I had my first experience using a decentralised exchange this week and was pleasantly surprised! I used Switcheo and purchased using my Neon Wallet. It was a simple task of creating a burn wallet and purchasing the Switcheo without my Neo leaving my Neon Wallet.

Yes, the interface isn't yet on the level of Binance, but it is very early days. As a new DEX, Switcheo was brilliant to use and it opened my eyes up to why there is a ridiculous amount of hype around the upcoming Nex exchange which could well prove to be a game changer.

What are other peoples opinions on the rise of decentralised exchanges? 

Original Post

I am keen to try a DEX, I agree with @Sergei in that I like the user-friendly interfaces of centralised exchanges. It good that you had a good experience, it gives me more confidence to try a DEX as I like the security it brings, although I need to buy some Neo first if I am to try Switcheo  

Dr. Rick posted:

I am keen to try a DEX, I agree with @Sergei in that I like the user-friendly interfaces of centralised exchanges. It good that you had a good experience, it gives me more confidence to try a DEX as I like the security it brings, although I need to buy some Neo first if I am to try Switcheo  

Just dropped 14% 😉 Dex are just starting and Switcheo is doing great. Nex is coming. I see big potential here.

This is an interesting discussion from a personal point of view.  Wallets and Exchanges today remind me of the very first internet tools which were clunky and usable only by true techies.  When the first  graphical browser came out exactly 25 years ago it opened the market a thousandfold.

I see that happening now with wallets and exchanges designed for the masses.  Crypto for non-crypto people ...  

Michael Farris posted:

This is an interesting discussion from a personal point of view.  Wallets and Exchanges today remind me of the very first internet tools which were clunky and usable only by true techies.  When the first  graphical browser came out exactly 25 years ago it opened the market a thousandfold.

I see that happening now with wallets and exchanges designed for the masses.  Crypto for non-crypto people ...  

I agree,I find it fascinating on a personal level too, however I think wallet keys are still too technical and need to be packaged up into a nicer entity so you aren't dealing with private or encrypted keys. Then I think we will truly see the doorway open to non-crypto people !

@Dr. Rick There are many initiatives and progress taking place as we speak to make Decentralized Exchanges more appealing and accessible to the masses. Switcheo will shortly be releasing a new UI which will be more friendly to interact with, along with Ledger support being added in the short to medium term.  NEX is certainly rumoured to have FIAT to Crypto functionality which is a huge step in the right direction, however Switcheo might steal a march if they can progress at their current pace.

@Whitmal I respectfully completely disagree with your comments, we DO need decentralized exchanges more than ever, people do NOT want to leave funds on exchanges with the risk of hacking. If proof is needed, look at Binance, they are going to be releasing their own decentralized exchange, that must tell you something? 

I think this is really exciting times, the dream is to have a Decentralized exchange which looks and acts like a Centralized exchange.

RobbyCannard posted:

@Dr. Rick There are many initiatives and progress taking place as we speak to make Decentralized Exchanges more appealing and accessible to the masses. Switcheo will shortly be releasing a new UI which will be more friendly to interact with, along with Ledger support being added in the short to medium term.  NEX is certainly rumoured to have FIAT to Crypto functionality which is a huge step in the right direction, however Switcheo might steal a march if they can progress at their current pace.

@Whitmal I respectfully completely disagree with your comments, we DO need decentralized exchanges more than ever, people do NOT want to leave funds on exchanges with the risk of hacking. If proof is needed, look at Binance, they are going to be releasing their own decentralized exchange, that must tell you something? 

I think this is really exciting times, the dream is to have a Decentralized exchange which looks and acts like a Centralized exchange.

@RobbyCannard I look forward to the new Switcheo ui, I hadn't realised they had planned an update so soon after launch, Ledger support in my opinion is a must and is that step required to bring it to the masses.

Yes @Dr. Rick, I don't mean to sound like I am promoting Switcheo but I truly believe they are on the right track and have stolen a march on NEX. It is easy to say Switcheo looks substandard compared to Binance, but you must remember Binance has been around a LOT longer, give it a chance. I believe NEX will be a lot more polished and provide an experience very similar to Binance, however I can also see Switcheo being extremely quick to evolve.

I am truly excited to see these DEX's progress, they ARE the future and will encourage adoption as your tokens/coins never leave your secure wallet. 

Also, another great update is that Switcheo will shortly implement off-chain which will significantly decrease processing time. This is an exciting period to be involved in Crypto, it is easy to be negative but much more rewarding to positive and appreciate that we are all very lucky to be early adopters of this technology.

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