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RE: Get Rich or Die's (Always) Fresh List of Daring DEXs (Decentralized Exchages)

in #cryptocurrency • 6 years ago

We understand that our choice of words may have been confusing but it looks like you didn't follow the links. None of these require KYC but every dex requires you to "sign up" or "sign in" somehow, even if it's just with a metamask wallet or ledger address. Feel free to ask us for help in understanding how these DEX work as it seems you are a bit confused about them. We also can't recommend the DEX you you posted as we've never heard of it and the volume and liquidity looks worse than even our smallest picks. Good luck!

6 years ago in #cryptocurrency by
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     6 years ago (edited)

    I have my own understanding what DEX is, and nothing will change it. The rule of thumb is as simple as 2x2 :

    A trully decentralised exchange is the one which do NOT requires any login, sign up or registration. Period.



    Just as I need NO registration to use Bitcoin network.

    When looking to identify if an exchange is truly decentralized, ask yourself these 10 questions:

    1. Does it require an email, Facebook or Google sign up?
    2. Are the coins ever sent to a third party address that is not your own?
    3. Does the exchange use a replacement, IOU / intermediate token/coin or use a coloured coin approach?
    4. Is there a central company, entity or individual running the exchange?
    5. Do a percentage of the profits go back to a company, entity or individual?
    6. Are there withdrawal limits?
    7. Are the orderbooks and order matching centralized?
    8. Are any of the other exchanges four core functions (1-Capital deposits, 2-Order broadcast, 3-Order matching, 4-exchange of tokens) centralized?
    9. Are there any costs to be listed on the exchange?
    10. Can only certain pairs of coins be traded?

    If there is even one single "YES" answer to any of these questions, then it is NOT a truly decentralized exchange. Amen.

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