Ninjastic
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Board Altcoin Discussion
Re: Making money through DEX fee's. The next big thing?
by
enhu
on 14/11/2019, 19:14:57 UTC
Quote from: GucciBoy on November 14, 2019, 07:08:23 PM
Quote from: boris1044 on November 13, 2019, 07:40:08 PM
Quote from: GucciBoy on November 13, 2019, 07:09:22 PM
Quote from: Wintersoldier on November 13, 2019, 02:30:19 AM
Quote from: crazy-pilot on November 09, 2019, 05:56:34 PM
I really like decentralized exchanges and I hope that they will become popular in 2020. However, many people do not use decentralized exchanges due to trading volume.

honestly, it is not just the trading volume that I consider in choosing an exchange. I am also not certain to connect my wallet directly to the dex exchange, though I have the private key, the regulation, and convenience that a centralized exchange is what I want to consider. Most of the time, the volume in DEX is determined by traders, and it might not be the reason why people don't want to trade in DEX since the volume can be achieve if the crpyto do really is performing well in the market. It is the regulation that centralized exchange provides, despite of wallet security or also known as "not your keys, not your coins".

True! A friend of mine has traded on DEX's for a few months already, and otherwise used exchanges with no KYC. He's a very "private" person, told me NOT to tell anyone of our friends that he even owns any crypto.
There's a LOT of people who straight up AVOID exchanges with KYC, because they want to remain private. Makes sense, it's the reason BTC was created in the first place. It's nobodys business what you trade and hold.

Guess what? KYC/AML is coming to every exchange, be it a CEX or a DEX.

No it's not. What makes you even think that? A real DEX is not owned by anyone. Based on your logic, everyone of us would have to undergo KYC every time we access the internet, which isn't true at all. Use a prepaid phone, and jump on an open Wifi connection, and you're pretty much anonymous.

I think you need to do some research here buddy, as decentralized trading works just like when you download torrents. These transactions happens between users, and no one else.

Several DEX are owned by people just like Mcaffees and Ivanov, there is a possibility that they may ask KYC if government asks them to. The one DEX that might not really be compromised by government is blocknet since you can install the exchange itself. The problem with blocknet is that there isn't much coins listed to it, they don't even have ETH there.