Are DEX the Next Big Thing in Trading?

[Sarionadukecom]

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 .

[Captain Corporate]

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.

[Sarionadukecom]

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?

[Faisal2202]

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.

[hugeblack]

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.

[NotATether]

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.

[JISAN]

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.

[Smilez]

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.

[SamReomo]

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.

[hugeblack]

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.

[Mr. Magkaisa]

      -    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.

[Sim_card]

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.

[jeraldskie11]

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.

[Mr. Magkaisa]

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.

[NotATether]

         -    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.