Top 5 Decentralized Crypto Exchanges

By Rushali Shome

Even when we follow all the ways to secure crypto wallets, we cannot feel absolutely safe. After all, with the history of hacks in exchanges like Mt.Gox and BitFinex, concerns about the security of crypto on centralized cryptocurrency exchanges are quite natural. To deal with those issues, decentralized exchanges may be your best bet. Today, we will list for you the top 5 decentralized cryptocurrency exchanges.

Some crypto enthusiasts choose a decentralized cryptocurrency exchange over a centralized one as the former not only upholds the spirit of decentralization inherent in crypto but also guarantees a higher degree of privacy and often, security. Decentralized exchanges also have no single point of failure, making them safer in general. The following are top 5 decentralized exchanges in the crypto market:

1. IDEX

IDEX is a decentralized cryptocurrency exchange that was developed keeping Ethereum-based tokens, especially ERC 20 tokens in mind.

As a very large number of tokens in the crypto market are made according to the ERC 20 standard, this exchange allows users to work with a large number of tokens. It also has quite low gas prices, making transactions particularly affordable.

You May Also Read: Top 10 Cryptocurrency Exchanges for 2019

2. Paradex

Backed by top crypto exchange (and a well-known name in the market) Coinbase, Paradex is a great decentralized exchange that allows for peer-to-peer exchanges of ERC 20 tokens in real time.

It is absolutely decentralized and offers a great hybrid solution for its relay and off-chain components.

3. 0x

0x (pronounced zero-ex) is a well known protocol that not only supports every kind of token built based on any Ethereum standard (not just ERC 20) but also supports relayers decentralized applications (dApps) on top of its own protocol.

With a decentralized system of governance and non-custodial trading, it is definitely one of the topmost decentralized exchanges to choose from.

You May Also Read: A Beginner’s Guide to 0x

4. Bisq

Bisq is another great peer-to-peer option you can definitely go for in terms of crypto exchanges.

On this exchange, you can easily buy and sell your crypto holdings against fiat currency (national currencies in particular) as well.

With a decentralized system of arbitration, security deposits and multi-sig trade wallets, this is one of the most secure options to go for.

5. VDex

This is an incredible decentralized exchange that has extremely cool integrations: a Vespucci analytical tool and a wallet called Verto. With facilities for atomic swap, multi-currency storage and flexible transactions, VDex easily earns its place in the top 5.

It provides for easy-to-use transactions with non-custodial trading, giving you all the more reasons to use it.

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Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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