Possible to day trade on a DEX?
Possible to day trade on a DEX?
I’ve been trading on Binance a lot, but fear KYC as I really don’t want to give up my details that easily, which made me look into DEX’s as of lately. The vast majority of them lack a lot in volume, but I think it’s safe to say that if DEX’s had the same volume or just 1/10th of Binance, I’d use it any day. Not only to protect my identity, but also to be in control of my own private keys while trading, which is something that concerns me as well.
I’ve looked into Blocknet, a few others.
Anyone here who’ve tried trading on DEX’s? I’d love to know!
I don’t think day trading at dex is good. One of the weaknesses of DEX is high fee and transaction is very slow. Everything needs to go through many steps and I feel quite uncomfortable. Why don’t you trade at CEX? It is fast, low fee and doesn’t have token rounding during transactions. I know the identity issue is quite sensitive to current traders, but trading in Bithumb, you can withdraw 5 BTC every day without having to do KYC.