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Wednesday, 17 January 2018

Top 10 decentralized exchanges for trading in 2018

As we all are aware that centralized cryptocurrency exchanges are good for trading but not that much secure in keeping your coins. We have heard a lot of cases in which people complaints about their crypto coins have been stolen from centralized exchanges.

Therefore we have no options as other exchanges which are decentralized are actually taking time as they are still being built.

So are there any crypto exchanges which are safer than these centralized exchanges in 2018?

If you are asking this question again and again with yourself then YES you are at a right place as I am going to tell you some top decentralized exchanges for cryptocurrency trading which can be used recently.

Once these Dex are ready to use for trading online then it will be a huge success as people will be able to join without worrying about the safety and security of their funds.

So let’s get in line and have a look at these decentralized exchanges (Dex) which can be used for trading online in 2018.

Decentralized-exchanges-Dex
Credits: https://decentralize.today/where-the-hell-is-my-decentralized-exchange-adafd87dc439




Top Decentralized Cryptocurrency Exchanges For Trading In 2018 Are:


1. Bitshares

BitShares-Dex
Credits: https://decentralize.today/how-we-raised-3-500-to-create-our-own-coin-on-bitshares-b45119070836

Bitshares is the 1st most decentralized exchange which is put to use for crypto trading. This exchange receives a huge amount of traffic volume and has its own currency, Bitshares (BTS).

Through this exchange, people can trade in crypto coins like BTS, User Issued Assets (assets which can be issued by anyone in terms of currencies and so on).

Getting approved for a fiat access in BitShares exchange is a very quick process for those who want to fund their trading account by using their own native currency.

BitShares Asset exchange has a daily volume of 26 million dollars with 16 cryptocurrencies/assets listed on it.

2. Waves Dex

Waves-Decentralized-Exchange
Credits: https://blog.wavesplatform.com/waves-decentralized-exchange-and-safe-trading-of-blockchain-assets-8e54422cda25


Waves Asset Exchange is a decentralized exchange made on waves blockchain which allows users to trade in altcoins like BTC, ETH etc in exchange for waves with low transaction fees.
Deposit or withdrawal of your currency is possible through KYC.

The best part of this platform is that it records all the transactions on wave’s blockchain. With a growing technology and new innovations on the way, the future of waves is bright.

The daily volume of this exchange is approx. 2 million dollars which are quite awesome for a decentralized exchange with 72 cryptocurrencies listed on it.

You can also make your own custom cryptocurrency on waves platform by using one waves token.

3. NXT

Nxt-Asset-Exchange
Credits: https://nxtplatform.org/what-is-nxt/asset-exchange/


Nxt is a fully functioned decentralized crypto exchange which can be used for trading. It is an open source and free to join which allows fast and secure trading for users online.

This platform allows people to trade assets and these assets can only be exchanged for the NXT coin.

Users cannot exchange assets for other crypto coins and even for other assets.
It also provides various opportunities to new businesses and startups.

As I told you earlier that NXT is an open source so anyone can create his own currencies, tokens etc and trade directly on the blockchain platform which also eliminates the third party interference.

Prices of all coins are presented in their own coin NXT. It has a daily trade volume of 15 thousand dollars with 4 assets listed on it.


4. CryptoBridge Dex

CryptoBirdge-dex
Credits: https://uslifed.com/exchange/decentralized-cryptocurrencies-exchanges


CryptoBridge is a new decentralized exchange in the crypto market. CryptoBridge is controlled by BridgeCoin owners.

They have mainly worked on the loopholes of trading in cryptocurrencies online by eliminating a single point of failure.

All the transaction like deposit or withdrawal is transparent and are stored on blockchain network which allows users to complete his transactions even when cryptoBridge goes bank corrupt as only the users have access to their private keys.

As a Dex, this platform is made on top of Bitshares blockchain network.
But it has some very unique features that make it different from other centralized exchanges such as:-

The login process of CryptoBridge is very simple and easy to use where you just need to select a different username and a cryptographic password will be generated automatically which need to be kept safe and secure with yourself.

The trade volume of this crypto exchange is 3 million dollars with more than 50 cryptocurrencies listed on it.

5. OpenLedger Dex

OpenLedger-decentralized-exchange
Credits: https://steemit.com/cryptocurrency/@cryptomcat/underdog-exclusive-coin-excl-169-at-openledger-decentralized-exchange


OpenLedger is also a popular decentralized cryptocurrency exchange which is made on Bitshares platform and powered by graphene technology which offers other blockchain based services.

This Denmark based company was founded in 2015 with the motive of solving the problems like speed, security, and transparency of the transactions taking place in this network.

It also has an advertising technology called as hubDSP, where tokens are known as OBITS and even crowdfunding is named as ICOO which together with known as the OpenLedger ecosystem.

It has got its name OpenLedger ecosystem because it lies in the center of the ecosystem and all other ICOO and OBITS revolve around them.

OpenLedger has a daily volume of around 4 million dollars and has more than 100 crypto coins listed on it.

You can register at OpenLedger very easily by Entering your name and the password will automatically be generated for you. Then you need to confirm that password by copy-paste and note that you have to keep that password safe for yourself.

6. Counterparty DEX

CounterParty-decentralized-crypto-exchange
Credits: https://counterparty.io/docs/buy_and_sell_assets_on_the_dex/


It is a peer to peer decentralized crypto exchange use to create financial applications on the bitcoin blockchain.

Just like NXT, the counterparty is also an open source and its wallet is called as Counterwallet. It also has its own native currency XCP  which was issued with a motive “Proof of burn”.

This method allows the users to send bitcoins to a unique address through which it becomes unspendable and secure.

Counterparty exchange allows users to exchange assets directly without any role of the third party which eliminates the risk of the transactions taking place within the decentralized exchange.

A user can easily create an order by stating these following points:
• His/Her address (source1)
• The asset he/she will give (give_asset1)
• The quantity of give_asset1 he/she will give (give_quantity1)
• the asset he/she will get (get_asset)
• the quantity of get_asset1 he/she will get (get_quantity)
• how long before his/her order expires (expiration1)

Counterparty has a daily volume of more than 20,000 dollars with a total of 8 coins listed on it.


7. Stellar Dex

Stellar-dex
Credits: https://twitter.com/naobtc/status/877435218436571136


The stellar platform uses blockchain for fast and secure transaction among its users and it is also a popular cryptocurrency with a huge demand in the crypto market.


Since Stellar is one of the best decentralized crypto exchange, the users can transfer assets with an ease regardless of country.


All transactions taking place in Stellar Dex is cryptographically secure which takes less than 5 seconds to complete a transaction.

If you are willing to use stellar then the first step is to create a key pair which is a must.


The key pair consists of two parts:

Public key: It is used to recognize the account which allows a user to receive funds.
Secret key: It is used to access and fulfill your transactions. This code should be kept safely in a secure place by you. This key should be kept in private as it is used to access your funds on the Stellar platform.

Now when you log in to the Stellar Dex using this secret key you will be shown a public key where the account holder must have at least 20 lumens to fully operate his account for trading.

The daily volume on this exchange is 3 lakh dollars with 5 crypto coins/assets listed on it.


8. BitSquare (Bisq)

Bisq-decentralized-exchange
Credits: https://steemit.com/dash/@burnthamsterpub/bisq-decentralized-exchange-adds-dash-fiat-and-alt-pair-trading


BitSquare is a fully operational decentralized p2p marketplace for cryptocurrencies like Bitcoins which is super safe in terms of security.

This Dex does not need any kind of verification while joining and users can even purchase bitcoins with direct bank transfers.

Bisq platform secures its user's privacy by using Tor and doesn’t store any currency or bitcoins on their servers or account. BitSquare is fully working decentralized exchange from placing and executing the order on this platform.

Note: Bitsquare was changed to Bisq due to its copyright theme.

Currently, Bisq has a daily trade volume of more than 50 thousand dollars which is low as compared to the other big Dex’s and 12 cryptocurrencies are listed on it.

9. EtherDelta

EtherDelta
Credits: https://steemit.com/blockchain/@cyntechtic/etherdelta-a-fully-decentralized-exchange


It is a decentralized exchange as this platform allows users to trade in ethereum. This Dex allows trading in a bunch of new tokens before its available to everyone in the crypto market.

For trading, users need to have a wallet software or a chrome plugin to buy or sell the coins on this exchange.

If you want to list your token on EtherDelta then you must tell them personally with this required information:

• Token address (should be a verified code on Etherscan)
• Token must appear on the Official Website for verification
• Full description in a paragraph about your token.

This exchange has a daily volume of 11 million dollars which makes it popular among the users and 310 cryptocurrencies are listed on it.

10. BarterDex

Barter-dex
Credits: https://www.komodoplatform.com/en/technology/barterdex


BarterDex is created by Super Net with a motive of securing the user's transactions from getting hacked or stolen from the exchange.

This Dex has also solved the problem of disappearing from listings on the exchange which eliminates the further reduction in its value.

BarterDex uses Agama Wallet App which combines all the cryptocurrencies in such a way that these coins are visible to everyone as they are listed in their system.

This Dex mainly focuses on the companies using own altcoins so users can keep an eye on the companies listed on it before making any further investments.

BarterDex receives a very low daily volume of around 5 thousand dollars.

Want to know more about cryptocurrency? Then here's the Beginner's guide to understand the concept of cryptocurrency and its market


Conclusion – About Decentralized crypto exchanges (Dex)


There are several other decentralized crypto exchanges which are developing really fast as per the growing needs of the uses for more Dex.

On the other hand, there are few best decentralized exchanges present in the market with a very low liquidity and facing other security-related problems.

Other such lists of decentralized exchanges are:

• Bancor liquidity exchange
• District0x
• PAX(Pegged Asset Exchange)
• EasyDex

With no decentralized exchanges, there will always be the role of middlemen controlling the flow of value. So, therefore, the future is bright and promising for more decentralized exchanges because it solves the major issues which users are facing today which is safety and security of their transactions.

So that’s all for now but wait….!!let me ask you which Dex are you using and find it more convenient? Did I miss something then let me know about other Dex which is worth to look?

Let me know your experience in the comments section below.

Want to read more interesting articles on cryptocurrency then here you go:

The mysterious creator of bitcoin (An Untold Story)
Is it the right time to invest in bitcoins?

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