Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Decentralized Exchanges (DEX) => Topic started by: Thenticity on December 07, 2024, 10:55:30 AM
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I know I used pancake swap a lot in 2022. But since then, I’ve been experimenting and using different DEXs I can’t keep count on.
How about you guys?
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I still use Pancake regularly if I need to trade on the BNB smart chain. Other than that I think I dropped most dexes that I used to use. Heck, the day I visited Forkdelta feels way too far now. I think this shows that the competition is fierce, even though it's good for retail users in general. I think it will be worse if we still see old-school DEX like Forkdelta being recommended today.
I don't recommend using many DEXes unless you revoke their permissions regularly though. There's a chance scammers launch a fake DEX to trick users too.
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When UNI airdropped some of their tokens, they definitely made more users come to them than the PANCAKE however because it's Binance, PANCAKE suddenly just made itself popular overnight.
Like the rest of us, I also tried using PANCAKE for sometime but the spark died after that 2021 bullrun. Good to see a few of us still uses DEX.
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Heck, the day I visited Forkdelta feels way too far now. I think this shows that the competition is fierce, even though it's good for retail users in general. I think it will be worse if we still see old-school DEX like Forkdelta being recommended today.
Could it be a UI problem? Liquidity pool? If it were fixed would you go back?
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I was regular on uniswap for a while because it was simply too fluent compared to previous dexes like forkdelta/etherdelta, but now with the rise of dex aggregators I use those instead.
..Good to see a few of us still uses DEX.
Dexes are making billions of volume, so I think it's fair to conclude that there are more than 'few' dex users.
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Could it be a UI problem? Liquidity pool? If it were fixed would you go back?
Liquidity is the biggest issue. I can live with a terrible UI but a lack of volume would discourage users from using the platform. After all, you can't get your money if you can't trade your tokens. Because the market is so competitive I don't think it would be enough to make me use Forkdelta or something similar again. They'd need to provide something more, like cheaper fees, faster smart contract calls, etc.
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Could it be a UI problem? Liquidity pool? If it were fixed would you go back?
Liquidity is the biggest issue. I can live with a terrible UI but a lack of volume would discourage users from using the platform. After all, you can't get your money if you can't trade your tokens. Because the market is so competitive I don't think it would be enough to make me use Forkdelta or something similar again. They'd need to provide something more, like cheaper fees, faster smart contract calls, etc.
I never found liquidity a problem, any new decent coin launch instantly gets couple hundred thousand dollar worth liquidity. Regarding UI — use different dexes, use aggregators; there are plenty.
Forkdelta went out of league moment Uniswap was launched, it's no longer a viable option.
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When i see that an exchange is truly decentralized, then i maintain it use, i don't have to worry myself on looking after more other exchange which i may not get the reliable information needed about them, i make use of a number of them in the past before deciding on just few once i see to have the desiring qualities needed by me, one of the ones so common is the pancake swap which most of us would have tasted using before.
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I know I used pancake swap a lot in 2022. But since then, I’ve been experimenting and using different DEXs I can’t keep count on.
How about you guys?
PCS ,So far I am using especially bep20 tokens which can be easily swapped through this decentralized exchange. Apart from this I have been using Uniswap Decentralization Exchange and it is the most popular Decentralization Exchange to swap ERC20 tokens.
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Uniswap and 1inch. I have been using both of these since 2020, I am sure about this cause both UNI and 1inch airdrop happened back in 2020 and I was eligible for both of them for trading there.
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Uniswap and 1inch. I have been using both of these since 2020, I am sure about this cause both UNI and 1inch airdrop happened back in 2020 and I was eligible for both of them for trading there.
I use UniSwap, but I don't think I've ever used 1inch even though it's quite famous in the market. If a new DEX doesn't have any special features compared to UniSwap, I won't have a need to use them. In the BNB chain ecosystem, I'm still only using PancakeSwap, in the Polygon ecosystem, I only use QuickSwap, and in EOS, I only use DefiBox.
DeFi is developing, but honestly, I'm not deeply involved like providing liquidity or exploring more utilities from DEXs. I prefer investing on CEXs, and DEXs are where I quickly swap tokens conveniently in a few special cases.
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Uniswap and 1inch. I have been using both of these since 2020, I am sure about this cause both UNI and 1inch airdrop happened back in 2020 and I was eligible for both of them for trading there.
DeFi is developing, but honestly, I'm not deeply involved like providing liquidity or exploring more utilities from DEXs. I prefer investing on CEXs, and DEXs are where I quickly swap tokens conveniently in a few special cases.
Lately, almost all cexes require kyc, so I prefer dexes. You have to pay fee for each transaction, so that's a con with dexes especially on chains like Ethereum where gas costs can be really high, and that's where cexes triumph.
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I didn't need them because it didn't suit for my needs and is that possible for anyone to be a successful trader via DEX? That's debatable.
DEX fee can be very high compared to Binance or any other centralized exchange because the main purpose of their existence is not censoring so it's good for investors who don't want their identity to be reported back to their government but as an actual trader it's not possible to thrive by paying a chunk for every trade.
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Lately, almost all cexes require kyc, so I prefer dexes. You have to pay fee for each transaction, so that's a con with dexes especially on chains like Ethereum where gas costs can be really high, and that's where cexes triumph.
In 2017, I also hated KYC because I believed crypto was anonymous, so I refused to use CEXs and missed the opportunity to profit from many tokens, ultimately losing most of my ICO profits in that cycle. At that time, EtherDelta DEX was quite popular but it had many problems and was not as user-friendly as UniSwap or PancakeSwap.
Currently, I am only focused on investing and accepting to complete KYC on top CEXs to use the utilities they offer. DEX is no longer an attractive option for me even though they are the heart of DeFi.
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I still use DEX but not often due to low liquidity. Even though i’m not a huge fan, i still use Pancakeswap when i want to trade on BSC. Uniswap is still the second popular one I know but i haven’t personally used it yet.
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i have not used a dex for awhile now. the last time i tried using was the mueliswap which is a dex for cardano users when i tried buying ADA. the bridges keeps failing but seem to have purchased some tokens and then back to ADA again.
DEX where Bitcoin and USDT can be used are worth it if the prices aren't so different. but then you are in the mueliswap like i mentioned, it feels like its going to scam everyone with their token (MILK) given the chance of big volume.
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Lately, almost all cexes require kyc, so I prefer dexes. You have to pay fee for each transaction, so that's a con with dexes especially on chains like Ethereum where gas costs can be really high, and that's where cexes triumph.
In 2017, I also hated KYC because I believed crypto was anonymous, so I refused to use CEXs and missed the opportunity to profit from many tokens, ultimately losing most of my ICO profits in that cycle. At that time, EtherDelta DEX was quite popular but it had many problems and was not as user-friendly as UniSwap or PancakeSwap.
Currently, I am only focused on investing and accepting to complete KYC on top CEXs to use the utilities they offer. DEX is no longer an attractive option for me even though they are the heart of DeFi.
- So do you mean Sir that there is no more reliable dex platform in this era of Bitcoin's bull run? Is that what you want to imply in your post? Because honestly I am also having a hard time finding legitimate dex platforms that can be used and can also do trading activities like I do on the top cex platforms today.
Of course I also want to experience being able to do activities on dex protocol platforms so that at least I have assets in these two categories
of exchanges here in the crypto space.
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...Because honestly I am also having a hard time finding legitimate dex platforms that can be used and can also do trading activities like I do on the top cex platforms today.
On which chain are you looking for dex platforms?
BTW, just a word of caution, for futures trading I would not recommend dex platforms, because they are unreliable but for spot trading dex platforms work just fine.
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...Because honestly I am also having a hard time finding legitimate dex platforms that can be used and can also do trading activities like I do on the top cex platforms today.
On which chain are you looking for dex platforms?
BTW, just a word of caution, for futures trading I would not recommend dex platforms, because they are unreliable but for spot trading dex platforms work just fine.
- Maybe under Ton, Base, Bsc, even here it's okay for me, I don't want under solana because there are many rug pull tokens on this network, now in my wishes I'm just not sure from what I see if the protocols I see are really good to use.
So if you have anything to recommend I would really appreciate it and thank you for the effort you'll give mate, this is a big help to me anyway
and thank you also for the advice to avoid futures when using the dex platform.
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...Because honestly I am also having a hard time finding legitimate dex platforms that can be used and can also do trading activities like I do on the top cex platforms today.
On which chain are you looking for dex platforms?
BTW, just a word of caution, for futures trading I would not recommend dex platforms, because they are unreliable but for spot trading dex platforms work just fine.
I think Dexes are still growing in every aspect of crypto trading. Hyperliquid is one of the Dexes I will recommend to anyone looking for a way to trade instead of using centralized exchanges but they should be ready for bugs, unlike many centralized exchanges has optimized their exchange to handle everything, the speed execution and all.
The centralized exchanges are much better but to be at safer side, it's good to put everything you have out of the exchange immediately you are done. Bybit was just recently hack, they are doing well but they are operating at loss with loan ethereum from different venture companies, you never can say who is next.
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...Because honestly I am also having a hard time finding legitimate dex platforms that can be used and can also do trading activities like I do on the top cex platforms today.
On which chain are you looking for dex platforms?
BTW, just a word of caution, for futures trading I would not recommend dex platforms, because they are unreliable but for spot trading dex platforms work just fine.
- Maybe under Ton, Base, Bsc, even here it's okay for me, I don't want under solana because there are many rug pull tokens on this network, now in my wishes I'm just not sure from what I see if the protocols I see are really good to use.
So if you have anything to recommend I would really appreciate it and thank you for the effort you'll give mate, this is a big help to me anyway
and thank you also for the advice to avoid futures when using the dex platform.
For Base and BSC, you an use Matcha (https://matcha.xyz/). It's dex aggregator, meaning it gathers price from several dex platforms for coins you wanna trade and gives you best price amongst them.
TON:
1) https://dedust.io/ 2) https://app.ston.fi/
Please note, I can not guarantee you safety of using above recommendations. It's just I have used these before and I am fine, it may be same in future or not. It's wise to use these dexes with hot wallet with funds you can afford to lose.
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There are a lot of good, reliable DEX that can be used but they vary depending on liquidity and networks.
For BSC I use pancakeswap and 1inch because in my experience, pancakeswap has cheaper fees, but I like 1inch a lot because it has almost all the networks and has a very important feature which is the possibility of using limit orders.
As for Sol, I use Jupiter, which is fast, easy to use and has low fees.