If you are a crypto traders then you definitely should be using centerlized crypto exchanges like Binance, Bitfinex etc.. For the majority of people (DEX) decentralized exchanges are not their first choice. As of now 2022 is coming to its an end, The world is continue to move to decentralisation. In decentralized exchange no one can control the server and the data is distributed on nodes.
Centeralized vs Decentralized
There is a major difference in centralised and decentralised exchange is, Centralised exchanges are govern and controlled by central authority. Authority can be a person or corporation. Who controls and modify the business on its own. In centralized exchanges you have to follow the rules and guidelines before trading. Exchange can ask for kyc and your income source etc..
Decentralized exchanges are not govern by a single person. In Decentralized exchanges, Exchange works as a custodian and entirely perform peer-to-peer and controls by software and users. In Decentralised exchange you don’t have to worry about traditional exchanges policies like kyc, Address and income etc.. Simply connect your wallet to exchange and start trading.
Top Decentralized Exchanges
Uniswap is a cryptocurrency exchange use DEX network protocol operating on the ethereum blockchain. Uniswap allow users to trade crypto without submitting kyc.
MDEX is another Dex Exchange based on (AMM) Automated Market maker for multi chain transaction. Users can trade peer-to-peer on blockchain.
SushiSwap build on Ethereum blockchain network. SushiSwap forked from Uniswap. SushiSwap used to leverage Smart contracts to provide liquidity pools, In this way traders directly trade crypto assets with each others.
BurgerSwap is another (DEX) Decentralized exchange that is based on (BSC) Binance Smart Chain. BurgerSwap works on (AMM) Automated Market makers.
PancakeSwap is a (DeFi) Decentralized finance blockchain app. From pancakeswap users can swap tokens without go through AML KYC. PancakeSwap also provides opportunity to earn crypto on (BSC) Binance smart chain.