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Not to mention that Coinbase doesn’t really serve a strong purpose anymore. Why not just use a DEX?
by ryanSrich 6y ago
Not to mention that Coinbase doesn’t really serve a strong purpose anymore. Why not just use a DEX?
- miglmj 6y agoHigh fees and lack of a fiat on ramp are two big reasons
- xienze 6y agoWell first, how are you gonna get Eth or whatever to use that DEX? Some apps have payment options but hoooo boy are the fees outrageous. Coinbase doesn’t have the best fees in the world but just mosey on over to Coinbase Pro and it’s a whole lot better. Then there’s the gas fees on Uniswap. Not even worth bothering with unless you plan on making $1000+ trades. The other thing to consider is that for newbies they offer a safe platform with a list of established coins. That counts for something.
- ryanSrich 6y agoOnramp is a good point. Didn't think of that. > Then there’s the gas fees on Uniswap. Not even worth bothering with unless you plan on making $1000+ trades. This is fixed by PancakeSwap.
- rawtxapp 6y agoPancakeSwap which is running on a "decentralized" network, "CeDeFi" as CZ calls it, that's tightly controlled by Binance. I think the real solution are layer 2s, optimism comes to mind, but there are many others too.
- arthurcolle 6y agoLiquidity.