Quote from: Despairo on July 19, 2022, 03:02:03 PM

Quote from: o_e_l_e_o on July 19, 2022, 02:28:25 PM

Quote from: datguy on July 19, 2022, 11:22:37 AM

Today, these are the two largest exchanges with huge liquidity, DEX will not replace them, which means you will pass KYC anyway.

A DEX will replace them for you if you want it to. I've never so much as registered on any centralized exchange and I've certainly never completed KYC at one, yet I would bet that I buy, sell, trade, and spend bitcoin more than ~99% of the user on this forum. I certainly wouldn't be giving up all privacy for the sake of $20 worth of some shitcoins (never mind the fees I would pay to the centralized exchange just to be allowed to swap that shitcoin in to bitcoin and withdraw the bitcoin), and I'm certainly not letting Coinbase sell my data to a data broker and risk identity theft for $20 of some shitcoins.

I believe he didn't even use that DEX or instead using a fake DEX e.g. pancakeswap, uniswap, shitswap etc lol.

Actually I wonder why people really need Bitcoin ASAP, like they didn't have many times to wait even for few hours or a day, if you're trading with BTC/USD or Euro pair your orders on Bisq would be completed for few hours or a day. I think when you're want to start invest on Bitcoin, you're only use your extra money, not all of your money including your emergency money.

Personally I prefer to wait more longer to complete my transactions rather than waiting my coins will be unfrozen after I submit my KYC, the another thing is waiting to be completed KYC is long too.

So you wanna say, that PCS and Uniswap are fake DEXes? So what is the normal DEX in your opinion?

Quote from: o_e_l_e_o on July 20, 2022, 09:05:57 AM

Quote from: Despairo on July 19, 2022, 03:02:03 PM

I believe he didn't even use that DEX or instead using a fake DEX e.g. pancakeswap, uniswap, shitswap etc lol.

This is something I see often. People who have never actually used a DEX talking about how there is too low volume or it is too risky to trade with other people. Meanwhile I've been using DEXs exclusively for years and have never once been scammed and never once struggled to find a trading partner (although maybe that's because I only trade in fiat/Bitcoin/Monero and not a bunch of useless shitcoins).

I have been using DEX quite successfully, not for the first year. If I am new to the forum, it does not mean that I am new to crypto. I really enjoy using DEX, but just because you haven't been scammed doesn't mean everyone is. I'm lucky, I'm pretty neat about it too. But trust me, I'm on some of the biggest launchpads, and even there people post in chat almost every day that they've been scammed in one form or another. And they lose their money.

Quote from: Despairo on July 19, 2022, 03:02:03 PM

Actually I wonder why people really need Bitcoin ASAP, like they didn't have many times to wait even for few hours or a day, if you're trading with BTC/USD or Euro pair your orders on Bisq would be completed for few hours or a day.

If you are day trading to try to make profits, then sure, a centralized exchange is probably going to be your only option. But for everyone else, there is no good reason to use a centralized exchange. As you say, you don't need bitcoin now, and a DEX will work just fine. You will spend just as long (if not longer) waiting for your fiat deposit to be credited by a centralized exchange than you will waiting for the same fiat deposit to be confirmed by a peer-to-peer trading partner.

It depends on whether you are trading or just buying, or your style in general. I wrote above that DEX will not replace CEX at this stage, not because it is somehow worse. Just in my vision, each of them is better suited for certain tasks. On CEX, it is much more convenient for me to conduct several transactions, set stop losses and takes. Especially if you trade through the terminal.

In conclusion, it seems to me that our conversation went in an inappropriate direction. I just want to briefly summarize my thoughts, if someone has a different vision on this matter - this is his right, just like mine.
1. I'm not saying that you need to pass KYC just for the sake of earning a couple of bucks on quizzes. But if you are planning or already trading on Coinbase - I think this is a pretty cool option, which ideally will give you a little knowledge about this or that project. Yes, I was corrected earlier about Coinbase is only available in 39 countries. Still, it's an interesting addition. ( NOT THE MAIN REASON FOR KYC )

2. DEX will not replace CEX. Yes, at this stage I think so. Of course, you can also swap everything on DEX.
But if you are a beginner, you need to understand the principle of operation, create different wallets (or add networks in the case of Metamask), learn how to use a bridge, have gas for transactions on different blockchains. Conciliator, if you started to figure it out yesterday, it would be harder for you than just creating an account on the stock exchange. Also you are right, for day trading CEX is the only option. But if you are a trader, not just a holder, then from time to time you have to trade intraday when it is the only option the market gives right now.

3.I think both options are good and I use both CEX and DEX. There are pros and cons everywhere. If depending on your activity, you see only DEX for yourself - cool, then this functionality is enough for you.

datguy

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