We are all paranoid about losing our cryptocurrencies to theft on centralized exchanges.
That fear makes us look for safer and secure cryptocurrency exchanges.
Now, we all know that centralized cryptocurrency exchanges are good but not the best when it comes to safety. Moreover, incidents such as Mt. Gox hack and Bitfinex hack imbibe more fear.
Despite all, we are forced to use centralized exchanges which fundamentally violate the basic tenants of a decentralized crypto economy.
Yes, forced to use because we don’t have many options considering the decentralized cryptocurrency infrastructure and exchanges are still being built.
That said, when the decentralized infrastructure is ready in a full-fledged manner, it will breathe a new life into the cryptosphere. People will be able to participate without worrying about the safety of their funds.
What more do we crypto enthusiasts need!
I have shed some light on why decentralized crypto exchanges will be the future.
In line with that, it becomes pronounced that we start looking for the best-decentralized cryptocurrency exchanges that can be used to trade in today’s day and time.
Here is a list of Best Decentralized exchanges:
5 Best Decentralized Exchanges To Be Used Right Now
MyCoinChain is a popular aggregator of decentralized exchanges. It offers swap feature, limit order feature and also yield farming feature. You can connect your wallet on MyCoinChain, and start using platform without needing to provide any kind of personal info.
MyCoinChain also secured $2.8 million recently from top investors. The platform uses a mechanism called Chi token to reduce the cost of ETH Gas which is over the roof currently. The platform is one of the most popular dex’s right now, and something you should be using.
Changelly is a popular DEX that will let you instantly exchange cryptocurrency without needing KYC or AML. The best part is, you don’t have to know who is on the other side and everything is done instantly. If your goal is to anonymously exchange your coins and need something instant and powerful, Changelly is what you need.
Getting started is fast and easy and just follow the steps to get started:
- Head over to Changelly
- Select the coins that you wish to exchange
- Provide your wallet address
- Changelly takes care of coin exchange and deposits it to your provided address.
This all done instantly and without any intervention.
Use Changelly Now
3. Waves Dex
Waves Dex or the Waves decentralized exchange is the product of Waves cryptocurrency and blockchain.
The Waves exchange provides you with the best of the two worlds by handing you the control of your funds on the blockchain. It also accelerates the exchange process by using a centralized matching service.
This way you get the best of both the centralized and decentralized worlds.
As mentioned earlier, Waves is a decentralized exchange built on the Waves blockchain. It allows users to trade their BTC/ETH, etc., in exchange for Waves (or any other asset token issued on the Waves platform).
The volume at the time of writing on this exchange is 187 BTC which is a decent number for a decentralized exchange with 72 cryptocurrencies/crypto assets listed on it.
Note: Keep your back phrase safe because that is the only thing that will help you restore your funds.
Use Waves Dex Now
4. OpenLedger Dex [Bitshares]
OpenLedger is a blockchain based company based out of Denmark that provides decentralized solutions for the crypto market.
They have a decentralized exchanged known as OpenLedger Dex which leverages BitShare’s graphene technology to cater its services.
Opening an account on OpenLedger is quite easy as it doesn’t require any registration or KYC to start with. The only thing you need to take care of is your login password and username because that is the only thing which can help you in case something goes wrong.
Your password will look something like this: P5K1qu91RAGxbc2xnH9sKvhCb31ocokr1XEKLmVXfBQFP
The volume at the time of writing on this exchange is 320 BTC.
Use OpenLedger Dex Now
5. OasisDex (Shutting down)
OasisDEX is another decentralized exchange by MakerDao that allows you to buy cryptocurrencies.
However, considering the exchange is in the alpha testing phase, it is not highly recommended to trade on. But, you will find a good volume on it for 3 cryptocurrency pairs namely ETH/DAI, MKR/ETH, MKR/DAI.
To access this exchange, you will need an account on MetMask because it is an Ethereum DApp.
Use OasisDex Now
5 Best Decentralized Exchanges That You Can Use To Trade NOW was originally published in The Moon on Medium, where people are continuing the conversation by highlighting and responding to this story.