decentralized exchange (Dex) cryptocurrency: what to look for
The cryptocurrency world has been significantly reorganized in recent years with the emergence of a decentralized exchange (DEX). Dex is an online platform that allows consumers to exchange cryptocurrencies without intermediaries such as brokers or exchange. In this article, we will dive into the functions you should look for when looking for a reliable and safe dex.
What is a decentralized exchange?
The decentralized exchange is an online platform that allows consumers to buy, sell and exchange cryptocurrencies, not counting central government such as a scholarship or broker. This means that there are no intermediaries in the operation process that causes faster execution time, lower costs and higher transparency.
Basic Dex characteristics
When choosing a Dex trade in cryptocurrencies, look for the following basic features:
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- Liquidity : High liquidity level is very important for any cryptocurrency exchange. Look for exchanges with high market capitalization (at least $ 1 billion) and many trade couples to make sure you can easily buy and sell your favorite cryptocurrencies.
- User Interface
: A friendly user interface is necessary to easily browse and execute. Choose an exchange with a modern and intuitive design that provides clear instructions on how to use a platform.
- Order Flow : Order flow indicates the direction that is executed by which orders are executed. For a quick execution time, look for an exchange with a strong command book and a high fill rate (percentage of controlled orders).
- Trade Costs : DEX can be increased, especially if you change frequently. Know all the costs issued by the stock market accounts, including decreasing costs, library differences, and commission costs for companies carried out in a couple.
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Types dex
There are several DEX types for cryptocurrency trading, each with its own unique properties:
- Centralized Exchange (CEX) : CEX means central government that controls the stock exchange and performs operations on behalf of consumer. This can lead to higher costs and slower execution time.
- Decentralized Exchange (DEX) : DEX, as mentioned above, is an online platform that allows you to trade directly among consumers without intermediaries.
Popular Dex platform
Certain popular decentralized exchange for cryptocurrency trade is :::
- UNISWAP : Widely used decentralized exchange known for its simplicity and scale.
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- Curve
: Centralized Exchange, offering a wide range of sales couples, low cost and fast execution time.
Conclusion
When looking for a reliable and safe decentralized exchange (DEX) for cryptocurrency trading, be sure to look for features such as high liquidity, strong safety measures, easy consumer interfaces and competitive negotiations. Based on the types of available and popular Dex platforms, you can make a reasoned decision by choosing a platform that meets your specific needs.
Recommendations
If you are a new decentralized exchange, consider the following recommendations:
* UNISWAP : A great choice for those who want simplicity and scales.