You probably know that the need for decentralization was one of the main reasons why crypto came to be in the first place. Well, the unsung heroes of crypto adoption are DEXs.
Through them, you can buy and sell crypto, without having an intermediary authority controlling your funds.
Not only are you the owner but all of your transactions will be anonymous and safe. After all, this is what we all want, right?
If you wish to find out more about how this works, we have a special video for you explaining what AMMs are and what their role is.
But today we’ll talk about the five most important DEXs and we’ll let you decide which one is the fittest for you and your needs.
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The main topics of the video are:
Starting with the fifth place let’s talk about the Balancer protocol which allows you to add liquidity to pools while also earning a certain interest rate from trading commissions.
Whether or not sushi is your cup of tea, you’ll certainly find the Sushiswap platform to be an interesting one.
This is a fork of the famous Uniswap DEX and allows you to swap assets fast and safely.
It is just me craving pancakes right now? Must be because we’re gonna talk about Pancake Swap.
This is the most popular DEX built on the Binance Smart Chain. It has an attractive design, it’s easy, cute and fun to use and perfect for users that are less experienced.
The decentralized crypto industry was completely revolutionized in 2018 by the following DEX, which incidentally, is also the most popular one: Uniswap.
Uniswap was among the first ones to allow the swap of ERC-20 tokens without an order book which made it popular from the get-go.
Finally, the top spot in this ranking goes towards Curve, an innovative protocol created specifically for swapping between stablecoins with extra small fees.
So if you ever need to swap USDC for DAI, Curve is the place to do that. It stands out among DEXs by hosting liquidity pools made up of stablecoins or other wrapped coins like Wrapped Bitcoin.
– CHAPTERS –
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👉 How to use Binance / Tutorial for Beginners
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