Decentralized crypto exchange platform
DEX, a decentralized exchange platform is a place that directly connects crypto buyers and sellers basically it is P2P Peer to Peer Marketplace.
Difference between centralized and decentralized
The main difference between centralized and decentralized platforms is unlike centralized platforms need user information details including KYC or know-your-customer for opening an account, Decentralised are playing complete opposite games and they don’t need any personal or any details to be with them. It is just like a shop where you can buy sell or swap unanimously.
Which is an example of a decentralized exchange?
Selling a property is one of the best examples of decentralized exchange as seller and buyer connect together without any 3rd party.
Are there any decentralized crypto exchanges?
There are many decentralized crypto exchanges that call peer-to-peer marketplaces which help to trade without any 3rd parties. Uniswap, Pancakeswap, dYdX are a few of the famous DEX people use for the day-to-day crypto exchanges. The next question will be What is the best decentralized crypto exchange? when we talk about this subject. There are a few famous DeX people who use as I mentioned earlier under Are there any decentralized crypto exchanges? Heading. When we use DEX we need to know how we connect them properly with wallets, Like metamask , Trustwallet. Here is shows how to connect pancake swap to trust wallet . If we have no idea how to do that we will get a provider error no provider was found. Let’s talk about the decentralized crypto exchange platforms more briefly here.
What is the best decentralized crypto exchange?
As it is very default to say one best DEX I will talk about best decentralized crypto exchanges according to the ratings.
10 best decentralized crypto exchange
According to coinmarketcap Top 10 Cryptocurrency Decentralized Exchanges based on trading volumes, the market share of DeFi markets is here by 01 .Nov .2021.
- dYdX
- Uniswap (V3)
- Pancake Swap v2
- Uniswap (V2)
- Sushiswap
- 1inch Exchange
- MCDEX
- Raydium
- Honeyswap
- THORChain
| # | Name | Volume(24h) | % Mkt Share | No. Markets | Type | Launched |
| 1 | dYdX | $2,545,043,804 32.18% | 21.4084% | 13 | Orderbook | Apr 2019 |
| 2 | Uniswap (V3) | $2,116,646,783 14.66% | 17.8048% | 651 | Swap | May 2021 |
| 3 | PancakeSwap (V2) | $1,880,339,513 5.1% | 15.8171% | 1848 | Swap | — |
| 4 | Uniswap (V2) | $806,163,126 26.88% | 6.7813% | 1647 | Swap | Nov 2018 |
| 5 | Sushiswap | $522,868,800 2.44% | 4.3983% | 412 | Swap | Sep 2020 |
| 6 | 1inch Exchange | $277,080,760 21.67% | 2.3308% | 1946 | Aggregator | Mar 2019 |
| 7 | MCDEX | $248,508,458 1.44% | 2.0904% | 8 | Nov 2019 | |
| 8 | Raydium | $238,589,210 4.11% | 2.007% | 140 | Swap | Feb 2021 |
| 9 | Honeyswap | $228,501,573 0.66% | 1.9221% | 66 | Swap | Jul 2020 |
| 10 | THORChain (ERC20) | $198,797,066 133.9% | 1.6722% | 15 | Apr 2021 |
The list of a decentralized exchange is here but if we talk about the top decentralized exchange by volume we have to dig deeper into DEX. That is what Coinmaeketcap has done and is listed in the table above. And these are the best Decentralized crypto exchange 2021.
We are not financial advisers. Here we bring you only the information and we don’t have any responsibility for your financial activities using this information.
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