Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Top 3 Decentralized Exchanges to Look Out for in 2022

Cryptocurrency Feb 19, 2022 01:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Top 3 Decentralized Exchanges to Look Out for in 2022

The Decentralized Finance industry is powered by decentralized exchanges that enable peer-to-peer cryptocurrency trading by reducing or eliminating intermediaries’ role in cryptocurrencies trading.

These exchanges support peer-to-peer or P2P trading by leveraging the power of automated smart contracts rather than the conventional trading method.

Here are the top 3 decentralized exchanges to look out for in 2022:

PancakeSwap

PancakeSwap is another decentralized exchange that deserves cryptocurrency lovers’ attention in 2022. Established in 2020 on the Binance Smart Chain, PancakeSwap is one of the exchanges that are dedicated to non-fungible collectibles. This feature comes in handy for NFT lovers who want a reliable platform where they can satisfy their passion for NFTs and invest in the future.

Although it started as a copied version of Uniswap, it has gradually carved a niche for itself as a reliable exchange with more impressive features such as a great suit of produces that include farming, staking, and games in addition to NFTs.

It offers lower transaction costs and high operational speed to give users a great trading platform. Its active community of users has boosted its contract interactions and daily transactions since its establishment.

Security is another feature that boosts this exchange’s ratings among cryptocurrency enthusiasts. It is safe to use and has never recorded any hacking experience. However, it is not immune to impermanent loss in farms and is vulnerable to scams that may result from users not doing due diligence before transacting with other users on the platform.

On PancakeSwap, users are offered a wide range of wallets that include:

  • MathWallet.
  • Trust Wallet.
  • MetaMask.
  • Binance Chain Wallet.
  • TokenPocket.
  • Ciub98.
  • SafePal.

Ravendex

Ravendex is the first non-custodial decentralized exchange built on the Cardano Blockchain. The unique decentralized exchange allows super-fast liquidity and assets transfer between ADA and native Cardano tokens.

Ravendex ranks among the first projects on the Cardano Ecosystem with the innovative idea of crypto asset borrowing and lending through the Alonzo Hard Fork update that allows smart contracts to use a predefined set of rules to deposit assets on a crypto exchange and collect interests in due time.

As a cross-chain exchange, Ravendex serves as a decentralized automated market maker protocol where users can trade and swap trade native Cardano tokens with trust. It is also a native assets lending and borrowing protocol that simplifies asset lending on the Cardano network through its pooled lending and borrowing mechanism, giving users access to pool assets they can use for other De-Fi applications.

The first non-custodial DEX on the Cardano Ecosystem is powered by its $RAVE token that has a total supply of one billion.

Uniswap

Uniswap is a leading decentralized cryptocurrency trading protocol that allows users to swap, earn, and build on its platform.

The platform’s primary goal is to make joining the decentralized Finance movement a lot easier by lowering the entry barrier to financial markets. It also intends to open its door wide for whoever plans to create their liquidity pools as evidenced by the over 6,000 liquidity pools and 400 active trading pairs on the exchange.

The platform’s users can trade a wide range of Ethereum-compatible or ERC-20 assets. They won’t struggle with trading these assets because Uniswap offers a user-friendly and easy-to-use interface where connecting with a crypto wallet, depositing crypto in a liquidity pool and swapping one digital asset for another is hassle-free.

As a decentralized exchange, Uniswap operates liquidity pools where users can stake cryptocurrencies and become liquidity providers. On each trade, the exchange charges a fee it distributes among its liquidity providers.

Every cryptocurrency investor or trader should look out for these three tier-one exchanges this year and beyond for a better crypto investing and trading experience.

Disclaimer: CoinQuora does not endorse any content or product on its page. While we aim to provide you with all relevant information that we could obtain, readers are encouraged to do their own research before taking any actions and bear full responsibility for their decisions. Please note that this article does not constitute investment advice.

Continue reading on CoinQuora

Top 3 Decentralized Exchanges to Look Out for in 2022
 

Related Articles

Cryptoverse: Electric ether leaps on verge of Merge
Cryptoverse: Electric ether leaps on verge of Merge By Reuters - Aug 16, 2022

By Medha Singh and Lisa Pauline Mattackal (Reuters) - It looks like ethereum's mega-upgrade is happening. Finally. After years of delays, the "Merge" seems all but certain to...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email