CEX, DEX, P2P - Which crypto exchange do you choose?

[MrSpasybo 1049]

I'm a failed ICO investor, and also an unlucky bounty hunter, so I'm looking to make a profit on the exchanges. The people who make money on crypto exchanges are not only traders, but also many other positions as money transfer service providers, exchanger money between countries or community supporters.

Right now I'm learning about the exchanges that people love, so I want to know what kind of exchanges you love and often use:
1. CEX: I am interested in Binance which has low transaction fee of 0.075% -0.1%, has a large community, has BNB token & BinanceSmartChain ecosystem;
2. DEX: UniSwap is quite famous but higher transaction fee, about 0.3% + gas of Ethereum blockchain. JustSwap on TRON & PancakeSwap on BSC seems to be the better options. DEX does not require the user's KYC;
3. P2P: I often use Binance's P2P to transfer money because it is very convenient to convert stable coin - fiat.

What kind of crypto exchanges do you think will lead the trend in 2021?

[Malik jnb 704]

5 hours ago, MrSpasybo said:

I'm a failed ICO investor, and also an unlucky bounty hunter, so I'm looking to make a profit on the exchanges. The people who make money on crypto exchanges are not only traders, but also many other positions as money transfer service providers, exchanger money between countries or community supporters.

Right now I'm learning about the exchanges that people love, so I want to know what kind of exchanges you love and often use:
1. CEX: I am interested in Binance which has low transaction fee of 0.075% -0.1%, has a large community, has BNB token & BinanceSmartChain ecosystem;
2. DEX: UniSwap is quite famous but higher transaction fee, about 0.3% + gas of Ethereum blockchain. JustSwap on TRON & PancakeSwap on BSC seems to be the better options. DEX does not require the user's KYC;
3. P2P: I often use Binance's P2P to transfer money because it is very convenient to convert stable coin - fiat.

What kind of crypto exchanges do you think will lead the trend in 2021?

I use binance exchange for this cex, dex and p2p. I think binance is good for these. I personally use binance exchange. It is very trusted exchange. It's transection fee is very low. It's security is very high.

[Whited35 15285]

8 hours ago, MrSpasybo said:

What kind of crypto exchanges do you think will lead the trend in 2021?

Since we can have no full control over our assets and activities on the CEXes in a comparison with DEXes but still I love to use CEXes like Binance, Yobit, and Bittrex. No doubt, Binance is my first choice as they offer staking, BNB Vault and many more exisiting features to maximize our earning opportunities. I used to prefer Uniswap so often in past but I left the platform due to high transaction fee to swap the desired tokens. 

Edited February 28, 2021 by Whited35
Minor error in texts.

[MrSpasybo 1049]

@Whited35Initially, we also preferred to use DEX for convenience and safety, as we did not need to move tokens to exchanges. However, when the transaction fees were quite high, even greater than the value of the tokens we wanted to swap, we decided to move all of our tokens on the exchange during times of low transaction fees.
Binance covers all of our needs for trading & staking tokens.

[MrSpasybo 1049]

@realmarksMost of transactions are conducted on CEX instead of DEX, simply because of its lower cost and easier portfolio management, your choice is extremely precise. I am also using Binance and I am completely satisfied with the services that Binance brings to the community. Which CEX are you using?

[kryptonick 2659]

On 2/28/2021 at 1:42 AM, MrSpasybo said:

JustSwap on TRON

I have to try this one day, I have been skipping JustSwap and DeFi on Tron for months, but maybe there is money to be made. The fees in Tron are zero and could help with the rise of DeFi there, as well as have more use cases for dapps and NFT.

[MrSpasybo 1049]

3 hours ago, kryptonick said:

I have to try this one day, I have been skipping JustSwap and DeFi on Tron for months, but maybe there is money to be made. The fees in Tron are zero and could help with the rise of DeFi there, as well as have more use cases for dapps and NFT.

@kryptonickYeah, I also don't have much sympathy for DeFi & NFT but they are still the trend this year, and we just need to make money, not care about hobby ^^
TRON is the leading blockchain in entertainment, I think NFT will be their strength. Now TRON will compete with BSC in the fight for NFT token projects.

Do you have any NFT token? I have Hedge 🙂

[kryptonick 2659]

17 hours ago, MrSpasybo said:

Do you have any NFT token?

I have only some NFT in an Enjin wallet, that I will have to check one day if they have value. You know, Enjin used to give QR codes you were just scanning them and earning an NFT. I did scan around a dozen of them in 2018 and the value must be higher today. Although, I will need to pay a lot in fees and I am not sure if this will be profitable. Even if an NFT in my enjin wallet can be sold for $50 the fees will probably be the same.

Edited March 20, 2021 by kryptonick

[MrSpasybo 1049]

@kryptonickA perfect start to the NFT market, you can expect a layer-2 solution on Ethereum for lower transaction fees, and maybe your NFT assets are many times more valuable now. I am also waiting for these solutions to liquidate my tokens on OpenSea.
We will soon see exchanges dedicated to NFT.

[Ridam 7455]

Well personally speaking, it is our own preference and some find CEX to be easy to trade whereas few choose DEX as they provide non-cutsodial service. For me, I would prefer both and it varies accordingly and depend on different factors like price, coin listing, fee etc. For some coins which are new to the market it is more likely that I would buy them in the DEX as it is more likely that they arenot listed on bigger exchanges and in small CEX the liquidity is pretty low so at that time I would prefer DEX. But for good coins already established coins, I choose DEX over the DEX as the liquidity is much higher and there is good chance to do swing too.

 

[MrSpasybo 1049]

2 hours ago, Ridam said:

Well personally speaking, it is our own preference and some find CEX to be easy to trade whereas few choose DEX as they provide non-cutsodial service. For me, I would prefer both and it varies accordingly and depend on different factors like price, coin listing, fee etc. For some coins which are new to the market it is more likely that I would buy them in the DEX as it is more likely that they arenot listed on bigger exchanges and in small CEX the liquidity is pretty low so at that time I would prefer DEX. But for good coins already established coins, I choose DEX over the DEX as the liquidity is much higher and there is good chance to do swing too.

 

@Ridam Yeah, DEX is a good choice for new tokens or token with small trading volume. DEX also reduces the complexity of swaping.
CEX is more reputable, has a larger LP, so the opportunity for us to have the best prices and the shortest transaction time. Currently, the transaction fee is too high on UniSwap causing me to switch to using CEX Binance.

But: IDO is good feature of DEX. I think all should check this.

[MrSpasybo 1049]

@Rorosy @Mubarak hashmi Currently the high transaction side is the limitation of Ethereum & UniSwap, people are tending to move to CEX or to the BSC & TRON ecosystem to enjoy lower transaction fees. However, in the future, when layer-2 & EIP-1559 are applied, Ethereum & UniSwap's transaction fees will decrease, then we can continue to use DEX on Ethereum easily.