Decentralized exchanges are the best alternative to the centralized exchanges as they cut out the middleman. These types of exchanges work as peer-to-peer exchanges. Assets are never held by an escrow service, and transactions are done entirely based on smart contracts and atomic swaps.
The main difference between centralized and decentralized exchanges is whether or not a middleman is present. Decentralized exchanges are less popular if you compared them to centralized exchanges. However, there are some decentralized exchanges that are gaining more popularity lately and believed to change the way of how crypto exchanges should operate in the near future.
Following are the top cryptocurrency decentralized exchanges reviews:
| Exchange Review | Rating |
|---|---|
| Nash Review | 4.9 / 5 |
| Switcheo Review | 4.8 / 5 |
| ShapeShift Review | 4.8 / 5 |
| Binance DEX Review | 4.6 / 5 |
| IDEX Review | 4.5 / 5 |
Nash Review
Nash is a fintech company that offers different products like the Nash Exchange, Funds management, Nash pay, and Nash mobile. The main mission of the company is to create capital freedom, that’s why they focus on providing genuine borderless finance and a secure self-custody.
Features:
- Nash Exchange is a non-custodial exchange which means you are in full control of your funds.
- Its system allows for cross-chain non-custodial trading between Bitcoin, Ethereum, and NEO blockchain.
- Nash Exchange offers a profit share program through its security token NEX which allows users to earn dividends from staking NEX in a smart contract that pays out a proportion of the exchange revenue.
- Nash Exchange combines the security benefits of blockchain with the speed and functionality of traditional financial services.
- Nash Exchange is the first non-custodial exchange to offer fiat ramps to purchase digital assets directly from Nash at a 0% fee through the web platform and mobile app.
- Nash Exchange interface is ideal for both beginners and advanced users.
- It’s is compatible with Web, Android, and iOS clients.
- Nash has a support ticket system, live chat support, and a community forum.
Go to nash.io
Switcheo Review
Switcheo is the first decentralized cryptocurrency exchange on the NEO blockchain allows cross-chain swapping and trading of NEO, Ethereum and EOS tokens. It offers a way to easily and quickly trade cryptocurrencies through its DEX platform without compromising efficiency and security.
Features:
- Switcheo exchange is integrated with multiple blockchains and recognised for its platform security, ease of use and fast trade executions.
- Switcheo exchange is compliant with the highest security standards which makes you in full control of your funds.
- Switcheo has a competitive fees structure starts from 0.20% per trade, regardless of whether you are the taker or the maker.
- You can connect your hardware wallet like Ledger Nano X or Trezor Model T to unlock your wallet on Switcheo.
- Switcheo provides 24/7 support.
Go to switcheo.exchange
ShapeShift Review
ShapeShift was founded in 2013 by Erik Voorhees and it’s based in Switzerland. Shapeshift is an instant cryptocurrency exchange that offers an easy way to swap cryptocurrencies. The user interface is very simple to navigate as it allows users to easily convert different cryptocurrencies with each other.
Features:
- ShapeShift is a non-custodial exchange, which means they don’t hold your deposits and you are in control of your funds.
- KeepKey hardware wallet integration that allows users to exchange their coins directly from the wallet using the ShapeShift Exchange.
- The exchange rates are updated in real-time with no additional fees.
- It provides an API for more useful features.
- ShapeShift provides 24/7 support.
Go to shapeshift.com
Binance DEX Review
Binance DEX is a decentralized exchange developed on top of Binance chain, with low latency, high throughput, low fees and a user interface similar to the current centralized exchanges.
Features:
- Binance DEX gives you more options and the flexibility to trade a wide range of cryptocurrencies across its decentralized exchange.
- Binance DEX utilizes a web-based trading platform and uses a similar user interface to binance.com crypto exchange.
- Binance DEX has a competitive fees structure with 0.04% only when you use BNB to pay for trading fees.
- You can connect your hardware wallet like Ledger Nano X or Trezor Model T to unlock your wallet on Switcheo.
Go to binance.org
IDEX Review
IDEX is a decentralized exchange based on Ethereum. IDEX is part of the Aurora project which is a collection of Ethereum applications and protocols that make up a decentralized banking and finance platform.
Features:
- IDEX is a non-custodial exchange that allows users to trade with one another without giving up control to a third-party custodian.
- It supports limit and market orders, gas-free cancels, and the ability to fill many trades at once.
- You can connect your hardware wallet such as Ledger Nano X to unlock your wallet on IDEX.
- IDEX provides 24/7 support.
Go to idex.market
