Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Sarionadukecom on June 19, 2024, 08:34:15 PM
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Hey mates. Newbie here... I've been exploring more DeFi recently, and Decentralized perpetual exchange have caught my attention. These platforms allow trading perpetual contracts directly on the blockchain, eliminating the need for a middleman and giving users full control over their funds. Sounds cool sha.
Projects like ZKX, DYDX others caught my attention in this regard... ZKX for example uses ZK-STARK technology to help with scalability and reduce transaction costs. They also feature account abstraction and have garnered early backing from investors like Polygon.
As a trader. Do you prefer Dex or cex for perpetuals futures trading .
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Not a good way to spam, but I appreciate your grind at the very least. DEX has been around for many years now, well not many years in the traditional market sense, but many years in the crypto sense. I think it is obvious that they have a place in the crypto world and people do use them, just not as much as CEX, which is why it is quite important to realize that we are going to end up with a smaller portion of it for sure. There are also a few that gets attention, not the ones you named, those are unknown obviously and nobody uses them, it's the high ranked ones you can see at CMC that gets most of the attention from that small piece of the pie.
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Not a good way to spam, but I appreciate your grind at the very least. DEX has been around for many years now, well not many years in the traditional market sense, but many years in the crypto sense. I think it is obvious that they have a place in the crypto world and people do use them, just not as much as CEX, which is why it is quite important to realize that we are going to end up with a smaller portion of it for sure. There are also a few that gets attention, not the ones you named, those are unknown obviously and nobody uses them, it's the high ranked ones you can see at CMC that gets most of the attention from that small piece of the pie.
No no. Wasn't doing that. Which one the ones that's getting attention..can you share?
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As a trader. Do you prefer Dex or cex for perpetuals futures trading .
I don't prefer perpetual or futures trading in the first place, but if I would prefer to do it (which I won't) then I will prefer CEXs due to the insurance hope they give us. As in DEXs if you ar rekt you are rekt, if you made mistake and lost control of your funds as in some phishing scam then you are rekt and you can't do a thing about it. But if you are trading on CEXs like the most famous or good ones with good liquidity. Then you at least have a hope that you will get some of your funds back if you got liquidated.
Like recently a crypto nerd named person got liqduitdated, his story was shared here before, he was doing long in some meme token and got liqudited lost more than 1 million dollars he made in 2 years. But at the end Binance refunded 18% (CMIIW) of his total investment back and he had something to start his journey again. But he would on DEXs then not a chance, he is gone. Plus if a DEXs gone no refund but if CEXs got hacked, there is still hope. Think about those who are still hoping to receive funds from MT Gox Exchange.
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This question is asked repeatedly and in different ways, but many times you have no choice but to use DEXes, and when there is the possibility of using CEX or DEX, the answer will inevitably differ from one trader to another according to factors such as:
* Number of trading times: The active trader is looking for low fees, so CEX is better.
* - Withdrawal and trading fees: Sometimes on L2, the withdrawal and trading fees for DEX are cheaper and therefore it is the best option.
* Speed of executing orders and trading volumes: In general, CEX gives better results here.
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The D in DEX refers to decentralization, which apparently is only for executing the trade.
Most DEXs are still centralized in many other ways, including creating an account and asking for identification when AML checks go sideways.
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CEX is a good platform for future trading because it can take immediate action. I have no experience trading futures on DEX. Future trading is very risky and behaves like gambling. So I don't advise anyone to do future trading. Because there is a possibility of losing your trading funds very quickly. If you buy a coin at spot, even if you lose, you can hold it until you get the profit. But in future trading your balance will be zero. So it is better not to do futures trading.
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I just researched ZKX, and found out it's like a DEX trying to be like a CEX. They got two UIs, one is for OG Traders, that brings up gamified experience ideal for scalpers, and more etc, other one is Pro Trade, which is designed for advanced traders, and you know, whales.. That brings up more complex order types and API integration. Looks like they got listed on major platforms like Bitget already. This can be a good dex if they succeed.
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As a trader. Do you prefer Dex or cex for perpetuals futures trading .
As a trader I prefer centralized exchanges as a better option than decentralized exchanges. The simple reason for that is the number of active traders who participate in centralized trading exchanges as those people have enough money to push volumes to very high levels and the risk of losing your funds are very low when you trade good coins at centralized exchanges.
I also like the UI of the centralized exchanges as they offer way superior UI as compared to decentralized exchanges. Most of the traders whom we call top level traders prefer to open accounts at centralized exchanges and they enjoy the experience of the tools that centralized exchanges offer.
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I just researched ZKX, and found out it's like a DEX trying to be like a CEX. They got two UIs, one is for OG Traders, that brings up gamified experience ideal for scalpers, and more etc, other one is Pro Trade, which is designed for advanced traders, and you know, whales.. That brings up more complex order types and API integration. Looks like they got listed on major platforms like Bitget already. This can be a good dex if they succeed.
The attempt of decentralized platforms to provide the advantages of centralized platforms ultimately leads to a centralized platform with the disadvantages of decentralized platforms, so unless the project is strong, has developers, and aims to be a DEX, it is best to assume that it is a bad CEX.
btw, listing in Bitget does not give the project value.
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- I rarely use a Dex platform, because I often use a Cex platform that is also on the top list. If I do use a Dex platform, it is Geckotermina, Defillama, Dexterscreener, Quickswap, Uniswap, Biswap, Stonfi, and Raydium. or Jupiter.
It's up to you to do some research on the ones I mentioned, because these are the ones I can say are fine so far, and I haven't seen or heard of any issues with these Dex platforms.
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If you want privacy and anonymity use DEX but if you don't care and you care about that use CEx. However, CEX has more advantages over DEX in term of trading volume and low fee. I always use centralized exchange when trading because of the these reasons.
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Hey mates. Newbie here... I've been exploring more DeFi recently, and Decentralized perpetual exchange have caught my attention. These platforms allow trading perpetual contracts directly on the blockchain, eliminating the need for a middleman and giving users full control over their funds. Sounds cool sha.
Projects like ZKX, DYDX others caught my attention in this regard... ZKX for example uses ZK-STARK technology to help with scalability and reduce transaction costs. They also feature account abstraction and have garnered early backing from investors like Polygon.
As a trader. Do you prefer Dex or cex for perpetuals futures trading .
My personal opinion, I will prefer CEX in futures trading. You can get lowest fee, fast execution, nice feature. The only thing DEX advantage is it's full control of the assets account. If you only trade with a trusted CEX then you don't have to worry about that much. People are still choosing CEX over DEX.
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Hey mates. Newbie here... I've been exploring more DeFi recently, and Decentralized perpetual exchange have caught my attention. These platforms allow trading perpetual contracts directly on the blockchain, eliminating the need for a middleman and giving users full control over their funds. Sounds cool sha.
Projects like ZKX, DYDX others caught my attention in this regard... ZKX for example uses ZK-STARK technology to help with scalability and reduce transaction costs. They also feature account abstraction and have garnered early backing from investors like Polygon.
As a trader. Do you prefer Dex or cex for perpetuals futures trading .
My personal opinion, I will prefer CEX in futures trading. You can get lowest fee, fast execution, nice feature. The only thing DEX advantage is it's full control of the assets account. If you only trade with a trusted CEX then you don't have to worry about that much. People are still choosing CEX over DEX.
- In these situations, the centralized exchange platform really helps me a lot because of the p2p features that it has, and in addition to that, I can also do trading activity via futures trading, where I get profit in my daily life. anyway, always.
With Dex, I only use it when I see a really potential coin, and I will hold it long-term, that's all, but I never do trading activity. I'm not saying that Dex is ugly to use; it's not what I want to point out, but I'm used to only the CEX platform.
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- In these situations, the centralized exchange platform really helps me a lot because of the p2p features that it has, and in addition to that, I can also do trading activity via futures trading, where I get profit in my daily life. anyway, always.
With Dex, I only use it when I see a really potential coin, and I will hold it long-term, that's all, but I never do trading activity. I'm not saying that Dex is ugly to use; it's not what I want to point out, but I'm used to only the CEX platform.
But DEX can do P2P trading. Bisq is one example. BlockDX is another. I have actually not heard of anyone else attempting to create a P2P trading feature since Localbitcoins and Localmonero/Agoradesk closed down. It is complicated, because they all want you to verify your account with an ID, which IMO scares away the P2P traders.
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Hmm DEX's are not new here, so I dont think so that DEX" even stands a chance in being top 5 narratives for this cycle, yup there are some DEX projects really cool and under development or in the beta phase but in my view DEX narrative was enough for only last cycle now its time for the AI, DEP IN, gaming, Socifi and Web 3. Even though there some dedicated chains for the DEX trading as you know high network fees and latency is a big issue here, still it requires some incidents and super developments to shine, as the DEX narrative was good when FTX, collapsed people felt to move and then the CEO of Binance got into it and on that fud as well people thought they need to move on, but that was temporary.
DEX's need to fix this on-chain transaction fees issue + super marketing, then i will say DEX's are unbeatable as you know giants in the crypto industry are these centralized exchanges that controls users' assets and if they get eliminated from there the next giants will be DEX's.
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I never understood why we are always looking for the "next thing" in crypto neither. We should see DEX as just alternative. Just like how fiat will not be gone just because we have crypto, cex will not be gone because dex exists either, we are having both of them at the same time. I think the best way to move with the current situation would be just liking what we have and having more options is always great. DEX usually doesn't get a lot of customers, but also not all CEX does neither, there are some good ones out there which gets most of it, rest are usually not as big as the others if you ask me.
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I use all DEXs as well as CEXs because I browse all the crypto market platforms.
Part of the DEX usage depends on the Coins I earn, and the use of CEX is usually for my day trading.
DEXs and CEXs have their own advantages and disadvantages, and security concerns depend on the user.
Like DEXs that depend on users connecting their wallets, storing private keys securely and CEXs depend on how secure the device is, and the security provided by Cex.
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Projects like ZKX, DYDX others caught my attention in this regard... ZKX for example uses ZK-STARK technology to help with scalability and reduce transaction costs. They also feature account abstraction and have garnered early backing from investors like Polygon.
As a trader. Do you prefer Dex or cex for perpetuals futures trading .
Never heard about ZKX but I heard about DYDX it made people huge losses as its token lost a lot of value. Not a new thing and ZK-Stark technology is also not a big deal. It has been implemented in many projects already. Not a big fan of many Decentralized exchanges and uses only a few for airdrops and other purposes. I would prefer to use Centralized exchanges for trading because it is way easier and convenient to trade on CEX instead of Dex.
I don't think dexs are the next big thing, narratives are changing from time to time, and the current era is of depin, GPU, and AI. I don't know much about Depin but I recently saw a lot of projects coming on this narrative. We should not forget the BTC L2 Dapps narratives that is what is on the peak this time. Babylon is the big thing in this narrative.
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CEX is a good platform for future trading because it can take immediate action. I have no experience trading futures on DEX. Future trading is very risky and behaves like gambling. So I don't advise anyone to do future trading. Because there is a possibility of losing your trading funds very quickly. If you buy a coin at spot, even if you lose, you can hold it until you get the profit. But in future trading your balance will be zero. So it is better not to do futures trading.
Future is a market tool and therefore still has its own value. However, I personally do not trade futures because it is not suitable for the long-term accumulation investment strategy I am pursuing. Future is like a market that requires quickness and short-term trading strategies to optimize profits through financial leverage. Profit goes hand in hand with risk, and I am not willing to accept that risk.
CEXs are famous for Future, while DEXs are only just starting to support this feature. It is a pity that I do not have experience with Future to share, I just want to remind new investors to focus on learning technical analysis and capital management well before participating in future. When a trader is unsure about capital management actions and stop-loss orders, he should temporarily stay away from future.
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I will always prefer DEX to CEX anytime, anyday, and it doesn't matter the type of market we are talking about, and this is because I am somebody that loves freedom..
But unfortunately, if I was to participate in a perpetual futures trading now, I will prefer to do it on a CEX, and this is because, I personally feel that DEX perpetual futures market is not yet developed to the standard of CEX, and this is minus the fact that CEX also enjoy more liquidity and transactions volume per 24 hours.
But then, In the future when DEX becomes much more developeed than they currently are, I will prefer to trade on DEX than CEX.
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I never understood why we are always looking for the "next thing" in crypto neither. We should see DEX as just alternative. Just like how fiat will not be gone just because we have crypto, cex will not be gone because dex exists either, we are having both of them at the same time. I think the best way to move with the current situation would be just liking what we have and having more options is always great. DEX usually doesn't get a lot of customers, but also not all CEX does neither, there are some good ones out there which gets most of it, rest are usually not as big as the others if you ask me.
It's uses to be the next big thing way back and even if we hear a lot of hacks on CEX and people shooting about the used of DEX, I'm under the impression that still there is a small percentage of traders that is using it right now. I uses it way back, but liquidity is a big problem and I can't the way I wanted to, sometimes it will take hours.
So I think the best case here is just used both of them, CEX and DEX and then see how it goes for you. That's the thing with this exchanges is that we have a lot of alternatives and each one of them will bring different experience to traders and then we can decided which one we like so it's not about the hype anymore and we should mature and evolved.