Decentralization has been the key driving force of cryptocurrency since inception. This in my opinion is the attraction point for mass adoption, most especially being an alternative to centralization.
Those who use centralized exchanges, whether regulated or not, do not have any anonymity, because their personal details are being submitted.
For security purpose, a lot of crypto enthusiasts are also being careful of giving out their details to scammers, even while using exchanges.
Little do i wonder, even Binance, the world's largest cryptocurrency excahange, who knows the importance of decentralization in the crypto space, had to reveal the release of its most anticipated
Binance DEX.
Also, due to some reasons, such as the hack of centralized exchanges, lost of funds and users not having full control over their funds, more users might switch over to the use of decentralized exchanges. Which is now evident, seeing so many projects considering listing on decentralized exchanges.
This has then spurred me to give a list of some reputable decentralized exchanges that are presently operational in the crypto space, but before that, i would explain what decentralized exchange is and state some of its advantages and disadvantages.
What is Decentralized Exchange?A decentralized exchange is an exchange where the customer has full access and control over his/her fund, without the interference of a third party. On this type of exchange, private keys and coins are not stored on a central server, which is why hackers cannot find it easy to hack and steal the funds of users. This invariable means that users have the full control over their assets, unlike the case of a centralized exchange.
On decentralized exchange, trading is done on P2P (i.e, Peer-to-Peer) basis on an automated system. Therefore, eliminating the interference or service of a middle man.
Credits to CryptocompareAdvantages and Disadvantages of Decentralized Exchange?Advantages1.
Security: The most important and profound advantage of decentralized exchange is its security. It is more secured, because you do not need a central authority or third party to store your funds in a central system, which then makes it much harder to hack.
2.
Privacy: You can trade on decentralized exchange without any need of you to submit your personal information, such as your international passport, name, address, phone number and the likes. All you need is to login with your wallet details.
3.
It is Ubiquitous: DEXes can be used in countries where the use of cryptocurrency exchanges, most especially centralized exchanges are banned. Therefore, it is found and accessible to users from any part of the world.
4.
Decentralization of servers: In the case of a decentralized exchange, there is no centralized server. Considering the importance of anonymity, they are stored across serves located allover the world. You you cannot trace its use to a particular person, which also ensures more security. There is also no risk of server downtime.
5.
Presence of Actual Volume: Unlike most centralized exchanges where bots are used, there are no bots on decentralized exchanges. This invariably means that you will know the actual volume being traded.
Disadvantages1.
Non Beginners friendly: Beginners may not find it easy to use, but they can explore it and with constant use or exposure, they will find it easy.
2.
Suspense over Ownership: The creator might not be known in person, except he decides to reveal his identity, which makes him to be able to evade tax or government influence. Its use can be suspicious, but when tested over time, it can be trusted. Nonetheless, there are good numbers that have been tested and trusted, including some that will soon be lunched, such as BinanceDEX.
3.
Lack of Public Awareness: This is more reasons threads like this are very important, because there is no adequate awareness and sensitization, unlike the case of centralized exchange. Which means if you do not ask someone that knows, you may not know.
4.
Low liquidity: Due to lack of awareness, some decentralized exchanges experience low liquidity, but we are gradually tending towards that time, where liquidity will not be a problem.
LIST OF DECENTRALIZED EXCHANGES
⚫ 0x0x is an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain. Anyone in the world can use 0x to service a wide variety of markets ranging from gaming items to financial instruments to assets that could have never existed before.
CommunityTwitter:
https://twitter.com/0xprojectDiscord Chat:
https://discord.gg/d3FTX3M⚫ Altcoin ExchangeThe mission of this platform is to create a decentralized altcoin exchange built by traders for traders. It is secure and you are in complete control of your fund. You will not lose your coins through hardware failure, lost credentials, or other negligence. User experience that enables our users to make trades faster and without worrying if they’re exposing themselves to risk.
CommunityTwitter:
https://twitter.com/altcoin_ioTelegram:
https://t.me/altcoin_io⚫ AirSwapAirSwap is scalable, portable, and secure, designed for any token, on any website, on any device, and in any language. It focuses on facilitating ERC20 trades.
CommunityTwitter:
https://twitter.com/airswapTelegram:
https://t.me/airswap⚫ AllbitIt provides fully decentralized trading system without the delegation of assets, where transaction is transparent through the blockchain.
The block confirmation time for transactions, is one (1) second, which is enabled by an improved consensus algorithm.
According to
report, the 24 hours trading volume is, $44,796.33 (13.07 BTC). It is amazing that its website is most popular in South Korea with an Alexa rank of 3540.
The exchanges allows its users to trade BTC, ETH, ERC20 tokens and all cryptocurrencies in a decentralized manner.
CommunityTwitter:
https://twitter.com/allbitofficialTelegram:
https://t.me/joinchat/HdiEFBANrjf0-AVgrcbd6A⚫ AphelionThis is a cryptocurrency DEX powered on NEO blockchain, that brings about peer-to-peer trading of cryptocurrencies.
Due to its decentralized nature, it has helped to provide solution to and put an end to high fees, hijacked tokens, delays, locked trades and frozen funds. It never stores tokens, it is an open source and community driven.
AphelionDEX is available as apps and on web:
DesktopiOSAndroidMobile WebNOTE: It is the first decentralized exchange that has successfully blocked US citizens from trading, but the can access the ,mainnet.
CommunityTwitter:
https://twitter.com/apheliontokenTelegram:
https://t.me/AphelionToken⚫ BancorBancor’s decentralized liquidity network redesigns the way people create and share value by ensuring continuous on-chain liquidity between blockchain-based assets.
The exchange is meant mainly for ETH and ERC20 tokens.
CommunityTwitter:
http://twitter.com/bancorTelegram:
https://t.me/bancor⚫ BarterDEXBarterDEX is a program created by Super Net with the intent of decentralizing cryptocurrency exchanges and securing them. It promises a service that is free, secure and has easy integration with other kinds of coins.
The company claims that with the use of BarterDEX companies can avoid the worst problems caused by centralized exchanges, like hacking and thefts. These problems can make companies lose millions of dollars and are very dangerous to them.
CommunityTwitter:
https://twitter.com/komodoplatformTelegram:
https://t.me/KomodoPlatform_Official⚫ BisqBisq is an open-source, peer-to-peer application that allows you to buy and sell cryptocurrencies in exchange for national currencies. No registration required.
It uses desktop application which can be found on the website.
CommunityTwitter:
https://twitter.com/bisq_networkSlack:
https://bisq.network/slack-invite⚫ BitSharesBitshares is a decentralized exchange where you can buy and sell any cryptocurrency, fiat currency or commodities. It allows users to issue and use Market Pegged Assets (MPA) and User Issued Assets (UIA) which can be exchanged within the Bitshares DEX. Market Pegged Assets are pegged to the value of their underlying assets like the Dollar, Euro, Bitcoin or Gold. User Issued Assets can be issued by anyone, allowing users to issue stocks or other forms of assets on the blockchain.
CommunityForum:
https://bitsharestalk.org/⚫ BlockEQBlockEQ is a stellar decentralized exchange and it is the first stellar decentralized exchange and wallet on the App Store. Other versions such as android, iOS and Windows 10 are available.
CommunityReddit:
https://www.reddit.com/r/BlockEQ/LinkedIn:
https://www.linkedin.com/company/blockeq/⚫ BlockTradesBlocktrades.us is a decentralized cryptocurrency exchange. It provides a fast and direct way of trading steem for popular cryptocurrencies and other altcoins. Blocktrades brings together traders on an exchange, where they optimize trading opportunities. t also facilitate trading and transfer of various digital assets.
CommunitySteemit:
https://steemit.com/@blocktrades/blog⚫ BravenoBraveno operates a scalable token exchange with decentralized settlement, provable full reserves, and secure interfaces for managing tokens.
It is an European blockchain exchange with provable full reserves via segmented wallets and decentralized settlement for full transparency.
CommunityTwitter:
https://twitter.com/BravenoHQChat:
https://braveno.zulipchat.com/⚫ BlockEQBlockEQ is a private Stellar wallet where you can create an account with a recovery phrase that only you control. With BlockEQ you can send, receive, and trade Lumens (XLM) and Stellar Tokens on a decentralized exchange.
CommunityTwitter:
https://twitter.com/bisq_networkSlack:
⚫ BTSABCThe DEX is inherently decentralized, enabling you to trade the BitShares core token (BTS) and a range of trustless price-stable, market-pegged assets such as bitUSD, bitCNY, bitBTC, bitGold and more. These assets can all be traded with zero counter-party risk, putting you in total control of your funds.
The DEX also enables creation of user-issued assets (UIAs), which can be traded against any other UIAs or trustless assets on the platform. One well-known issuer on The DEX is OpenLedger, offering a host of assets including BTC, ETH, STEEM, DASH, LTC, DOGE, and many more. This gives cryptocurrency traders a unique blend of traditional and decentralized trading, all in a familiar exchange interface.
CommunityTelegram:
https://web.telegram.org/#/im?p=g33416306⚫ CoinchangexCoinChangeX is a decentralized Ethereum Token Exchange that allows users to securely trade ETH and Ethereum-based tokens.
CommunityTwitter:
https://twitter.com/RXCCryptoTelegram:
https://t.me/coinchangex ⚫ Counterparty DEXCounterwallet is a free web-wallet for Bitcoin and Counterparty, the world’s first protocol for decentralized financial tools. It is entirely open-source.
CommunityTwitter:
http://twitter.com/CounterpartyXCPLinkedIn:
https://www.linkedin.com/company/3644957⚫ Crypto BridgeCryptoBridge is a decentralized exchange (DEX) in the hands of BridgeCoin owners that supports trading of most popular altcoins.
It is one of the promising decentralized exchange with ongoing development and updates by the team. It has a beautiful interface, well secured and puts you in full control of your funds.
CommunityMedium:
https://medium.com/@cryptobridgeTwitter:
https://twitter.com/CryptoBridgeDiscord:
https://discordapp.com/invite/H6Qt2dQ⚫ CryptoDerivativesCryptoDerivatives.Market is a decentralised trustless ether/Ethereum token exchange contract market
Community:
CryptoCompare:
https://www.cryptocompare.com/⚫ CybexA decentralized exchange forked from BTS, higlighting atomic swap, bank-level security, centralized match-making, etc.
CommunityMedium:
https://medium.com/@cybexexchangeTwitter:
https://twitter.com/cybexexchange?lang=en⚫ DC-ExDC-Ex meaning Digital Currency Exchange, is world first peer to peer exchange platform for e-currency and cryptocurrency.
CommunityTwitter:
https://twitter.com/digitalc_exTelegram:
https://t.me/dcexchange⚫ DDEXDDEX is the first decentralized exchange built on Hydro Protocol technology, offering instant, real-time order matching with secure on-chain settlement. It is one of the top decentralized exchanges by both total number of transactions and trading volume. Realtime API. Liquidity friendly fee structure yields greater market depth.
Using Ethereum smart contracts and the Hydro Protocol, DDEX allows users to trade digital assets directly from wallet-to-wallet. No depositing required: you have complete control of your assets.
It is available both in app and web trading versions.
CommunityTwitter:
https://twitter.com/protocol_hydroTelegram:
https://t.me/ddexio⚫ DecredDecred is an autonomous digital currency. It has striven to solve blockchain governance. Its innovative consensus voting model empowers stakeholders and allows for the seamless transition from one set of rules to another. Decentralized decision-making and self-funding have enabled us to build a robust, evolving digital currency, free from third party influence.
CommunityReddit:
https://www.reddit.com/r/decred/Twitter:
https://twitter.com/decredproject⚫ DEXEOSThis is the world’s first EOS-based decentralized exchange. It is fast trading based on EOS TPS. Trading is done with personal EOS account and every airdrop will be deposited or sent into that same account.
CommunityTelegram:
https://t.me/dexeos_ioTwitter:
https://twitter.com/dexeosio⚫ DUBIexDubiEx is a fully decentralized exchange that is unique due to its truly trustless peer-to-peer nature and unique features such as zero-fee trading with a simple and user-friendly UI as well as easy and free token creation. Run by volunteers and activists, DubiEx' greatest advantage is that it is not maintained for profit but rather with the intention of helping advance the ways in which cryptocurrency can make a positive difference in the world.
The exchange is still in quite early stages, but there are plans to add ERC721 token trading, as well as some other features, such as blockchain related game items.
CommunityReddit:
https://www.reddit.com/r/PRPS/comments/7t6syq/dubiex/Twitter:
https://twitter.com/hashtag/dubiex⚫ EasyTradeEasy trade is a decentralized market place for every token.
CommunityInstagram:
http://instagram.com/easytradedexTwitter:
https://twitter.com/easytradedex⚫ EidooIt is an hybrid exchange. It is safe as decentralized exchange and fast as centralized exchange. On Eidoo, you can trade securely, while staying in control of your funds.
CommunityTelegram:
https://t.me/joinchat/F4ox3EO_ubynqlzakd6lKwTwitter:
https://twitter.com/eidoo_io⚫ EnclavesIt is a liquidity aggregator and decentralized exchange for trading Ethereum based tokens.
There is Zero fees on native Limit orders and 0.2% on native Market Orders. No additional fees for orders on other liquidity providers.
CommunitySlack:
slackTelegram:
https://t.me/joinchat/FVjP7khwC37qgT5qVdvEtg⚫ ETHERCETHERC.IO is a new fully Decentralized Ethereum Token Exchange. It’s the world’s first Decentralized Exchange that established a solution for Gas-Free trading.
CommunityTelegram:
https://t.me/ETHERC_Official_ChannelTwitter:
https://twitter.com/etherc_io⚫ EtherDeltaEtherDelta is a decentralized trading platform for Ether and Ethereum-based tokens, but you would need to deposit your coins, which can also be withdrawn directly into your wallet.
CommunityTwitter:
https://twitter.com/etherdelta⚫ EtherFlyerA truly solid decentralized crypto exchange, leveraging the power of Ethereum, and empower users to exchange in a secure and trustless fashion.
CommunityTwitter:
https://twitter.com/etherflyercomTelegram:
https://t.me/etherFlyer⚫ ForkdeltaForkDelta is a decentralized trading platform that lets you trade Ether and Ethereum-based tokens directly with other users.
This interface EtherDelta was forked, which gives birth to Folkdelta, with a ton of improvements including a much faster order processing system. It interacts with ForkDelta's revamped API and EtherDelta's original contract.
CommunityTwitter:
https://twitter.com/ForkDelta⚫ GDEXGdex is world first dex which require No deposit, no withdrawals, no wrapping ETH and trades are done directly with your wallet.
CommunityTelegram:
https://t.me/gdexexchangeTwitter:
https://twitter.com/gemsdex⚫ HeatYou must have heard of the issue of scalability which most popular blockchains face. The problem of handling ever-increasing number of transactions on the blockchain puts constantly increasing pressure on each node in the network. The HEAT technology removes this pitfall by intelligently combining the best features of the existing 2.0 cryptos with a completely remade, sliced blockchain mechanism. Using custom built storage and access solution, based on Memory Mapped Files, binary data stored on disk can be accessed at near RAM memory speeds - without the need to load this data in RAM. Splitting blockchain into separate files for various data types, the HEAT Java server can fulfill the requirements of any modern commercial fintech applications on blockchain.
Another good part of it is that, it is highly decentralized.
CommunityForum:
http://heatledger.net/Twitter:
https://twitter.com/heatcrypto⚫ Hodl HodlPeer-to-Peer cryptocurrency exchange that doesn't hold funds. It is the world’s first non-custodial OTC trading desk for Bitcoin. It pair btc with so many altcoins, including stable coins.
CommunityTelegram:
https://t.me/HodlHodlTwitter:
https://twitter.com/hodlhodl⚫ IDEXIdex is focused exclusively on the peer-to-peer trading of ERC20 tokens, but you would need to deposit your coins, which can also be withdrawn either directly into your wallet or another of your choice.
CommunityDiscord:
https://discord.gg/UHAGGBzTwitter:
https://twitter.com/aurora_dao⚫ INSTEXThis is a wallet-to-wallet trading platform that will help you to sell and buy any ERC20 token. A new DEX on 0x protocol.
Another good part of it is that, no fee is taken at the moment.
ETH needs to be deposited(wrapped) to trade with ERC20 tokens.
CommunityTelegram:
https://t.me/instexTwitter:
https://twitter.com/Instex_0x⚫ InterstellarInstellar is a multi-awesome wallet and decentralized exchange. Interstellar takes everything great Stellar has to offer and packages it into one nice coherent user experience. It has all the features on a fully decentralized exchange, where the users have full control cryptocurrencies and tokenized assets.
Community Twitter:
https://twitter.com/interstellardex⚫ KyberSwapLeveraging Kyber’s liquidity protocol to provide the simplest, easiest and most secure way to buy and sell tokens.
- Simple. No orderbooks, deposits, or wrapping
- Instant. No waiting for orders matching to happen
- Secure. No middleman and transaction risk
CommunityTelegram:
https://t.me/kybernetworkTwitter:
https://twitter.com/kybernetwork⚫ LoopringLoopring is an open source decentralized exchange, which gives users control over their funds. It also gives an avenue for DEX creators.
CommunityTelegram:
https://t.me/loopring_enTwitter:
https://twitter.com/loopringorg⚫ NebliDexNebliDex is the world's first Neblio blockchain decentralized exchange for trading Neblio, Bitcoin, Litecoin and Premier NTP1 tokens with no payment gateway.
- No central server and no central order book and charts.
- No one owns the exchange and no one can lock up your funds.
- One touch option to become a Critical Node.
- Open multiple orders at the same time.
- This website down? The exchange will still run.
CommunityTelegram:
https://t.me/joinchat/HtnRHBDA4HDzbZRGK0QBFgTwitter:
https://twitter.com/neblidex⚫ Oasis Directasis is a liquidity pool on the Ethereum blockchain. The Simple Market and Matching Market smart contracts provide for the trustless atomic exchange of ERC20 tokens without third party counter-risk.
Oasis Direct makes use of proxy contract functionality from Dappsys to bundle multiple transactions into a single call. A front-end at oasis.direct provides simplified access to multi-step trading operations on Oasis and leverage via Maker.
CommunitySteem:
https://steemit.com/@oasisdirectTwitter:
https://twitter.com/oasisdirect⚫ SingularXSingularX is a decentralized, peer-to-peer exchange built on the Ethereum Blockchain.
CommunityLinkedIn:
https://www.linkedin.com/company/SingularXTwitter:
https://twitter.com/realsingularx⚫ StellarportAlthough it is technically not a part of the Stellar Foundation, Stellarport provides direct access to the Stellar blockchain. It is an aggregator exchange that offers a convenient way in which you can manage your Stellar wallet, as well as trade in XLM and other digital assets on the decentralized exchange.
CommunityTwitter:
https://twitter.com/stellarportio⚫ StellarswapThis is also a decentralized exchange, where you can swap your stellar directly into btc and ltc.
CommunityTwitter:
https://twitter.com/SwapStellar⚫ Stellar TermStellarTerm is an open source client for the Stellar network, where you can send, receive, and trade assets on the Stellar network easily with StellarTerm.
It is an open source, which can be used to access the stellar decentralized exchange.
CommunityTwitter:
https://twitter.com/stellarterm⚫ Swap.OnlineIt uses multiple blockchains, which brings about multiple opportunities. On swap.online, there is instant exchange, with no confirmation required.
It is fully decentralized with no interference of a third party and trading is done peer-to-peer.
CommunityTwitter:
https://twitter.com/swaponlineteamReddit:
https://www.reddit.com/r/SwapOnline⚫ SwitcheoFirst Multichain Decentralized Exchange (DEX) - Cryptocurrency exchange platform for NEO and Ethereum token trades. It is built on NEO platform, which allows for the trustless exchange of NEP-5 tokens and may expand to other cross-chain tokens in the future.
CommunityTwitter:
https://twitter.com/switcheonetworkTelegram:
https://t.me/switcheo⚫ Token JarTokenJar is a decentralized Ethereum Token Exchange using the 0x protocol for maximum safe and speed. TokenJar features zero service fees and direct from wallet, without depositing your tokens. You would only need little WETH (wrapped eth).
CommunityTelegram:
https://t.me/tokenjarenglish⚫ Token StoreToken Store is a decentralized exchange for Ethereum-based tokens. Using the Token Store, users can trade most Ethereum-based tokens such as Iconomi, Augur, 1ST, and many others. The exchange currently has one fee, which is the 0.03% taker fee. Deposit, withdraw, and maker transactions are all free.
Token Store does not store or has access to your tokens.
CommunityTwitter:
https://twitter.com/tokendotstoreTelegram:
https://t.me/thetokenstore⚫ TRON DEXRXMarket is the first decentralized exchange based on TRON network in the world. It features with safety, transparency and convenience. TRXMarket is committed to be the pioneer of decentralized exchange field.
In terms of transaction authenticity, all trades are carried out in TRX smart contracts, and transaction records are stored in blockchains to achieve public and transparent ; in terms of digital asset security, users directly use wallet for transactions, as a result, exchange can not interfere with users.
CommunityTwitter:
https://twitter.com/TRX_MarketTelegram:
https://t.me/joinchat/KPVeDBPEZOQLT8fVDtPpvg⚫ WavesThe Waves DEX gives you the advantages of a centralized exchange with none of the risks; that's because “order matching is done in a centralized manner … in layman's terms — there's a server which matches incoming orders, but has no access to your funds.
CommunityTwitter:
https://twitter.com/wavesplatformTelegram:
https://t.me/WavesDEXDISCLAIMER:: The information provided in this thread is meant to help those who might be in need of information as regards the topic of discussion. It is never meant to be an investment advise. So, you should ensure you have also done your own research before use. Therefore, the author will not be liable to any loss of funds or assets in the cause of use.
There is no highland of knowledge. Advises, suggestions, corrections and the likes are welcome, peradventure there is any. I look forward to update this thread with more DEXes as they lunch. This might also come from you. Therefore, if it is genuine and reliable, i will also add it. Thanks for your anticipated contributions.UPDATE IN PROGRESS...
I want to acknowledge this post as the most educative post I have come across on the forum this year