10 Best Decentralized Exchanges That You Can Use To Trade NOW

Best Decentralized Exchanges

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We are all paranoid about losing our cryptocurrencies to theft on centralized exchanges.

Aren’t we?

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.

You can read the full story here: Why Are Decentralized Exchanges The Future Of Cryptocurrencies?

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:

  1. 1inchexchange
  2. Sushiswap
  3. Curve.fi
  4. Dydx
  5. Uniswap
  6. Pancakeswap
  7. DeversiFi
  8. Bancor
  9. Changelly
  10. KyberSwap
  11. BisQ
  12. WavesDEX
  13. RadarRelay
  14. Stellarterm

Note: Use 1inchexchange or Dex.ag to compare the best price among all these exchanges.

9 Best Decentralized Exchanges To Be Used Right Now

1. 1InchExchange

1Inchexchang 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 1inchexchange, and start using platform without needing to provide any kind of personal info.

1Inch also secure $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. 1Inch also offers a mobile app, which makes it easier for anyone to swap tokens with the comfort of a smartphone.

2. Uniswap

Uniswop is the most popular decentralized exchange on the Ethereum ecosystem. Here is a video that explains everything you need to know about Uniswap. Using Uniswap, you can convert any ERC20 token to any other ERC20 token. Due to the huge popularity of Uniswap, it has also become the first choice of place for many new Ethereum based project launchpads. Read: Uniswap exchange – Everything a beginner need to know

On Uniswap you can also make money by becoming a liquidity provider. This is a great way to earn passive income from your crypto holding.

3. Raydium

Raydium is part of Solana ecosystem, and can be used to swap Solana ecosystem tokens in a decentralized manner. You can connect your favorite Solana wallet, and from here on you can start swapping your tokens.

You can also become a liquidity provider, and earn the transaction fees from every swap in your pool. This is a great way to earn passive income. You can also stake Raydium token (RAY) on Raydium governance to earn a handsome staking reward. You can get the RAY token on FTX exchange.

4. Pancakeswap

Pancake swap is the most popular project on the Binance smart chain, which offers many great features. You can swap tokens, you can become a liquidity provider, and you can also stake your LP tokens to farm new tokens.

Pancakeswap also offers a native token called “CAKE” which has a lot of utility, and the value has appreciated a lot in recent time.

5. Changelly

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.

6. Waves Dex

Waves Dex or the Waves decentralized exchange is the product of Waves cryptocurrency and blockchain about which we have talked in detail on CoinSutra. You can read more about it here about it.

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.

7. Radar Relay

Radar Relay is a decentralized exchange that allows you to trade Ethereum tokens without the interference of any middleman.

To use Radar Relay, you will need a MetaMask wallet with ETH cryptocurrency on it to pay for the Gas fees, etc.

The exchange is in the beta phase currently but has sufficient volume to get your hands dirty. Also, you control your funds and the only thing that you need to take care of while using this exchange is the recovery phrase of your MetMask Wallet.

You can also use this exchange with your Ledger Nano S wallet which is a much safer option.

The volume at the time of writing on this exchange is 3 BTC with more than 40 cryptocurrencies/crypto assets pairs listed on it.

8. BarterDex

Because it uses the technology of atomic swaps, you can say BarterDex is the most advanced decentralized exchange out there.

The UI, however, is not great. Hopefully it will get better with time. BarterDex, a product of the Komodo platform, recently crossed 60,000 atomic swaps on its exchange!

Also, the new version of their GUI wallet which will be available on Windows, Mac, and Linux is under development and is expected to be much faster and user-friendly.

But for advanced users, the old GUI version is available on Github here.

So if you are a tech nerd, go ahead with your first atomic swap using BarterDex.

9. Bisq

Bitsquare is a peer-to-peer marketplace for cryptocurrencies like Bitcoins. It is a fully decentralized exchange which requires no name, email ID or verification.

To be a genuinely anonymous peer-to-peer network, it uses Tor and doesn’t hold fiat or bitcoins on their servers or in their account. Every aspect of this exchange, from placing the order, to matching the order, or executing it, is decentralized.

Currently, it supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms, but trade volumes are low.

How Bitsqaure works is beyond the scope of this article. But in the future, CoinSutra is going to cover all essential aspects of Bitsquare.

Note: Bitsquare rebranded to Bisq due to copyright issues

The volume at the time of writing on this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it.

Here is Bitsquare’s introductory video:

10. Stellar Dex

We have all heard of Stellar. It is a popular cryptocurrency and blockchain project.

The news here is, Stellar has also come up with its decentralized exchange.

To get started on using the Stellar network, you must first create a key pair which consists of two parts:

  • Public key: The public key is used to identify the account. This public key is used for receiving funds.
  • Secret key: The secret key is used to access your account and make transactions. Keep this code safe and secure. Anyone with this key will be able to access your funds on the Stellar Dex.

When you generate the key pairs for Stellar Dex, you will be given a secret key which will look something like this: SBXNBVE5RNAGP73VGAJPB4A7OW3JHRECICCUCPGCXNI24HVGFVUXOPNU

When you log in to the Dex using this key, you will be shown a public key where you will be required to deposit 20 lumens to activate your account and start trading.

The volume at the time of writing on this exchange is 55 BTC with 6 cryptocurrencies/crypto assets pairs listed on it.

Conclusion: Top Decentralized exchanges (Crypto Dex)

There are some more decentralized exchanges out there but they are either being built or have very low liquidity or are facing security difficulties.

For example:

  • Bancor Liquidity Exchange
  • EtherDelta [didn’t cover it due to its recent breach]
  • district0x
  • Airswaps [Under development]

However, irrespective of their current state, the future of decentralized exchanges looks promising.

Now it is time to hear from you: Which Dex do you use? Did I miss any major Dex with good liquidity? What do you think about the future of Dex?

Let me know your thoughts and comments in the comments section below.

Here are some more articles from CoinSutra for you:

51 thoughts on “10 Best Decentralized Exchanges That You Can Use To Trade NOW”

  1. j

    Good article. Which of those exchanges allow fiat money to open and account?
    Which allow sending and receiving fiat money to a non US bank. My bank is in Canada.

        1. e

          supposedly, yes, I know Bisq intends 2 do exactly that. But as it is completely decentralized, your trade depends on finding a maker/taker match, preferably in your own country, to utilize bank transfer.

  2. luis g de la fuente

    Hi Sudhir, some of this projects are being launched by private, centralized companies right? if that´s the case what kind of dependency do you think they may have? Could any of this project get seized or so at some point by authorities? thks for the post, nice work,

      1. A

        Hi Sudhir, thanks for nice post. I have a question. Do you know any dex on which I can be a liquidity provider instead a trader only? Thanks

    1. @Hadiren
      For now Crypto-bridge is the most active decentralise exchange that we can use. There asre few others but they don’t have so much volume. We will post about new DEX as soon as they become worth mentioning.

      1. t

        No exchanges which don’t have single points of failures can’t be shut-down!!

        No…don’t…can’t – is a triple negative.
        If I said “I didn’t do nothing”, that would be a double negative and would mean I did something. If I said “I didn’t not do nothing”, that would mean I did nothing.

        1. I

          He’s nitpicking a bit much. All you need a comma after no (“No, exchanges”).

          What are your thoughts on altcoin.io?

          1. Altcoin.io is on our radar. looks promising from the beta but not yet in production, should be good DEX.

  3. N

    Hi Sudhir,

    Thanks for the post. Really good info. Before reading this article,I was thinking etherdelta is the most popular Dex.

    Out of the 5 mentioned Dexs, which one you think gain most popularity and why ? Your explanation certainly helps.

    Looks like you have done thorough research on this topic and I echo your analysis. Decentralized exchanges have great future.

    Is these decentralized exchanges offering any coins? Would like to invest in them.

    1. I think CryptoBridge is growing very fast, however, it not the best but yeah they pay you for holding their BCO coins. So it is good from that side. BCO coins of CryptoBridge you can buy that if you want. All pros are listed above.
      Also, When Waves DEX will function properly it will be ahead because of-of its fiat gateways.

  4. M

    Good stuff on decentralized exchanges.

    Is CryptoBridge the only one you are aware of that has a staking and subsequent reward model? It’s an interesting approach for an exchange to take.

  5. Y

    I like wavesDex. It is lightning fast. The only thing I worry: you Cher BTC, LTC to waves and u actually trade the equivalent waves Token, I.e. once inside waves I don’t have the BTC private key any more. What is your opinion on that?

  6. A

    Nice one, thanks! I like IDEX indeed, been using it for quite a while. I’ve also stumbled upon this exchange DUBIEX, it looks very slick and user-friendly but on the downside, it doesn’t have much volume right now. The only ERC20 tokens that are being traded there at the moment are PRPS and DUBI which are “shares of exchange” just like binance or kucoin has.

  7. Great post! I’d like to see a list of platforms these exchanges are built on (with a description), and noting which, if any, exchanges use a decentralized orderbook.

  8. B

    Thank you. Great info.

    Do you have any information on the # of users per exchange.

    I’m concerned the volume could be due to bots.

  9. Excellent article 🙂 From the list I already traded in IDEX. Decentralization is the future!
    Keep up the great work …

  10. S
    Stacey Roberts

    Hi, Thanks for sharing this informative article. I really wonder about whether it is possible to create a fully decentralized cryptocurrency exchange websites, but it becomes possible.
    Hope in future, there will b e a plenty of decentralized exchange will occupy cryptocurrency marketplace.

  11. F

    Hey Harsh. I really enjoyed reading your article. Gave me insight and a urge to learn more. I understand with wrong information i can be lead a unfortunate path. I may be out on a limb but i sense of honesty with you and maybe you can lead me in the right direction to learning more on how to invest in these markets. Bitcoin eos RIPPLE! Thank you any information will be appreciated.

  12. A

    Hey Harsh,
    I have a ledger nano s. I’m new to crypto and I live in the US. What decentralized exchange can I use to buy Bitcoin?

  13. a

    You Left out the only real decentralized exchange and order matching service – BlockDX which runs atop of the Blocknet Protocol. Users maintain control of their tokens and private keys 100% of the time during the atomic swap. The Blocknet Protocol supports atomic swaps between any BTC style coin (LTC, DGB, DOGE, etc) and Ethereum.

  14. W

    Where is Binance, Bittrex, etc? I haven’t even heard about most of these exchanges. Where is ChanegeNOW – the most convenient?

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