Top Decentralized Exchanges to Review: Paradex, DDEX, OasisDEX, Dexy and ERC dEX


Top 5 Up Coming Decentralized Exchanges to Keep an Eye on

Competition in the world of decentralized exchanges is heating up. But hey! This is a good thing considering that the industry is in dire need to more decentralized players to provide more appealing services and improved liquidity. Here are top five projects that have the potential of making cryptocurrency mainstream.

DDEX

This platform is among the most popular decentralized exchanges. It is built on the Hydro Protocol, offering secure on-chain settlement and order matching. The platform allows users to trade a variety of tokens, with trading pairs being denominated in TUSD, DAI and WETH.

OasisDEX

This is another decentralized exchange making waves in the crypto world. The best thing about it is that it supports plenty of ERC20 tokens, but to access the platform you will need to have an Ethereum-compatible client. Also, its overall liquidity is still low, but that’s to be expected considering that not many users have adopted it since its launch.

Dexy

This exchange is currently in beta, allowing users to test it without paying any fees. It lets you trade tokens directly from your wallet, offering a good level of support for many tokens. Since its adoption is still low, only a few coins generate any considerable liquidity, as of now, but this is normal considering that the idea of a decentralized exchange is still a new thing.

ERC dEX

ERC dEX is a peer-to-peer trading platform mostly for ERC20 tokens. It allows users to trade directly from their wallets without having to create an account with the platform. It supports dozens of altcoins and is compatible with most popular wallets in the market.

Paradex

The concept of this decentralized exchange is pretty simple. Just like other exchanges of the same nature, it allows users to trade directly from their Ethereum wallet without registering an account. Currently, it offers just a handful of trading pairs for its users, including one against the DAI stablecoin. So far, no considerable liquidity has been generated, but the situation is likely to change with time as decentralized exchanges become popular.

Conclusion

Decentralized exchanges are fairly a new thing. Most sites that have launched are still in their testing state, with some like Ethfinex already making considerable trades. The covered platforms are some of the not-well-known decentralized exchanges that are likely to take the industry by storm with time.

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