Here Are Some of the Best Decentralized Crypto Trading Platforms You Need To Know About
Cryptocurrency trading platforms are going through a radical change. In the past, most exchanges were centralized, with users relying on them to execute trades and manage their money.
However, over time there has been a shift towards decentralized cryptocurrency exchanges (DEX), which allow users to remain in full control of their funds at all times.
Before we dive into the best-decentralized trading platforms, let us briefly define the concept of a crypto exchange
Cryptocurrencies are all the rage these days, and with good reason. They offer a chance to make money while you sleep, without any middlemen or banks getting in the way. But how do you get started?
The answer is simple: by trading on a cryptocurrency exchange! You can buy and sell cryptocurrencies directly from your wallet. These platforms allow users to trade different coins at market rates, which means that they don’t charge fees for transactions — you just pay for what your transaction costs (assuming there aren’t any). Here are some of the best-decentralized trading platforms out there:
Binance DEX
Binance DEX is a decentralized exchange based on the Binance chain. It’s fully decentralized, meaning that it does not rely on a third party to hold your funds. Instead, users are responsible for their own security and can trade with each other without any centralized authority or middleman.
Binance DEX has been around since 2017 but was only recently made public in June 2019 with its open-source code released under a GPLv3 license (which means anyone can use it).
This makes it one of the most accessible platforms out there if you’re looking to get involved with crypto trading but don’t know where to start!
The great thing about Binance DEX is that anyone can build their own dApps onto this platform — which means there are already plenty of interesting projects being developed right now!
Waves DEX
Waves is a decentralized exchange (DEX) that uses the Waves blockchain. It’s a peer-to-peer trading platform, meaning users can trade directly with each other rather than using an intermediary like Coinbase or Binance to facilitate the transaction.
Waves is also one of the most popular crypto-to-crypto exchanges on the market today, so if you want to buy or sell cryptocurrencies without having to deal with fiat currency conversions and fees, this may be your best option.
The DEX has an API built into it so developers can build apps around it — and there are plenty of them! In fact, there are already over 1 million users who use Waves daily by way of mobile apps and desktop clients; some even allow users to create custom tokens within their own wallets.
OpenLedger DEX
OpenLedger DEX is a decentralized exchange built on top of the Bitshares blockchain. It allows users to trade BTC, BTS and other cryptocurrencies directly with each other without middlemen or third-party interference.
OpenLedger DEX offers an easy-to-use interface with a large variety of features that make it ideal for beginners who are just getting into crypto trading, as well as experienced traders who want to diversify their portfolio by adding another asset class into their portfolio.
IDEX
In the world of cryptocurrency trading, IDEX is a decentralized exchange that offers a wide variety of trading pairs. It was founded in 2017 and has since grown to be one of the most popular decentralized exchanges.
It supports multiple languages and can be accessed through an online web browser or mobile app.
Bibox DEX
Bibox DEX is a decentralized exchange that offers a wide range of digital assets. It’s one of the largest and most popular cryptocurrency exchanges in China. Its user-friendly interface allows users to trade with high liquidity and provides tools for monitoring their investments.
Bibox DEX has more than 50 trading pairs, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and EOS (EOS).
Stellar DEX
For those of you who are not aware, Stellar is a blockchain technology that was created by Jed McCaleb and Joyce Kim. The network has been around since 2014 and it’s currently valued at $1.6 billion with more than 35,000 transactions per second on its network.
Stellar DEX is an open-source Decentralized Exchange (DEX) built on top of the Stellar protocol. With DEXes, users can trade between fiat currencies like USD or BTC directly without going through an exchange; they also don’t have to worry about any third party taking their money and holding onto them until they get paid back in full — which means no delays while waiting for your funds!
Komodo DEX
If you’re looking for a decentralized exchange that combines the best of both worlds, Komodo DEX is for you. It’s an open-source cryptocurrency exchange built on top of the Komodo blockchain and uses its own native token called KMD as its currency.
Komodo was originally a fork from ZCash (ZEC) but has since changed its name and focus to be more decentralized than its predecessor. The platform is designed specifically with privacy in mind by offering anonymous transactions through zk-snarks technology, which allows users to send money without revealing their identity or location when making purchases or selling items on this network.
In addition to being one of the first platforms created specifically around providing secure exchanges between cryptos like Bitcoin Cash (BCH) or Ethereum Classic (ETC), it also provides peer-to-peer trading functionality through atomic swaps — a method where two parties can interact with each other without having any middlemen involved between them — and atomic swaps allow users access some features not available anywhere else such as cross-chain atomic transfers across different blockchains via smart contracts built into their smart contract system called KOMODO DIGITAL ASSETS MANAGEMENT SYSTEMS — DCAMS.
The future of cryptocurrency lies in decentralized exchanges
Decentralized exchanges are the future of cryptocurrency.
It’s no secret that centralized exchanges, like Binance and Coinbase, have faced issues with security and user experience in recent years.
In fact, many people avoid using them altogether because they’re simply not safe enough to handle large amounts of money or precious digital assets like cryptocurrencies.
Decentralized cryptocurrency trading platforms promise to fix these issues by eliminating middlemen from the equation — meaning there are no servers required for users to access their accounts or store their funds securely on a blockchain network (like Ethereum).
This means less risk for hackers who want to access your information before you do! And it also makes it easier for third-party developers who want access too because they don’t need anything more than an internet connection anymore,” said Daehee Park, CEO at DEXSTER.”
Conclusion
I hope that this article gives you a better understanding of what decentralized exchanges are, how they work and why they’re so popular among cryptocurrency traders.
As I’ve seen, there are many options available to you, whether you’re looking for an easy-to-use platform or something more advanced with advanced features like smart contracts.
If all else fails, always remember that it’s better safe than sorry — so if something feels wrong about any exchange, don’t keep money on it!