9 Best Decentralized Exchanges Which You Can Use To Trade Right Now

 Are you afraid of your cryptocurrencies being stolen on centralized exchanges?

Are you looking for much safer and secure strong>cryptocurrency exchanges?

If your answer is YES (!) for these questions then I think we have the same concerns.Centralized cryptocurrency exchanges are good but not the best in terms of safety when used. Moreover, incidences such asMt. Gox hack and Bitfinex hack are not a news anymore as most of us know about it.But still, we are actually forced to use these centralized exchanges which fundamentally violates the basic tenants of a decentralized crypto economy.Yes, forced to use because we don’t have another option as the decentralized cryptocurrency infrastructure and decentralized exchanges are still being built. 

 But believe me when it is ready in a full-fledged manner it will be breath a new life itself into the crypto-sphere because then people will be able to participate without worrying about the safety of their funds.I too have previously shed some light on why decentralized crypto exchanges will be the future. If you wish you can read this full story: Why Are Decentralized Exchanges The Future Of Cryptocurrencies?So in line with that, it becomes very obvious that we start looking around and find out which are the best-decentralized cryptocurrency exchanges that can be used right now to trade. 

 1. IDEX 

IDEX is a popular decentralized exchange that allows you to trade ERC-20 tokens with ease. It is the best alternative you can get for EtherDelta and is way better and user-friendly than ED. It is also amongst the top decentralized exchanges in terms of volume.On the first look itself, their order book looks much cleaner and you also get access to analysis tools for doing TA and charing if you like. (here are some of the official IDEX guides that can help you get started.)You can also use IDEX with MetMask or Ledger Nano S like wallets to further strengthen your security while using this exchange.The volume at the time of writing on this exchange is 360 BTC which I think is very good for a decentralized exchange with 130 cryptocurrencies/crypto assets listed on it.Note: While you register on IDEX Dex don’t ever forget to keep your back phrase/password/private keys safe because that is the only thing that will help you restore your funds.

 2. Waves Dex 

 Waves Dex or Waves decentralized exchange is the product of Waves cryptocurrency and blockchain about which we have talked in detail on CoinSutra too. If you wish you can read here more about it.Waves Dex provides you the best of the two world’s by providing you control of your funds on the blockchain and accelerates the exchange process by using a centralized matching service.

This way you get the best of both the centralized and decentralized worlds.WavesDex is a decentralized exchanged built on the Waves blockchain. It allows users to trade their BTC/ETH/etc. in exchange for Waves (or any other asset token issued on the Waves platform).

The volume at the time of writing on this exchange is 187 BTC which I think is decent for a decentralized exchange with 72 cryptocurrencies/crypto assets listed on it.

Note: While you register on Waves Dex don’t ever forget to keep your back phrase safe because that is the only thing that will help you restore your funds.

 3. OpenLedger Dex [Bitshares]


 OpenLedger is a blockchain based company based out of Denmark that provides decentralized solutions for the crypto market.They have a decentralized exchanged known as OpenLedger Dex which is leveraging BitShare’s graphene technology to cater its services.Opening an account on OpenLedger is quite easy as it doesn’t require any registration or KYC to start with.

 The only thing that you need to take care is your login password and username because that is the only thing which can help you in case something goes wrong. Your password will look something like this –P5K1qu91RAGxbc2xnH9sKvhCb31ocokr1XEKLmVXfBQFPThe volume at the time of writing on this exchange is 320 BTC which I think is decent for a decentralized exchange with 125 cryptocurrencies/crypto assets pairs listed on it.

 4. CryptoBridge Dex 

 CryptoBridge is a new entry in the decentralized crypto exchange markets. CryptoBridge is a decentralized exchange running on top of the BitShares Network. It supports decentralized trading on all popular altcoin pairs without a single point of failure. You always hold the private keys to your funds, only you have access to them.But it certainly has some USPs that makes it different than other centralized exchanges such as:-

It has native BCO token called as BridgeCoin.

It allows BCO token staking and 50% revenue share with BCO HODlers.

It has no single point of failures because of its federated servers.

The login process is quite simple where you just need to select a unique username and a cryptographic password will be generated automatically which you need to note down and keep it safe.The password will look something like this-P5K19WQQp1WWtWQjXwDA2cmPpoyqJhcCfhqYQt5TFC4tWThe volume at the time of writing on this exchange is 201 BTC which I think is decent for a decentralized exchange with 38 cryptocurrencies/crypto assets pairs listed on it.

 5. OasisDex> 

 Oasis Dex is another decentralized exchange by MakerDao that allows you to buy cryptocurrencies. However, the exchange is in alpha testing phase and not recommended for trade that much. But despite that, you will find a good volume on it for 3 cryptocurrency pairs namely ETH/DAI, MKR/ETH, MKR/DAI.You will be required to access this exchange by making an account on MetMask because it is an Ethereum DApp.The volume at the time of writing on this exchange is 90 BTC which I think is decent for a decentralized exchange with 3 cryptocurrencies/crypto assets pairs listed on it.

6. Radar Relay 

 Radar Relay, a decentralized exchange that allows you to trade Ethereum tokens without the interference of any middleman ..

 The exchange is in beta phase now but is having sufficient volume to get your hands dirty. Also, here you control your funds and the only thing that you need to take care of while using this exchange is the recovery phrase of your MetMask Wallet.

You can also use this exchange with your Ledger Nano S wallet which is a more safer option to do so.The volume at the time of writing on this exchange is 3 BTC with more than 40 cryptocurrencies/crypto assets pairs listed on it.

 7. BarterDex 

 BarterDex is the most advanced decentralized exchange you can say because it using the technology of atomic swaps> to be decentralized.However, the UI is not that great now but the way it looks now shows it will get only better with time. Recently BarterDex, which is a product of Komodo platform that crossed 60,000 atomic swaps on its exchange recently.

Also, the new version of their GUI wallet which will be available on Windows, Mac, Linux is under development and is expected to be much user-friendly and fast.But for advanced users, the old GUI version is available on Github here.

So if you are tech nerd go ahead and do your first atomic swap using BarterDex.The volume at the time of writing on this exchange is 2 BTC with more than 80 cryptocurrencies/crypto assets pairs listed on it.

 8. Bisq (aka BitSquare) 

 Bitsquare is a peer-to-peer marketplace for cryptocurrencies like Bitcoins. It is a fully decentralized exchange which requires no name, email ID or verification.To be a truly anonymous peer-to-peer network, it uses Tor and doesn’t hold fiat or bitcoins on their servers or in their account. Every aspect of this exchange is decentralized from placing the order, to matching the order, to executing it.

Currently, it supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms, but trade volumes are low. 

 How Bitsqaure work is beyond the scope of this article. But in the future, WE  is going to cover all important aspects of Bitsquare…

 Note: Bitsquare was rebranded to Bisq due to copyright issues. The volume at the time of writing on this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it. 

  

 9. Stellar Dex 

 Stellar which we all know is a popular cryptocurrency and blockchain project has also come up with its native decentralized exchange.To get started on using the Stellar network, you must first create a key pair. The key pair consists of two parts:

Public key: The public key is used to identify the account. It is also known as an account. This public key is used for receiving funds.

Secret key: The secret key is used to access your account and make transactions. Keep this code safe and secure. Anyone with this key will be able to access your funds on the Stellar Dex.

You when you generate the key pairs for Stellar Dex you will be given secret key which will look something like this –SBXNBVE5RNAGP73VGAJPB4A7OW3JHRECICCUCPGCXNI24HVGFVUXOPNUAnd when you log in to the Dex using this key you will be shown a public key where you will be required to deposit 20 lumens in order to activate your account and start trading.The volume at the time of writing on this exchange is 55 BTC with 6 cryptocurrencies/crypto assets pairs listed on it.