Does your crypto exchange provide you security? Are they safe and secure to store your investments? Do they protect their clients’ data? If the answer is “NO” then you should read this article. We are going to share slight information along with list of best decentralized exchanges that satisfies these conditions and offer us better services. They are very reliable and safe to transact so read which exchanges we are talking about?
Best Decentralized Exchanges to trade cryptocurrencies:
From 2017, the world have seen a huge divestment. From hard cash we have shifted to digital money, the investors of stock exchanges of the world are now focused on the crypto currency exchanges. The demand of the coins have come up and these coins are giving very handsome amount of returns. So the whole world is now stuck to these cryptocurrencies. And as the stock exchanges are for shares, for cryptocurrencies there are crypto exchanges that are available and works as an intermediary to trade these currencies.
But often we feel that there is something lacking in all crypto-exchanges available. It is because all these exchanges are centralized exchanges and are managed by 1 server. So there is a lot of threat when we are storing our crypto investments in wallet offered by these exchanges. We even doubt exchanges as there were many cases happened of hacking which we all may be aware of. So what is the solution to it? Are we having any alternate? We are trading for so long and what next? Don’t worry, we have the answer, very simple: trade through Decentralized Cryptocurrency Exchanges.
What is Decentralized Cryptocurrency Exchanges?
You may be wondering what this is now! This is the solution to all your doubts and problems. Decentralized Cryptocurrency Exchanges are common exchanges but they are decentralized and multiple operators are managing the whole exchange. There is not a particular person managing the exchange and so the changes of getting hacked and steal reduces. It is like decentralized blockchain, very similar concept.
So let us see the best Decentralized Cryptocurrency Exchanges that are available in the market that promises the transactions and trade to be completely safe and secure.
Best Decentralized Cryptocurrency Exchanges
Waves Dex Exchange
Waves Dex is an emerging decentralized exchange which is also a part of Waves cryptocurrency and waves blockchain. The exchange is very much praised for offering 2 services together i.e. controlling the funds on the blockchain and accelerating exchange process with the systems competing centralized machines. The exchange was trading with 172 BTC volume which is considerably a very good figure.
The exchange is just not an exchange, though it provides the services of exchange which allows you to trade BTC/ ETH/ XRP/ XVG/ and many other altcoins. The exchange supports 72 cryptocurrencies and will be more within short period. You can install the exchange in your Google Chrome browser as an extension and start trading. So first create your account and enjoy safe trade.
Hence this is one of the best and safest place to trade and store currency in.
Another Decentralized exchange is OpenLedger Dex. This exchange is also based on BitShare’s Graphene technology and is situated in Denmark. It provides decentralized solutions for the crypto markets. Opening an account in OpenLedger is very easy and it doesn’t take much time to register your account. Even it doesn’t take your personal details for KYC to start. The exchange also allows any crypto to join very easily and you can start trading very easily.
Here we have to remember one thing very clearly that we have to remember our login ID and password and keep it at a safer place. Because the password will be very big and will be difficult for us to remember. Hence you can start with this exchange and get all the safety measures and all protection required.
New brings something good! The same is with CryptoBridge Dex, the exchange is a new entry in cryptoworld. But it came with a plan and so it is booming and the volume of trade is increasing day by day. The exchange is based on, again, BitShares network. All the popularly known altcoins pairs are traded on the exchange. And for the safety, the private keys held by the account holder only. The coin exchange has a few Unique Selling Prepositions (USPs) as under.
- Native crypto coin BridgeCoin
- Allows staking of BCO token and sharing of 50% revenue to holders
- No failures because of federated servers
Similar to the former two, the exchange has a very simple registration and login process and the login ID and password has to be stored at a place to login safely. The exchange is dealing with 34 BTC at present and offers 22 crypto pairs to deal in.
If you are truly willing to be working and trading on a peer to peer crypto market where no one should trace you then you are most welcomed to Bisq. This exchange is well known for the anonymity of the buyers and sellers. Bisq is truly in its sense a decentralized exchange requiring ‘NO’ name, email and verifications.
The exchange uses Tor and it holds no FIAT currency or BTC on the servers or accounts. Everything’s decentralized and made anonymous that no one can trace placing order, matching order and executing of order. The exchange supports nearly 130 cryptocurrencies and can be used on Windows, mac and Linux platforms. The lose end it that the trading volume is very low.
Note: Due to certain legalities, BitShares is rebranded to Bisq.
In the race, there is an entry of Stellar Dex exchange which is developed by the famous cryptocurrency Stellar Coin. To use this exchange, we have to make the pair of Keys i.e. Public and Private Keys. First of all you have to generate the Public key which will work as an account and looks something like:
After that we have to deposit 20 lumens in order to activate your Stellar Dex Exchange account. Only then you will be able to trade through. At present the exchange is trading with 22 BTC and offers only 6 pairs of altcoins pairs.
Hence as we are having a safer way to trade in the cryptocurrencies now there will be no more loopholes whereby we have to lose our money. Eventhough there are some more exchnages comeing up which will give us handful of options to trade with.