Which are the Top 5 Decentralized Cryptocurrency Exchanges?

If you are afraid of being stripped of your crypto on centralized exchanges, then you should consider decentralized cryptocurrency exchanges. Although centralized cryptocurrency exchanges are not bad, they are not the best when it comes to safety. If you have tried centralized crypto exchanges in the past and looking to move forward, you should consider decentralized cryptocurrency exchanges.

decentralized cryptocurrency exchange, DEX

Decentralized exchanges also known as DEX makes it easy to trade peer-to-peer without the need to ever entrust your digital assets to any third party service. As we have seen from time to time over the past years, third-party services can be hacked into or implode into oblivion, causing users to lose their assets. So decentralized exchanges promised to eliminate middlemen services thanks to automation. Here are the top 5 decentralized cryptocurrency exchanges you can use now.

Ox

Ox offers a decentralized cryptocurrency exchange using Ethereum smart contracts that give people around the world the chance to run a decentralized exchange. The creators of Ox believe users can find thousands of Ethereum tokens in the future and Ox will be available to provide trustworthy and efficient exchange service to the users. Ox provides the combination of decentralized and centralized features to users.

Amir Bandeali and Will Warren are the co-founders of Ox. Both of them have experience in smart contract development because they were both involved in smart contract research. With a diverse range of interests, this project is being funded by companies ranging from Pantera, Fintech Blockchain Group, Jen Advisors, Polychain Capital to Blockchain Capital.

The goal of the Ox developers is to create a world where every asset presentation is part of Ethereum blockchain. The included assets are the digital items, fiat currencies, stock and gold. With several tokenizations, there’s going to be thousands of tokens requiring a trustless exchange for the platform’s users. With Ox, the inefficiencies of decentralized cryptocurrency exchanges can be solved.

AirSwap

Airswap is another token exchange built to support Ethereum. It is a decentralized cryptocurrency exchange designed with security and privacy in mind. Airswap goal is to provide global users peer-to-peer trading opportunity without having to pay any trading fees, which means intermediaries have been eliminated.

The Airswap is a company based in Hong Kong and it is partnering with Michael Novogratz, the former Fortress hedge fund manager. The company claims to put huge emphasis on security, privacy and transparency more than any other decentralized exchanges.

Private: Airswap believes in the value offered by peer-to-peer transfer technology and the company is developing the globally accessible network to support private and secure exchange.

Secure: You can protect your asset with decentralized exchange because centralized exchanges are subject to attack. With Airswap, you are in control of your assets. You can hold your coins at Airswap and still enjoy the benefits that come with the exchange.

Essentially, AirSwap is offering a reliable alternative to the traditional crypto exchanges using the protocol based on Ethereum. The company provides a lot of benefits, so it is among the top decentralized exchangers.

Omisego

Omisego is a decentralized company based on Ethereum financial technology. It is created as a financial technology for mainstream digital wallets. Omisego allows real-time peer-to-peer payments and exchanges and promises to work across organizational and jurisdiction silos, as well as across decentralized currencies and fiat money. In simple term, Omisego aims to make sending and receiving payments cheaper.

Omisego Company is out to disrupt the existing financial institutions and makes financial transactions more efficient to allow the best currencies to get to the top via a perfect competition. Omisego has two important products in its ecosystem which includes the wallet and the blockchain. Using the platform, you will be provided with the next generation value transfer service operating across several asset types and currencies.

With Omisego network, anyone will be able to conduct financial transactions like remittances, payments, B2B commerce, loyalty programs, supply-chain finance, payroll deposit, trading, asset management and other on-demand services. With this platform, it will be easy for millions of users to participate in the crypto world. It will also be easy to switch between fiat money and decentralized currencies such as BTC, ETH and others.

Radar Relay

The best way to become a good investor is to know the best investments tools that can help you to become a great investor. Radar Relay is a cryptocurrency software that will allow you to trade ERC20 tokens through online crypto exchanges. Now, you can trade ERC20 token from Web3 of Hardware wallet without any middlemen company.

The company that developed Radar is a Colorado, US based company and has already partnered with companies like Batship Crazy Ventures, Digital Currency Group, Blockchain Capital, Sparkland, Reciprocal Ventures and Kindred Ventures.

The idea behind Radar Relay is to transform users into the cryptocurrency exchange because exchanges are vital to the market. The company is also eliminating middlemen from financial transactions so that users can secure their assets.

With Radar Relay, you can easily send the order to the market. The company will not move your asset; it is you who can move it via smart contracts. The company’s job is to get the people whose order matches your order to help you transact with other investors. Radar Relay will ensure your asset is always in your wallet, unlike some other crypto exchanges. So whether the system is down or not, your money will still be there. You will also be able to access API of this program, which means you can use it to trade bots or integrate your dapp into the program.

Bisq

Bisq popularly known as Bitsquare is a decentralized peer-to-peer platform for cryptocurrencies. It is fully decentralized to the extent that it requires no email ID, name or verification. To ensure the platform is a fully anonymous peer-to-peer platform, it uses Tor and does not hold cryptocurrencies or fiat on its server or account. Every aspect of exchange on this platform is fully decentralized from order placement, to order matching, to execution. The platform is currently supporting about 126 cryptocurrencies and it is available on Linux platforms, Mac and Windows.

14 Comments

  • Jo J. May 2018 - Reply

    A handy list for those wanting to explore the different options out there. What I’m noticing here is that many of these companies’ value privacy as do many customers who participate in this sort of exchange. So, I’d say they’re off to a great start.

  • Naomi May 2018 - Reply

    Well, seeing as there are more and more services being hacked and many Bitcoins lost, I think it’s time to try out a decentralized cryptocurrency exchange. I want to do everything in my power to avoid being hacked. Thanks for the suggestions.

  • Jackson Chambers May 2018 - Reply

    I feel there are so many crytocurrency exchanges. I haven’t even heard of these and I follow this industry pretty closely. I agree that a decentralized exchange may be safer than some of the centralized ones. Thanks for sharing.

  • Evan June 2018 - Reply

    A friend recently got hacked and this scared me so bad. I couldn’t believe this happened and now I have started using the Ox decentralized cryptocurrency exchange. I feel safer now and I hope nothing bad happens.

  • Pearl Joy June 2018 - Reply

    I am reading more about Ox and starting to like the features that it offers. There is little doubt in my mind that of these cryptocurrency exchanges are not the same, but we’ll see which one wants to stand out around the rest.

  • Kyle Taylor June 2018 - Reply

    When you read about china trying to move to this type of cryptocurrency exchange and they want the entire country to adapt it, then you have to stand back and realize how big of a change this is for the banking world.

  • Ben Amstutz July 2018 - Reply

    Thank you for all of these options. I have been looking in to switching to a decentralized exchange and didn’t know where to start.

  • Josh Sprunger July 2018 - Reply

    These are all great options! I think I am going to make the switch to Ox just to be safe with my exchanges. Thank you!

  • Ethan Martinez July 2018 - Reply

    Thanks for sharing this list. I’ve been looking for some decentralized cryptocurrency exchanges for awhile. I’ll be looking more into Omisego.

  • Oliver Williams July 2018 - Reply

    I keep reading about security vulunerabilities with other exchanges. These decentralized alternatives look like a good choice for those particularly concerned about their investments.

  • Braiden Case August 2018 - Reply

    I’ll have to try one of these decentralized exchanges to improve privacy and security. I’m overly security concious and want to be sure everything on that front is taken care of.

  • Liyah Connor August 2018 - Reply

    We always talk about decentralization. What are some of the more centralized exchanges and why would somebody prefer those over something more decentralized? Sorry, new girl here trying to make sense of it all.

  • Suzanne September 2018 - Reply

    These are all great options! I’ve heard a little bit about all of them for the past few months and I really like where they are going.

  • Lee September 2018 - Reply

    Bisq seems great! I’ve heard lots of good things from it ever since they began!

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