I already bought some BTS on bitshares. I am not worried about "real" assets like BTS. But I have doubts about open.BTC and similar. Was there any audit that it is realy backed by BTC? How can I be sure it is really backed? This seems to me the same as any CEX, as you have to trust some entity. Seems to me it's better to hold in cold storage.
Another problem I see with DEX is that the frontends are centralized, so anyone who is in charge of the frontend can see your password/private key when you log in.
Don't take me wrong, I like the idea of DEX and already use Bitshares and EtherDelta, but it's still far from ideal.
Very valid questions..of course cold storage will be and has always been the best way to store your coins..as far as the other technical things, the team is pretty open about this...they have a telegram channel and the devs are on there all day so you could ask them about these concerns...ive got a lot of questions answered on there...Tony Peacock has a steemit page and he is a great supporter of Bitshares and is extremely knowledgeable...you should ask him these questions..let me know if i can help in any way friend
Do your research first before making assumptions. Did you not read shawnstwrs comment above sir? ?? Did you not read mine. Cex is a risk in an already risky crypto market. If you wanna risk losing everything then keep leaving your coins on a cex. Good luck with that
I read his answer obviously, as you can see I replied directly to it. I admit that I did not check much info about bitXXX assets before I posted my comment, but other points are still valid. Maybe you did not read my whole comment..
I briefly read about bitUSD and bitEUR assets a bit and it's pretty neat with the 2x collateral backing via the smart contract. But this is not valid for open. BTC, it's basically the same like on CEX (giving word that is backed by real BTC 1:1). But for sure, I would trust openLedger more than Bittrex.
I don't have a lot of money in crypto currently, so I am not so much concerned right now. I use multiple CEX and DEX and also cold storage to spread out risk. The main problem with DEX for me currently is a very limited number of coins, but this will improve in the future, I bet.