The decentralized mechanism of cryptocurrency is one of the prolonged features to maintain a stable financial ecosystem, it not only helps in creating an easy peer-to-peer transaction but it also takes place through online mediums which are secure and you can operate them according to your privacy requirements.
Decentralized exchanges not only help in the easy management of your digital funds but they also remove the requirement of custodial needs, that is they are non-custodial and give control of ownership to its real user only which keeps the private keys under their control to operate the transaction in real-time. If you are interested in bitcoin trading visit Weed Millionaire .
Hence, as we have discussed the decentralized exchanges, let’s see what are some famous decentralized exchanges which are very popular and reliable in terms of their scalability and trading volume.
What is a decentralized exchange?
Decentralized exchanges are the peer-to-peer trading platforms that facilitate the transaction with the most self-executing management that run with a specific code processing known as smart contracts.
Also, it contributes to decentralized finance that doesn’t require any permission for its execution and respects the user’s privacy so that he can operate anonymously without a traceable transaction address.
Top popular DEXs for your use
Now as we have learnt quite a few things about the decentralized exchange, so now let’s focus on the quality assurance of some top ten DEXs that can be the best option to start our crypto trading as a beginner!
Here are some of the examples which are enlisted below to have a concrete collection of DEXs within our fingertip:
- Automated Market Makers
- Order Book DEXs
- DEX aggregator
Order Book DEXs
Order Book DEXs or Swap has the highest trading volume that hits the high record of fifty billion, it is a compiled platform for all kinds of buying and selling assets which are determined by the price spread through buying and selling orders. The users are allowed to keep an off-chain asset but their track record is maintained through on-chain.
Here are some of the examples of Order Book DEXs that are given below:
- Off-chain order book DEXs- Here the trading activity is bound to occur outside the blockchain to reduce gas costs and for faster speed, under this type here are some:
- Binance DEX – Binance DEX has empowered the Off-chain trading in cryptocurrency with its customizable low fees and improved security, it has more than 100 active crypto assets to do trading.
- Ox- Ox offers a centralized database that uses ERC-20 tokens and projects related to digital video games have promoted the scalability solutions.
- Ether Delta- It is a decentralized platform that helps in trading DEXs and Ethereum-based tokens directly with other platforms and you are given full control of funds and trading decisions.
On-chain order book DEXs- Under the On-chain order book the details of transactions and other processing information is secured where the user’s funds remain in their wallet and they help to earn liquidation amount on their borrowed funds.
Here are some other types of DEXs:
- Kururu- it enables you to swap the token and create swap tokens, it has a customized slippage and price impact along with this it gives many advantages such as selling NFT, exploring real-time market price.
- Bisq – It is an exchange platform to swap Bitcoin with other national currencies with anonymous trading addresses.
- Airswap – This DEX is very useful for those who are doing an initial level trading as it uses Ethereum based approach and a trading partner is established for an agreeable price.