3 Best Decentralized Exchanges

Updated: 19 October 2023

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Crypto traders who believe in the true essence of financial freedom tend to gravitate towards best decentralized exchanges for many reasons. Two among them are:

DEX allows users to swap their cryptos easily.
Decentralized Exchanges don’t ask for user IDs or KYC documents.

There is also a third reason that has become more apparent in the crypto market. That is, many people lost their money during the bearish phase. While most exchanges have bounced back, the crowd’s faith in them is still low. If you’re among that crowd, here is the list of the 3 best decentralized exchanges to trade crypto.

3 Best Decentralized Exchanges

The interface of most decentralized exchanges I the same. Therefore, when selecting, the more important factors you must consider are security and ease of use. Here is the collection of three decentralized exchanges that meet the bill.

OKX DEX

OKX is one of the leading cryptocurrency exchanges in terms of the trading volume. Known as the one-stop marketplace, this centralized cryptocurrency exchange also has an official decentralized cryptocurrency exchange. That makes OKX a unique crypto trading platform available to investors.

The DEX features of this platform are information-centric, providing all the details about the network fee, the minimum amount the user will receive for swapping crypto, and the gas fee for ETH transactions in the top-right corner.

OKX DEX is suitable for traders living in countries where OKX is not allowed yet. For everyone else, OKX CEX is also an option. Buying crypto on a centralized exchange is also easy. First-time users can use their debit or credit cards to purchase crypto. Besides standard CEX and DEX offerings, OKEX also delivers a P2P lending platform for BTC, ETH, USDT, USDC, TUSD, and DAI.

Visit OKX

PancakeSwap

PancakeSwap is the biggest decentralized exchange built on the Binance Smart Chain. It uses automated and entirely permissionless liquidity bools. PancakeSwap has been described as an Automated Market Maker, allowing users to monetize their crypto holdings. It offers staking, yield farming, and crypto exchange.

Unlike the projects based on Ethereum, Pancakeswap boasts lower transaction fees with higher transaction speeds. Furthermore, this platform is also big on adding support for newer cryptocurrencies. A few months ago, it became the first cryptocurrency exchange to list Battle Infinity – the metaverse cryptocurrency with underlying DeFi capabilities.

It is great for investors who want to invest in early-stage cryptos before making them available to the general public. Furthermore, it is also considered a great platform in terms of staking.

Visit PancakeSwap

DeFi Swap

DeFi Swap is another decentralized cryptocurrency exchange built on the Binance Smart Chain. Thus, it provides higher transaction speeds with low transaction speeds.

DeFi Swap is a community-driven decentralized exchange that offers a wide array of crypt products. One of the standout features of this exchange is accessibility. Swapping tokens doesn’t require much effort. All you need is to connect your wallet to the DeFi swap platform, select the crypto, and swap. The transaction process doesn’t take more than a couple of seconds.

While currently, DeFi Swap is limited to swapping on the Binance Smart Chain, cross-chain swapping functionality and multi-chain support are coming next year. DeFi Coin, the native token of DeFi Swap, is one of the biggest DeFi tokens in the markets right now.

DeFi swap is a DEX that’s not limited by its DEX offerings. That is, the developers are planning to introduce NFTs and other forms of crypto assets on this platform – making the platform more inclusive.

Visit DeFi Swap

Conclusion

Decentralized Exchanges represent financial freedom for many who are apprehensive about providing their details to the cryptocurrency exchanges. For now, the leading DEX is OKX DEX due to its ease of use and inclusivity.

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