In recent years, with the increase in people interest in cryptocurrencies, each decentralized exchange does its best to provide the better services for the clients.
In this article, we are going to review the best crypto-decentralized exchange.
Before speaking about the best DEX, it’s better to know what exactly the DEX (Decentralized Exchange) is.
There are many exchanges in the world and each of them belongs to one of these two:
- Centralized exchange
- Decentralized exchanges
Let’s know more about centralized and decentralized exchanges.
Centralized Exchange (CEX)
It’s an online trading platform and the most common type of exchange to buy and sell bitcoin or other cryptocurrencies.
It is owned and operated by a private company and requires users to sign up and open an account in order to participate.
In the crypto sector, some well-known CEXs include Binance, Coinbase, Intelligent and Kraken.
Decentralized Exchange (DEX)
It’s a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without the need for an intermediary to facilitate the transfer and custody of funds.
The algorithms that DEXs use are examples of smart contracts. They are pieces of code written on top of blockchain networks like Ethereum that trigger various outputs when given certain inputs.
DEX or CEX …?
As the matter of fact, despite many
different services CEX provides they were not successful in responding to the needs of customers. The failure of CEXs against cyberattacks and the incompatibility with the blockchain structure, decentralizing, led to creation of a decentralized exchange which attracts more users day by day.
Let us now take a look at best DEXs to choose from:
- Curve Finance
It’s a Decentralized Exchange developed on Ethereum.
There is no order book or any centralized party needed.
It uses AMM system. Automated Market Makers are smart contracts that hold liquidity reserves (pools) that traders can use to trade against.
Liquidity providers create a new available trading market by depositing an equal value of two tokens. These can be ETH and any ERC-20 token, or two ERC-20 tokens.
Uniswap ran a very valuable airdrop to celebrate its launch, offering 400 UNI tokens (estimated $1,500 at time of airdrop) to users who had previously used the Uniswap decentralized exchange protocol.
Additionally, Uniswap’s liquidity pools are an attractive endeavor for investors who want to earn income on the cryptocurrency they already hold – without selling it.
Currently it’s the largest Decentralized Exchange in the world and millions of transaction are done daily through this platform.
One of the reason for Binance popularity, is to provide excellent services for its clients around the world.
Buying and selling operation are done with high precision, speed and security.
There are more than 50 different currencies available for payments and dozens of payment methods for each currency. So, traders anywhere in the world can easily find traders in their region.
The platform puts all funds into an escrow account while a transaction is taking place, so there’s no way for a buyer or seller to back out of a deal after money has been sent.
There are the main advantages of Binance DEX:
- Private keys under user’s control
- Centralized order book
- Matching with one-second block time
One of the top global Decentralized Exchanges running on the Solana blockchain.
Traders can buy or sell more than 5 asset classes on this platform with high security and speed. Transactions are done about 65000 per second.
The attractive factor of this platform is the combination of finance and technology which made intelligent team to think about creating new version of trading platform on Solana since 2017.
AI (artificial intelligent) in Intelligent
Since 2017 intelligent team have worked on AI part of the platform to provide best DEX for client needs.
AI could make great changes in these part of platform
- Portfolio designing
- Asset recommendation
- Smart chart
Hybrid liquidity model is on of other intelligent advantage, as many projects consider liquidity, obstacle for their process.
It combines liquidity from both centralized and decentralized exchanges. With this, the trader will be able to place an order at the best possible price.
For 2023-24 intelligent is going to update and add some new features in many part of platform such as:
- AI services
It will improve AI in all part of platform
- Fund managing system
Providing platform for all hedge funds around the world
- Robo adviser
The robot which enable you to work with the platform as easy as possible and take profit by this tech.
- Intelligent Token
dYdX is a decentralized exchange (DEX) platform that offers perpetual trading options. It stands as one of the biggest decentralized exchanges in the world in terms of trading volume and market share.
As a decentralized exchange, dYdX is primarily home to perpetual markets that eventually branched out to offer spot and margin trading on the Ethereum layer-1 blockchain and layer-2 cross-margined perpetuals.
Products of the dydx exchange:
- Perpetual trading
Perpetual trading allows users to trade open markets with non-expirable contracts. The dYdX perpetual is offered as a non-custodial, decentralized margin product that provides a synthetic exposure to a variety of crypto assets.
Users can earn DYDX tokens on their trading activities on the DEX — with all fees paid and open interest. The DYDX tokens can be used on the platform for community voting and governance initiatives
The community arm of the dYdX exchange allows users to stake their existing crypto holdings to earn yield in DYDX, an in-house governance token
dYdX’s latest product offering is an NFT collection named Hedgies, a collection of animated hedgehogs. Hedgies are distributed to users based on their trading statistics and community interactions such as voting.
To full decentralization, the dYdX v4 protocol is expected to see the reintroduction of trading features such as spot, margin and additional synthetic products. The company also intends to bring in improvements to existing margin and collateral options as well as other trade activities.
Curve is a popular automated market maker (AMM) platform that offers highly efficient way to exchange tokens while maintaining low fees and low slippage.
Curve is looking for using more efficient algorithms, feature the lowest levels of fees, slippage, and impermanent loss of any decentralized exchange (DEX) on Ethereum.
Harmony is proposing to work with the Curve to deploy Curve on the Harmony blockchain. This will expand stablecoin swap to its community of users and provide incentive to bootsrtrap the launch of Curve to a new ecosystem.
Let’s take a look at some of its advantages
- Transaction fees on Curve are among the lowest in DeFi, because of the liquidity pools and an automated market maker
- Curve Finance’s concentration on Bitcoin reduces the danger of temporary loss.
- Usually, Curve Finance does not charge any gas fee
- Curve Finance does not have access to its user’s tokens, because it is a non-custodial service provider
We reviewed best 5 DEX among more than 100 projects in this article.
Every day we find out that a new project enters to this area or other existing project update their features to distinguish themselves in this competition.
It’s important to choose the one that meets your needs and will help you achieve your investing goals. Just remember to do your research and invest at your own risk.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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