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At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding.
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What is a DEX? DEX stands for Decentralized Exchange, but if you don't know what centralized and decentralized exchanges are, here is a brief explanation. In general, Token swap platform development an exchange is a market where people have the option to exchange goods, be it stocks, commodities, securities, and among the many things are cryptocurrencies. Centralized exchanges are services where the exchange is the intermediary between you and the person you are trading with. The service will keep both active until you and the other person fulfill your end of the bargain and then release them. Decentralized exchanges are those where a broker is not present, and you are working in a trustless environment. The saving grace is that you rely on atomic swaps and smart contracts to not be gamed.
The best decentralized exchanges Since decentralized exchanges are not as popular as centralized yet, I compiled a list of the best decentralized exchanges. Note that they are not ordered from best to worst or vice versa. Wave You may have heard of the cryptocurrency Wave , and the exchange is based on the same blockchain network. Waves DEX was founded in 2017, and it offered something that most other decentralized exchanges didn't. This popular DEX is decentralized, so the need for a middle man is eliminated and you control your funds on the network. There are 52 trading pairs on Waves, and while the main reason it exists is for its own cryptocurrency, others are available. You will be able to trade most of the popular currencies like Bitcoin, Bitcoin Cash, Ether, Dash, Monero and some others.
Binance Yes, I have mentioned a scandal with Binance in the past involving stolen or lost coins. That Binance and this one are different. In all honesty, they both come from the developer team, and the difference is centralization. The Binance exchange that we all know is the centralized one that is one of the most popular exchange platforms in the world. Idex If this is your first time trading cryptocurrencies, then Idex may be the best platform to start with. The platform has one of the cleanest and most user-friendly interfaces of any crypto exchange on the market. The idea is to give users a great experience, and the fact that they offer multi-wallet support and around 400 crypto pairs for trading makes Idex a great option. The same can be said even for veteran traders.
Tips for decentralized exchanges • Now that I have outlined what I think are the top decentralized exchanges, here are some tips for choosing the best one for you. • My list of decentralized exchanges is relatively short compared to all the exchanges available on the market, so don't get attached to it at any cost. If none of my suggestions work for you, there are other fish in the sea. • When you choose the exchange platform, please double check if it supports the tokens or fiat currencies you want or hold. The reason for that is not that all decentralized exchanges support all cryptocurrencies.
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