I’m new to Peercoin and wanted to start trading for it on the centralized exchanges (e.g. Wex, HitBTC, Poloniex, Bittrex, etc.). All of my experiences were unsatisfactory to say the least, ranging from server downtimes to withdrawal refusals to being unable to register an account. However, I’ve been recently reading up about the promises that decentralized exchanges can offer, most notably the software application Bisq, to which the white paper can be read here: https://github.com/bisq-network/docs/blob/master/exchange/whitepaper.adoc
I would be interested in hearing some opinions regarding decentralized exchanges, which ones trade Peercoin, and perhaps which ones might be able to trade Peercoin in the future.
I tryed to trade PPC in bitsquare, but always is needed bitcoin for transactions. Who use Bisq at this bitcoin price?
My be a solution for Decentralized Exchanges can be PeerAssets? @peerchemist, @Nagalim, @saeveritt…
I doubt anyone in this community will try to do a decentralized exchange anytime soon. There is no perfect option for crypto markets, it would be bold and risky to attempt to create one.
The problem is that, in my view, in order for a coin to be successful and usable, it must be efficiently, quickly, and freely tradeable. Peercoin is available to trade on several exchanges, however, throughout my experience, it has been very difficult to obtain due to poor performances by a third party. Their speed is terrible, their user interface is terrible, and frankly, many are dishonest with their customers. Coinbase is okay, however, they have a very limited selection of cryptocurrency to trade. I therefore have to buy Bitcoin or Ethereum with my US Dollars on Coinbase (for a fee), transfer that currency over to another exchange that supports PPC (for a fee), wait until a trade is complete, and then finally withdraw the PPC to my Peercoin wallet (for a fee) which doesn’t always work due to “system maintenance.” It’s a long, time-consuming, and frankly EXPENSIVE process.
There are some online DEX out there. @fishb0ne thank you for the reference, but unfortunately, I would be violating its Terms if I used its service (since I am a U.S. citizen), it doesn’t accept US Dollars as an initial payment method (i.e. I need to exchange crypto for crypto), and its interface has a time limit. Bitsquare (Bisq) is a DEX that doesn’t have those limitations, although it is admittedly slow and doesn’t support Peercoin at the moment. An approach that would allow a more direct exchange across currencies in a decentralized environment could be an even greater incentive for people to get started in crypto.
