We are so used to a centralized system that decentralized approach becomes a bit scary. Sure, a centralized system is good but it has from time and again faced many challenges regarding its safety.
In some way I feel that we are forced to use a centralized system, one of the reasons is that it is the only system that we have. So having a decentralized system in place is a breath of fresh air. So it is important to talk about which is the best-decentralized exchange for you to use and below I have summarized just that.
Waves Dex, also known as Waves decentralized exchange was launched by Waves platform which is a cryptocurrency and bitcoin platform. Waves Dex will give you the benefits of both centralized and decentralized system. It lets you control the blockchain funds, sling with using a centralized system for matching service, even though Waves Dex is a decentralized system.
A Denmark based company that offers its users a decentralized solution to handle their blockchain. They leverage BitShare’s technology to provide their services. Furthermore, their account opening process is very easy and it does not require the users to go through any KYC processes.
You just need your login credentials – username and password and do not forget them as this is the only way you to sort things if in case something goes wrong.
This is a fairly new application in the world of the decentralized crypto exchange market. It runs above the BitShares Network and supports most of the popular altcoins. Remember to always remember your private keys, so that you have access to your funds.
But this exchange can be regarded as different from other exchanges.
It has a BCO token that is known as BridgeCoin and allows to share 50% of the revenue with the BCO holders. Apart from this, it has made the login process very simple where it will automatically generate a password for you after you identify your unique username.
Bisq (aka BitSquare)
A peer-to-peer marketplace that follows a decentralized system meaning that you do not need any email ID or name. You do not even need to go through any verification. It does not deal with fiat currencies and uses Tor so that the users get to use the decentralized system in an anonymous way.
Read This Also:
It is also available on Windows, Max and Linux and currently supports 126 cryptocurrencies.
Stellar is a cryptocurrency project that has launched its decentralized exchange as well, which is known as Stellar Dex. For the exchange, you need to create an air first that has two divisions to it – Public Key and Secret Key.
The Public Key helps in identifying the account which is used to receive the funds. On the other hand, Secret Key is used for accessing the accounts so that you are enabled to make transactions. The Secret Key should be kept safe because if anyone else is able to access this Key would also be able to access your funds.
After you access your account using the Secret Key you will be shown your Public Key and to trade on it you would be required to deposit 20 lumens for the activation of the account.