Top 3 Decentralized Cryto Exchanges

First of lets start with what is a Decentralized exchange?

Source:-crypto compare
A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process. This system can be achieved by creating proxy tokens (crypto assets that represent a certain fiat or crypto currency) or assets (that can represent shares in a company for example) or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.

This system contrasts with the current centralized model in which users deposit their funds and the exchange issues an IOU that can be freely traded on the platform. When a user asks to withdraw his funds, these are converted back into the cryptocurrency they represent and sent to their owner.

So no let look at the top 3

1.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 172 BTC which I think is decent for a decentralized exchange with 72 cryptocurrencies/crypto assets listed on it.

2- Open Ledger Dex

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 –P5K1qu91RAGxbc2xnH9sKvhCb31ocokr1XEKLmVXfBQFP

The 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.

3- 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 –SBXNBVE5RNAGP73VGAJPB4A7OW3JHRECICCUCPGCXNI24HVGFVUXOPNU

And 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 22 BTC with 6 cryptocurrencies/crypto assets pairs listed on it.