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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

https://www.cryptocompare.com/exchanges/guides/what-is-a-decentralized-exchange/
https://en.wikipedia.org/wiki/Mt._Gox
http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/

Uncertainty Dominates as China Continues to Clamp Down on Cryptocurrencies


https://bitshares.org/wallet/#/
https://coinmarketcap.com/exchanges/bitshares-asset-exchange/
https://openledger.io/create-account
https://coinmarketcap.com/exchanges/openledger/
https://etherdelta.com/#MTH-ETH
https://coinmarketcap.com/exchanges/etherdelta/
https://counterparty.io/feature/
https://coinmarketcap.com/exchanges/counterparty-dex/

Centralized exchanges are great for making quick trades. They are also a great place for hackers to target. In addition to providing a place to trade cryptos, centralized exchanges also provide a place for their users to store their cryptocurrencies. Even though it’s been said time and again that using exchanges to store any cryptocurrency that you are fond of is not a good idea, still lots of people do it. This results in the popular exchanges becoming a honey pot for hackers to target. This has resulted in many people losing lots of money. Not because of the currency itself, but because the exchange had weak points that were taken advantage of. Go ahead and google Mt. Gox
and also more recently the Bitfinex hack.
Centralized exchanges are also subjected to governmental regulations and also the decisions made by those who run it. We are seeing this play out in China right now as the centralized exchanges there are now shutting down due to government regulations.

Enter decentralized exchanges. These are the exchanges that do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. Decentralized exchanges also do not require you to give out your personal information. You can create an account and right away be able to start trading. However, one drawback for decentralized exchanges is the lack of liquidity compared to the more popular centralized exchanges. I think this will change over time as these centralized exchanges are forced into more strict regulations and as they pass these restraints on to their users, soon more people will seek out better options.Another great benefit of decentralized exchanges is their distributed nature, meaning their servers are spread out so that there is no risk of server downtime.

Here are some of the more popular decentralized exchanges
Bitshares asset exchange
Bitshares has a way of always slipping under the radar, but this platform has the best daily volume that has been around $6 million as of late. This asset exchange is a place to trade with both asset-pegged and fiat-pegged tokens.

Openledger is also on the bitshares blockchain and this is where you can trade a decent number of different cryptos. The daily volume on openledger is around $3million.

Etherdelta https://coinmarketcap.com/exchanges/etherdelta/ has a healthy daily volume that bounces around the $4 million mark. This exchange is based on the ethereum blockchain and is where you can find many of the erc20 tokens that have not yet been added to more popular exchanges. It certainly lives up to the hype of not being user friendly. In fact I made a video that specifically goes over how to use this one for those who could use some guidance I suggest checking that one out.

Counterparty is a decentralized exchange that uses the bitcoin blockchain and the counterparty protocol acts as a decentralized escrow service. The volume on counterparty leaves something to be desired I’m sure by it’s users with its daily volume hitting around $2,000.

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40 COMMENTS

  1. Governments always put their finger up your ass when you try to act with your own money and we need government, like we need a case of Ebola virus! Did you know that the CDC has a patent on Ebola? They plan to profit from people getting infected! That's how I see government! Realistically! Less government! More freedom! Who decided that we have to go through customs at airports? Whose planet is this, anyway? If it's OUR planet, then WE decide how we move about! Not governments! Governments want to disarm us. We need to disarm governments! Who killed more than 200 million people over the last 100 years? GOVERNMENT! Two hundred million people would have had a life, if not for government! Time to disarm all of them and save hundreds of millions of lives! We need to take away all control over money by them and restore this control with the people! A decentralized exchange is a GREAT idea!

  2. Bitshares is may fav on the list, but Bancor is my favourite overall, much easier to use, atomic swaps. I also use my credit/debit to purchase also. Does anybody know of any other DEX'S you can use cards to purchase?

  13. Anyone heard of Utrust?
    Jika Anda ke Bitcoin maka posting ini pasti akan membuat Anda terkesan!
    Mereka adalah masa depan pembayaran online Saya sangat beruntung karena saya telah memasuki Utrust UTRUST adalah platform pembayaran revolusioner yang memberdayakan pembeli untuk membayar dengan cryptocurrency sambil memberikan mekanisme perlindungan pembelian yang inovatif.
    Lihatlah!
    https://utrust.io/
    Terima kasih!
    Robert

  25. If I have Bitcoin on Coinbase, how can I move it over to OpenLedger so I can manage myself? Any videos on how to do that would be helpful. Thanks and keep up the great work!

  30. I'm impressed with cross Atomic swaps….

    Honestly I was very impressed with the cross Atomic swaps and I do believe we have enough a very intelligent coders who can imagine a medium of tokens that pervades the cryptocurrency Market. Interesting enough I am compelled to call this a medium of Exchange, but instead of the token representing a crypto I could imagine the token could represent an individual or a serviceable amount value medium that is understood to be an individual person or medium much like our social security numbers.

    One of the reasons why I think cross Atomic swamps may be used in such a creative way is because it truly did not rely on a third party.

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