We are all paranoiac about losing our cryptocurrencies to stolen on centralized exchanges. Aren’t we? That concern makes us look for safer and secure cryptocurrency barters. Now, we all know that centralized cryptocurrency barters are good but not the best as soon as it comes to safety. Moreover, happenings such as Mt. Gox hack and Bitfinex hack swig more fear.
Despite all, we are compelled to use centralized exchanges which basically violate the basic tenants of a decentralized crypto business. Yes, forced to use in view of the fact that we don’t have many options bearing in mind the decentralized cryptocurrency infrastructure and barters are still being built.
That said, when the decentralized groundwork is ready in a full-fledged manner, it will blow a new life into the cryptosphere. People will manage to participate without be worried the safety of their cash. What more do we crypto addicts need!
In line with that, it becomes expressed that we start looking for the best decentralized cryptocurrency exchanges that you can use to trade in today’s time and date.
Here is a list of Best distributed exchanges: Changelly, Uniswap, DeversiFi, Bancor, KyberSwap, BisQ, WavesDEX, RadarRelay, Cryptobridge DEX, Stellarterm
Note: Use Dex.ag to check the best price among all these exchanges.
9 Best Decentralized Exchanges for use Right Now
Changelly is a common DEX that will let you instantly exchange cryptocurrency in the absence of needing KYC or AML. The best bit is, you don’t have got to know who is on the other side and all of it is done instantly. If your goal comes down to anonymously exchange your coins and want something instant and powerful, Changelly is what you wanted. Getting started is fast and easygoing and just follow the steps to get to work:
- Head on to Changelly
- Select the cash that you wish to exchange
- Provide your purse address
- Changelly takes care of coin exchange and stores it to your provided address.
This all done promptly and without any intervention.
2. Waves Dex
Waves Dex or the Waves decentralized barter is the product of Waves cryptocurrency and blockchain about whom we have talked in detail on PaperBlockChain. You can read more about it here. The Waves exchange gives you with the best of the two universes by handing you the power of your funds on the blockchain. It also speeds up the exchange process by using a centralized equivalent service.
This way you get the best of one and the other the centralized and decentralized worlds.
As mentioned earlier, Waves is a decentralised exchange drawn up on the basis of the Waves blockchain. It allows users to swap their BTC/ETH, etc., in exchange for Waves (or many other asset token delivered on the Waves platform and service). The volume at the time of handwriting on this exchange is 187 BTC which is a good number for a decentralized exchange with 72 cryptocurrencies/crypto assets recorded on it.
Note: Keep your back words safe because that is the only thing that will be of help to restore your funds.
3. OpenLedger Dex [Bitshares]
OpenLedger is a blockchain based corporation based out of Denmark that provides decentralized services for the crypto market. They also have a decentralized exchange known as OpenLedger Dex whom leverages BitShare’s graphene technology toserve its services.
Opening an account on the OpenLedger is quite easy as it does not require any registration or KYC so that you can to start with. The only thing you need to be careful of is your login username and password because that is your only option which can help you in case something goes wrong.
Your password will look anything like this: P5K1qu91RAGxbc2xnH9sKvhCb31ocokr1XEKLmVXfBQFP and The volume at this time of writing on this exchange is 320 BTC.
4. CryptoBridge Dex
CryptoBridge is a new portal in the decentralized cryptocurrency exchange market. It is a decentralized exchange which is running on top of the BitShares Network. Itendorses decentralized trading on all popular altcoin pairs and dont have a single point of failure. You always hold your private keys to your funds which that means only you have access to them.
It also has certain USPs that singles out it from other centralized exchanges:
- It has innate BCO token called BridgeCoin.
- It allows BCO token tacking and 50% revenue share with BCO HODLers.
- It has none single point of failure because of its enleagued servers.
The login process is just simple. You need to select a exclusive username, and a cryptographic password will be created in automatic fashion. Just note the username and password down and keep them safe. Boom! Done! The password will seem something like this: R5K59WQQp1GWtWQjXwDA2cmPooyqJhcCfhqHQt5TFC4tf
The volume at the time of writing this article on this exchange is 201 BTC, pretty straight numbers for a well decentralized exchange with 38 cryptocurrency asset pairs listed on it.
5. OasisDex (Shutting down)
OasisDEX is another decentralized crypto exchange by MakerDao that you can use to buy cryptocurrencies.
However, considering this exchange is in the alpha testing state, it is not highly appropriate to trade on. But, you will find a greatest volume on it for 3 cryptocurrency matches namely ETH/DAI, MKR/DAI, MKR/ETH.
To access this exchange, you would need an account on MetMask for the reason that it is an Ethereum DApp.
6. Radar Relay
Radar Relay is a decentralized exchange such allows you to trade Ethereum tokens without the intervention of any middleman. To be using Radar Relay, you will need to have a MetaMask wallet with ETH on it to pay for the fees, etc.
The exchange is in the beta stage currently but has sufficient volume to busy oneself. Also, you control your funds and only thing that you need to deal with while using this exchange is the recovery words of your MetMask Wallet.
You can also use this exchange along with your Ledger Nano S wallet which also is a much safer option. The volume at time of writing on this exchange is just 3 BTC with more than 40 cryptocurrencies assets pairs enumerated on it.
Because it uses the engineering of atomic swaps, you can state BarterDex is the most precocious decentralized exchange out there. The UI, although, is not great. we hope that it will get better with time. BarterDex, a output of the Komodo platform, recently passed 60,000 atomic swaps on its exchange!
Also, the new version of their GUI purse which will be ready on Windows, Mac, and Linux is under active development and is hoped to be much faster and user-friendly. So if y’all are a tech nerd, continue with your first atomic swap using BarterDex.
Bitsquare is a peer-to-peer bazaar for cryptocurrencies like Bitcoins. It is a completely decentralized exchange which demand no name, email ID or verification.
To be a truly anonymous peer-to-peer network, it uses the Tor and doesn’t hold fiat on their servers or in their account. Every feature of this exchange, from placing the request, to matching the order, or perform it, is decentralized.
Currently, it supports 126 cryptocurrencies (comprising BTC) and is available on Windows, Mac, and Linux systems, but trade volumes are low.
How Bitsqaure works is over the scope of this article. But in the future, PaperBlockChain is going to cover all essential aspects of the Bitsquare. Note that Bitsquare changed to Bisq due to copyright issues.
The volume at this time on this exchange is 4 BTC with 11 cryptocurrency asset pairs listed on it.
9. Stellar Dex
We have all heard of Stellar. It is a well known cryptocurrency and blockchain project. The thing here is, Stellar has also showed us with its decentralized exchange. To get going on using the Stellar network, you should first create a key pair which has two parts:
Public key: The public key is used to detect the account. This public key is used for getting funds.
Secret key: The secret key is used to get access to your account and make transactions. Keep the code safe and secure. Anyone having this key will be able to access the funds on the Stellar Dex.
When you create the key pairs for Stellar Dex, you will be provided a secret key which will look like this: DBXNBVE5RNAGP76VGAJPB4A7OW3JHRKCICCUCPGCXNI44HVGFVUXOPNP
When you log in to the Dex and use this key, you will be shown a public key whereby you will be required to put 20 lumens to activate the account and start trading. The volume that this system works at the time of now on this exchange is 55 BTC with 6 cryptocurrencies and crypto assets pairs being listed on it.
Conclusion: The Top Decentralized exchanges (Crypto Dex)
There are some more decentralized exchanges in the out there but they are either currently being built or have very low cashflow or are facing security problems.
For eg. Bancor Liquidity Exchange, district0x, EtherDelta [didn’t cover it because of its recent breach], Airswaps [Under active development]
However, regardless of their current state, the forthcoming of decentralized exchanges looks promising.
Now it is time to know from you: Which Dex do you take advantage of? Did I miss any major Dex with good fluidity? What do you think about the destiny of Dex?