their DEX. It will also be used to govern the rate of AERO emissions later on after the 67th epoch. Right now they are minting AERO (think like mining) and people who provide to the LP pools are earning them. This is by far the BEST Tim's to earn AERO as emissions are high because TVL is low. After a year or so it will be very hard to earn over 100% APR. This coin is gonna be huge this bull run as Base is just starting and many projects are building on it. Plus Coinbase is moving all their user USDC funds to the Base network.

RefrigeratorLow1259

Not exactly the same, but MELD on the Cardano chain, decided to migrate to a new MELD token, I think because they wanted to use AVAX, hence having to faff about with users creating a MELD wallet and stuff, worse was that the wallet was linked in with Google! Can't swap the old to new without it and can't use a DEX.....Guess they are hoping that at end of year they can reclaim the non migrated tokens to their treasury! 🙄

GabeSter

Additionally Moons that are on Celer and DEX currently don't have voting weight. I think we'll be fine but just to be safe... Vote in case you haven't.

GroundAcrobatic2623

If you're not investing in DEX coins, you're missing out. Lots have quitly done 5x to 10x in the last year, regardless of ecosystems. Leave the meme token alone.

naelastr

Don't even remember that listing rn. It's on Gate, Binance, several other big exchanges, alongside DEX'es of course. Gonna be an interesting summer for them, given all the recent development they have been announcing. We'll see what happens in the market after the halving tho, anything's possible

VoxImperii

I remember there was this proto-DEX back in the day, it looked like the blue screen of death with just very rudimentary displays of currencies and numbers… How far we’ve come.

Equal_Classroom_4707

BTC getting lost is a feature. Also, the OP is being baity with saying "6m+". A ton of BTC have never moved. If you know how to self custody, you have zero reason to switch something that's safe to another safe, especially digitally.  In that figure, most lump in early adoption coin, as well as seized coin, which usually gets resold at auction. I have no doubt there are millions flushed, but that figure is not 6.  Now add in the fact that the majority of transactions are occuring on layers (CEX, DEX). Now add in the fact that an additional layer is being added and used (backdoor off-chain brokerage and institution CEX). And at this point it's Square, and Coinbase, and Binance changing the ownership name of a coin in cold storage, while a brokerage reflects you owning a share in an account.  And if you're capable of typing, and have any skin in this game, learn to self custody and get come CLI experience while you're at it ;)

Just-Consequence2359

Start learning the DEX (decentralized) processes. The crypto space is very unforgiving and unfortunately, I have never seen a place that you can lose money so easily and quickly due to lack of information, lack of transparency, and scamming. I would not recommend investing in any of the programs but to find a good strong community to join where you can ask questions or where you can gain good mentor. Do not be in a rush to invest or spend money right away as you are more likely to lose money that make gains until you learn more about the space. I jumped in head first years ago and lost thousands.  I have been in crypto ever since and have learned a lot through my experiences; however, that is not for everyone and many people leave crypto (which is a really innovative and inspiring technology) due to negative experiences linked to lack of understanding and misinformation.