I hear Binance is bringing one online but was wondering about the KYC that it would require.
In General, it seems that the advantage of a DEX is the lack of KYC although maybe that will be changing.
The fundamental problem that people have brought up is the fact that setting up a DEX for their coin seems to be hard.
Are there simple ones out there?
I think the problem with DEX is currently cross-chain transaction. For example with DEX exchanges like Fork delta, IDEX, you can only trade with the ERC20 token on the ETH platform, similar to Binance DEX only allowing token trading on Binance Chain.
The advantage of DEX is that you still manage your wallet, trading through smart contracts, so it's safer than other centralized exchanges. And DEX does not ask KYC as you say. And for your question, IDEX is still the best choice with friendly UI and good volume.