Which decentralized exchanges (DEX) are the best ones to use now? Help me plz

[OcTradism]

Hi,

I am newbie (my rank is a member but I am still a newbie). I read some articles, topics and posts and realised that people warned that it is bad to store money on exchanges, especially centralized ones.

It is not a guarentee that decentralized exchanges are better than centralized ones but if for very short term, I understood decentralized exchanges are likely better.

Unfortunately, I don't find any sites that categorise exchanges as centralized and decentralized. If you know it, please help me.

[masulum]

Unfortunately, I don't find any sites that categorise exchanges as centralized and decentralized. If you know it, please help me.

You can read see some list of Decentralized and Centralized exchange from this post. Make sure do a research before using one of them, because anything can be change, as you see that list updated on 2018.

[joniboini]

Are you looking to trade or store your crypto? If it's the latter then both dex or cex is equally bad. Store it on your hardware wallet (if you have it) or your secured hot wallet, like Electrum.

If it's the former, then there's a lot of dexes out there. Simply google "decentralized exchange for _insert your coin here_". For ETH, Forkdelta & IDEX are the most famous exchange. For Bitcoin it's Bisq. If you need better liquidity and you trade less than 2 BTC, I suggest to use an exchange like Binance instead and transfer your funds asap after you finished your trade.

[SFR10]

Unfortunately, I don't find any sites that categorise exchanges as centralized and decentralized. If you know it, please help me.

Here you go: CoinGecko's exchange list ^{[in order to see only "decentralized exchanges", just click "filter" then tick "Exclude Centralized" box]}.
- Regardless of their respective "trust scores" on that site, always search for their names on "Scam Accusations" board.

[Cointikka]

There are a lot of DEX that are active presently but very few of them have actual volumes. I mostly use these two DEX, Idex and Binance DEX because of their layout, user interface and speed(speed has been always an issue with DEX).

The other reason are because IDEX is an ERC-20 based exchange and  Binance DEX is based on Binance Blockchain.

Almost all new and upcoming projects use either of these two DEX exchanges

[XZERO1]

Unfortunately none of the known decentralized exchanges are actually decentralized anymore and it's just about making you think they are, for instance Idex which should be on top 2 or 3 atleast based on actual volume(not their reported volume) now making users to go through KYC to be able trade, how exactly is that decentralized ?

If you want to be safe and hold any coin/token just better to use your personal wallet (that you have the private key to), offline wallets are way safer so I recommend them, and if you just want to trade use one of the normal well known reputable centralized exchanges that doesn't ask you to go through kyc for trading or withdrawal and just withdraw from there to your wallet after you're done with the trading.

[bitmover]

I agree with ETFbitcoin


None of those exchanges mentioned are decentralized, but etherdelta and other Dex based on ethereum smartcontracts. Unfortunately you can only trade ether and tokens there.

Until we have a truly atomic swap going on there will be no Dex between two different blockchains.

[panganib999]

If you're looking for secure storage of your coins, just go and get a hardware wallet like what others have recommended. Its a lot safer and you can manage it 24/7 unlike DEX. Desktop wallets are an option but not a recommendation. Also, you already stated that most have said that its bad to store coins in a exchanges, so why are you still looking for a DEX?
If you don't have enough for a hardware wallet I suggest looking for a clean pc you aren't using to surf the net and get a desktop wallet and store your coins there. Just use that pc for storage. Could prevent malware from going there if you don't use your net.

[LbtalkL]

Store funds on exchanges either Centralized or Decentralized for short term only don't hold funds there for a long term it is not safe.
If you want to use CEX use exchanges with Insurance like binance they call it Secure Asset Fund for Users (SAFU). If they got hacked they can refund immediately.

Anyways here is the DEX that I have used. (Try in your own risk)

For Binance Chain:
https://www.binance.org/

For Ethereum:
https://idex.market/eth/idex

For EOS:
https://newdex.io/

For NEO:
https://switcheo.exchange/

[khaled0111]

DEXs are way better in terms of privacy and anonymity than centralized exchanges. Also, CEXs are more susceptible to hacks than DEXs.

However, which one to use, depends on the pairs you want to traid. Decentralized exchanges suffer from low trading volumes and the inability to trade coins not working on the same blockchain.

It's also important to note that many exchanges promote their service as decentralized which in most cases is not true.

Whether you use a decentralized exchange or a centralized one, don't keep your coins on them.

[dkbit98]

Check out this nice article with list of  decentralized exchanges:
https://defiprime.com/exchanges

I would say that best dex so far is Bisq exchange, and for ethereum blockchain it is Idex.

[o_e_l_e_o]

Unfortunately none of the known decentralized exchanges are actually decentralized anymore

Many aren't, and you rightly point out that IDEX claiming to be decentralized whilst still asking for KYC verification is a joke, if not outright scammy. There are still a few good DEXs out there though. I frequently use BISQ and have no complaints so far.

if you just want to trade use one of the normal well known reputable centralized exchanges that doesn't ask you to go through kyc for trading or withdrawal

This is an option, but you still have to accept many of the risks and drawbacks which go along with using centralized exchanges - less privacy, withdrawals being denied, accounts being frozen, etc. I'd still rather choose BISQ.

[Annisa_crypto]

Yes, there is no guarantee about both centralized and decentralized exchange but it depends on which exchange you are using for your transaction. Yes, decentralized exchanges are good because you don't have to store your coins in an exchange wallet. You have full control over your funds. One thing good about centralized exchanges yo don't have to go through the third party while buying or exchanging. But before making any decision do your research and also you can google it about the decentralized exchange.

[OcTradism]

You can read see some list of Decentralized and Centralized exchange from this post.

That topic is inactively updated. Crypto Bridge has 'scam exitted', something like that but it has not yet updated in that topic.

Are you looking to trade or store your crypto? If it's the latter then both dex or cex is equally bad. Store it on your hardware wallet (if you have it) or your secured hot wallet, like Electrum.

Thank you, joniboini. It is a precious warning. I only plan to trade shortly and don't store my money on exchanges, both centralized or decentralized.

Here you go: CoinGecko's exchange list ^{[in order to see only "decentralized exchanges", just click "filter" then tick "Exclude Centralized" box]}.
- Regardless of their respective "trust scores" on that site, always search for their names on "Scam Accusations" board.

Thank you too, SFR10. I don't know that site and your tips on Trust scores and Scam accusations are great too.

Most DEX actually are centralized exchange or only partially decentralized (e.g. no central server).

Thanks, it is another thing I learned in crypto.

[libert19]

...and for ethereum blockchain it is Idex.

Uh no. It's semi decentralized and recently they started asking for kyc.

Forkdelta is better, it's ui/ux sucks however.

[joniboini]

Forkdelta is better, it's ui/ux sucks however.

The problem with them is liquidity and probably fees. IMO it's not worth it to use dexes if your tokens are listed on somewhere else like Binance. Especially if there's no KYC required.

[nutella_11]

If you are looking for an exchange, I recommend you to check CoinDeal. This cryptocurrency exchange is one of the best exchanges worldwide in my opinion. It's ideal for beginners because it's super user-friendly. CoinDeal is fully involved in its community activities. There are a lot of initiatives for users like for example CDL Tokens which could lower your fees.

[Negotiation]

It is difficult to say which decentralized exchange (DX) is best for use now. But I think if you want to use a decentralized exchange (DX) then Binance is good. Also, you need to research and balance the relationship before exchanging it. You will need to verify that it is secure before trading.

[poochpocket]

Forkdelta is better, it's ui/ux sucks however.

The problem with them is liquidity and probably fees. IMO it's not worth it to use dexes if your tokens are listed on somewhere else like Binance. Especially if there's no KYC required.

Forkdelta really sucks, it has a bunch of garbage coins stuck on. Its basically an unmanaged exchange and one should avoid trading on such. And of course its is not decentralized, rather none of them are fully so choose wisely.