Review on DDEX by Danh Huỳnh Ngọc Công
DDEX is going to be the big one
DDEX is a good decentralized exchange to try. It has a good design and a well-developed structure. DEX used to be slow and confusing but with this exchange, I can do my trading within a few steps and that's what I call an evolution. However, trading volume is low currently, let's wait for the break-out of this potential exchange
Pros
- - The exchange is a DEX on Ethereum blockchain so its security is ensured. Every transaction is verified by thousands of trusted nodes on the network so it is immuned from the regular hacks that CEXs suffer from
- - The UX/UI is so well-designed that it gives me a very good and confident feeling
- - Deposit and withdrawal are both free and this is a big advantage comparing to the CEXs which take tremendous fees. The only fee users need to pay is transaction fee to move the funds between personal exchange and DDEX contracts
- - The exchange will automatically calculate the price of your orders based on the available orders on the order books
- - Ether can be wrapped for trading very easily. This is a plausible function for a DEX utilizing WETH
- - Instead of using keystore files or private keys, it is possible to connect with DDEX using Metamask extension or hardware wallet such as Trezor or Ledger
- - Their support is very useful. They provide many tips on the trading screen and also support users via email
- - There is no need to expose your name. It does not require identities verification. You can do anything, from trading to withdrawing anonymously
- - Trading fees for maker and taker is very low and this is a strong point to compete with other exchanges
Cons
- - The size of trades are limited. Users are only allowed to trade with the maximum of 50 ETH
- - As it's a decentralized exchange and no one else holds a users private key but themselves, they must be very careful as there is no way the developers of DDEX can help them to recover their funds
- - There is not much marketing activities in order to get the attention of the other parts of blockchain community
- - Users can only trade Ether and tokens on Ethereum blockchain. If one day it can expand its operation by the implementation of cross-chain technologies, it would be great
- - With low volume, liquidity is the problem that everyone should concern about. Hopefully, the name of DDEX will be known by the public thanks to the listing of popular tokens
