Top Decentralized Exchanges (DEXs) by Trading Volume
A decentralized exchange (DEX) is a cryptocurrency exchange that operates in a decentralized way, without a central authority. DEXs are designed to remove the requirement for any authority to oversee and authorize trades performed in their platrom. Decentralized exchanges allow peer-to-peer (P2P) trading of cryptocurrencies. In this case, a Peer-to-Peer transaction refers to a marketplace that links buyers and sellers of cryptocurrencies.
There are hundreds of crypto decentralized exchanges that provide a good service for clients. Which one is the best? Here is the list of DEXs ranked by trading volume.
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| Exchange | Volume | Coin | Fees | Cyber Security Score | Established | |
|---|---|---|---|---|---|---|
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$948,784,115
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2021
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$228,008,015
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$74,400,222
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$52,132,615
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2020
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$51,569,565
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$24,058,336
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0.30%
0.30%
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2019
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$18,711,357
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$15,890,492
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0.01-1%
0.01-1%
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2023
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$11,206,930
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$10,997,848
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$3,380,306
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What are the considerations for choosing a Crypto Exchange for stablecoins?
Generally, you can choose by using the following methods:
- Pick an exchange that offers the stablecoin you want. This is the option you should take if you already have a preference for which stablecoin you'd like to buy.
- If you're already registered in a crypto exchange and you're okay with whichever stablecoin they provide, you can simply take a look at the list of stablecoins and research them. It is worth noting that some of the large crypto exchanges even have stablecoins that you could use, such as USD Coin by Coinbase, the Gemini Dollar by Gemini, and Binance USD by Binance.
Continue Reading at How to Avoid Stablecoin Risks
How to identify a secure crypto exchange?
When it comes to security, there are several things that you could focus on, such as:
- HTTPS: Every secure exchange must have a valid HTTPS certificate This shows that the site is safe, and they won't be able to collect or change your data without your permission.
- Two-Factor Authentication (2FA): Most exchanges offer a variety of 2FA methods, such as software, SMS, and hardware devices. The most common option is to use Google Authenticator.
- Strong Password: You might be asked to fulfill certain criteria, such as a mix of regular and capital letters, numbers, symbols, etc.
- Funds Insurance: This is certainly a great safety net for traders, but please note that such policies do not protect individual accounts and only apply to the exchange as a whole.
- Cold Storage: Funds that are stored in cold storage are much more difficult to steal compared to those that are kept in a hot wallet.
- Ability to Whitelist IP and withdrawal Addresses: This enables blocking suspicious logins from other locations.
- Extra measures: Exchanges can offer many other security measures, such as multi-signatures, suspicious behavior notifications, phishing protection, and more.
Continue Reading at Don't Leave Your Money in Crypto Exchanges, Here's Why
What types of loans do crypto exchanges offer?
There are two types of loans offered by crypto exchanges:
-
Fixed lending requires investors to secure their money for a specific period (usually seven to nine days) to get a fixed amount of rate. The advantage is that this method typically offers a higher rate of interest.
- Flexible lending that is very similar to a savings account. This method allows you to withdraw your assets at any time, so the rate of return is usually lower.
Continue Reading at APY and APR in Crypto Investments Explained
What are the risks of credit card transactions on crypto exchanges?
We have mentioned that not all crypto exchanges are safe for credit card transactions. Some may look to exploit their users and run away with their money. Not to mention that your credit card information is also at risk.
While credit cards typically have strong fraud protection compared to other card types, every cardholder must still be aware and able to spot scams. Even at a trusted exchange like Binance, users must complete their due diligence before making any transactions with credit cards.
Continue Reading at The Complete Guide to Buy Crypto with Credit Cards on Binance
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