DEXs (also known as “Decentralized Exchanges”) have provided crypto users with a much more comfortable way of making direct transactions. Overall, the primary goal of cryptocurrencies is to make transactions between users easier and without the involvement of any third party. Keep in mind that a DEX works a bit differently than a regular exchange website. In a DEX, for instance, you can only trade a crypto token for another crypto token. In essence, a DEX involves a wide set of smart contracts which are set directly on the blockchain network, making them much more reliable than other platforms, in some cases. If you’re looking for a reliable DEX, you may be wondering which platform will be the best one for you. In the end, it’s a matter of going over several options and choosing the one that best suits your needs. Still, we’ll go over some of the best platforms you can go to today.

What Are the Benefits of Trading with a DEX?

One of the primary benefits of using these platforms is that you can find a wide range of crypto tokens to trade. Most of these platforms work with both popular and less-known tokens. Remember that -virtually- anyone can mint a token and create a liquidity pool, meaning there will be thousands of tokens to discover.

Moreover, considering that DEX transactions don’t involve a third party, these are, theoretically, much safer than working with other platforms. Overall, you’re making direct wallet-to-wallet transactions, so the chances of getting hacked will be significantly lower.

Finally, the most vital feature that makes DEXs so popular is that they promote anonymity, which is something many traders look for. In essence, you don’t need to provide any personal information to use most DEXs, so you will be good to go if you don’t feel comfortable finding someone to trade your tokens with. As long as you have an active internet connection and a crypto wallet, you can trade on these platforms.

However, keep in mind that using a DEX involves having more crypto knowledge. If you have never worked with these platforms before, we highly suggest you take your time to learn how they work. The slightest mistake could make you trade with unreliable tokens, make bad trading decisions, and more.

What Is the Best DEX You Can Use Today?

Now that you know the basics of DEXs, it’s time to go over what the best ones on the market are. Keep in mind that most of these work similarly, but each of these platforms has a particular set of features that make them stand out from each other.

Once you read the entire list, you can choose a platform that feels comfortable for you:

Our Top Pick – Hector DEX

This is a cross-chain Aggregator that works within the Hector Finance ecosystem. Overall, this platform aims to turn Hector into a reliable center working on the Fantom Opera Chain. However, it also works with several other chains, including:

  • Avalanche
  • Binance
  • Ethereum
  • Moonriver
  • Polygon

The dashboard is similar to some other popular aggregators on the market. Once you’re there, you can check the general dashboard for information on your trades, as well as connect your wallet and trade any tokens you feel comfortable with.

Moreover, the Swapping and Bridging will get handled by the platform in the background. All you have to do is wait for the platform to find appropriate exchange rates for you, and once you approve them, you can simply click on the “Swap” button.

Overall, Hector is easily becoming one of the most reliable DEXs to use. If you’re interested in finding reliable exchange rates, you may consider using this one.

Runner Ups

PancakeSwap

This platform allows users to swap tokens on the Binance Smart Chain. Overall, you can swap BEP20 tokens with the platform’s automated market maker, making it a rather interesting option for those who want to avoid paying too many fees.

1inch Liquidity Protocol

The following platform works with the Ethereum and Binance Smart Chain, and it’s one of the options that provide the best rates for exchanges. In case you work with these chains, you may find this option worth considering.

Uniswap

It uses an automated market maker based on the Ethereum blockchain protocol. Currently, this is one of the largest DEXs regarding volume, so it’s a reliable option.

Bottom Line

Finding the right DEX to work with may seem a bit complicated, but once you know what you’re looking for, the process will become much easier. We hope this guide has helped you choose a reliable platform!

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