Decentrex – Decentralized Ethereum Crypto Token Exchange?
Decentrex is a decentralized exchange that currently supports 450+ ERC20 tokens. Find out how it works today in our review.
What Is Decentrex?
Decentrex, found online at Decentrex.com, is a decentralized Ethereum exchange powered by Ethereum smart contracts. It’s an open source project where users can trade 450+ ERC20 tokens in a decentralized environment.
Obviously, decentralized exchanges have become increasingly common over the last few months. Decentralized exchanges allow users to retain complete control of their digital assets throughout the trading process. Unlike a centralized exchange, where your funds are held by the exchange, decentralized exchanges allow you to enjoy the security benefits of an exchange with the convenience of P2P trading.
All trades performed on Decentrex can be seen on the Ethereum blockchain. Although Decentrex officially supports 450+ ERC20 tokens, they claim you can trade any Ethereum-based tokens on their exchange.
The exchange was launched in July 2017. The exchange has its roots in Etherdelta. Overall, the goal is to allow users to enjoy P2P Ethereum token trading with no registration, no limits, and no barriers.
How Does Decentrex Work?
Decentrex uses smart contracts to facilitate trades between users.
One of the unique things about Decentrex is that users can create a market for any ERC20 token. You don’t need to trade your ERC20 tokens for Ethereum, for example: you can trade any two tokens with each other. As long as you can find a trading partner, you can trade that token.
Obviously, since Decentrex is a relatively new platform, there’s limited trading volume at this time – especially for some of the more obscure ERC20 tokens. However, major tokens like OmiseGO, Civic, and PAY are all gaining transaction on the platform.
The trading platform is available online through your web browser. You can access Decentrex on any device.
You can also download the Decentrex source code and run it on your own machine. If you choose this approach, then you can make changes to the platform yourself.
Some of the core advertised features of Decentrex include:
- Decentralized trading
- 100% open source, served from Github
- Based on Ethereum smart contracts
- No limits, barriers, registration, or censorship
- Works in-browser on any device or operating system
- Built-in ETH and token wallets
- Low fee trading
- 450+ ERC20 tokens available for trading
Decentrex charges no fees for deposits and withdrawals. Makers are charged a 0.0% fee, while takers are charged a 0.3% fee.
“Takers” are those that take a resting order.
Who’s Behind Decentrex?
Decentrex was built on top of Etherdelta, although the developers “remastered” the platform with a number of features to make it faster and user-friendly. Today, the code is publicly viewable at Github.
The website came online in May, then launched with a Bitcointalk announcement post in July 2017. The founders haven’t revealed much information about themselves publicly. However, you can follow their Github profile.
Decentrex is another decentralized exchange that aims to offer convenient, secure ERC20 token trading. Decentrex uses smart contracts to facilitate secure trading between individuals. Overall, the platform supports 450+ ERC20 tokens. There are no fees aside from a 0.3% taker fee.
To learn more about Decentrex, visit the platform online today at Decentrex.com.