Top 7 Decentralized Crypto Exchanges you need now!
. We all know that china has banned bitcoin about a million and two times, but this time it is a little bit different because not only have they banned bitcoin bitcoin mining, but all cryptocurrency transactions. So the people of china are not allowed to use crypto in any way shape or form. In the united states we have the united states government, the sec cracking down on centralized crypto passive income opportunities like earning four to eight percent on your stable coins, which is kind of crazy. They said no to coinbase theyre coming after celsius and they went after block five recently and the united states and the irs also came out and said any transaction that has done electronically over 600 must be reported to the irs, and you do have to pay taxes On on this, this includes, when youre, utilizing, zell cash up, etc. Prior to this law, you would have to pay taxes on a transaction that i believe was above 10 or 20 000 or maybe over the entire year. But now lets say you want to go ahead and send your mom some money, help her pay, her rent mortgage bills, etc. If that transaction is over 600, she has to claim it and she has to pay taxes on it, which is absolutely insane especially a time like this. The fact that were still in this panorama and the united states still fully hasnt recovered either way. Babes lets go ahead, talk about the top crypto decentralized exchanges Music.
Before we go ahead and talk about the top crypto decentralized exchanges lets talk about what a dex or a decentralized exchange is so a decentralized exchange allows the user to go ahead and utilize. The exchange without having to do kyc, you simply put in your metamask or your phantom wallet, and what that allows you to do is retain custody of your keys and decide how much of that cryptocurrency you want to go ahead and swap trade farm, etc. Yes, there are risks associated with it because it is defy so it is always very important. You make sure youre on the correct website, etc, but they are actually very very game. Changing one thing i will say is always use a vpn, no matter what, and i also recommend you utilize from a trading laptop or desktop, or a mobile cell phone. That is not directly related to you. Never use the same electronic device that you do a lot of your personal stuff on just in case. You always want to practice. Safe opsec lets go ahead. Look at it also too utilize coin gecko for all things defy. They have a defy tab here. It lists all of these tokens that were going to be touching on, and it also gives some very, very important. Statistics regarding tvl, which is total value. Locked and theyve got an area for default coins and an area for decentralized exchanges which is going to go ahead and list a lot of the top exchanges here.
But for purposes of this video i went ahead and took some pics that i, like myself, the first decentralized exchange were going to speak on is dydx because theyve been in the headlines a lot lately and they have a lot of very cool products. However, please be advised they are not 100 decentralized, so be careful. What product you decide to use, they offer perpetuals and they offer margin with perpetuals. It is instant trading on layer, 2 powered software by starkware and margin is spot and margin on layer 1 of ethereum lets take a look at their margin. This is the platform for the margin. They also offer spot perpetuals. They have a portfolio aspect, markets borrow and more as far as markets go. They have quite a few different pairs that you can go ahead and trade and utilize, which is really really nice, and i like the fact that it looks like a regular exchange. You simply just need to connect your wallet and you can get started and begin trading. Lastly, before we head over to pick, two dydx has its own native token, that is currently number 22 on coin gecko. Under their defy token list, the next decentralized exchange were going to look at is going to be radem, and this is going to be for solana based projects. They offer trading swapping and you can go ahead and swap any of your solana based projects here on raydom. They offer a liquidity, pool different, diverse types of other liquidity pools.
You can go ahead and participate in raiden pools and permissionless pools. Farming staking their native token rey, which is currently number 31 on coin. Gecko theyve got their accelerator, so their accelerator is a launch pad for new projects to raise capital for the community to participate in any new solana project launches, so theres going to be a bunch of different picks over here. If you are interested in participating in any of this stuff, please understand there is always risk associated and play the market. Safe radem also has a drop zone for different nft projects based on solana, and they also allow you to my great, which is immensely important. All you have to do is go ahead and connect, and when youre connecting i highly recommend phantom phantom is absolutely outstanding and you can even stake inside the phantom wallet, which is a simple google browser extension. And i have a tutorial on how to use that as well. Our next platform is going to be serum, however, with serum it is not available to everybody and the reason. Why is theres laws and regulations that could not allow you to trade here, however, if youre in the correct area, this is a great platform to use. They also have a native token srm, which is currently number 20 on coin gecko. The next decentralized exchange is sushi swap and theyve been around since approximately summer of 2020.. They allow you to swap, they have limit order capabilities and they have liquidity over here.
They also have different pools, youre allowed to migrate and youd. All you would need to do is you would migrate your uniswap liquidity here, farming, which they have a nice amount of different types of farms that you can go ahead and farm lending. You can go ahead and lend different assets out and earn yield with no and permanent loss, which is probably the most important aspect. They have a borrowing page here staking which you can go ahead and stake their native token, sushi or x, sushi and miso. Miso is going to be for nfts. The sushi token is currently number 14 on coin gecko all right folks. The next platform is pancake swap and pancake swap has been around for a while pancake swap allows you to convert erc20 to bep. 20. be20 is for binance. Smart chain, the reason why bep 20 binance smart chain is very ideal is because of the low transaction fees compared to ethereum. Pancake swap allows you to exchange and also allows you to play around with liquidity and earn some passive income, and you can go ahead and swap over here or trade. However, you see fit, you can earn passive income via farms and pools. They have a win tab here that allows you to play a prediction based game and they also have a lottery and they do have nfts as well. Pancake swap does have a native token cake, and it is currently at number eight.
On coin gecko again with these native tokens, youre allowed to go ahead. Stake farm loan borrow et cetera and earn passive income. Another favorite is uniswap, which is for ethereum based projects. You simply connect to metamask and get started. They offer swapping theyve got a pool, they have voting for governance and they have a tab over here for charting. One inch is also around as well, but weve talked about one inch before on the platform, and i wanted to go ahead and showcase you guys. A uni swap just in case you forgot. Uniswap is currently number two on coin gecko. The last platform were going to take a look at or decentralize exchange is going to be pangolion and the reason why is it allows you to do different types of bridging and trading within the avalanche ecosystem? We can utilize avax directly on the platform and you would need to go ahead and connect to a wallet. I havent explored too much into the avalanche ecosystem, but i did want to go ahead and drop this here, because i think it was important to try to include as many different chains as possible. You can go ahead and swap very easily on this page here. However, if you do want to buy cryptocurrency on the pangolin exchange decentralized exchange, you are required to use wirex and they are asking your first and last name, email and some other information. This is not necessarily decentralized, but this is currently what is available on the market.
They have a sector for pools and you can be a liquidity provider and earn rewards over. Here is going to be the farming aspect for pangolin, so you can go ahead and earn some passive income, but please be advised anytime youre, depositing anything try to use a moon bag. If you would like to stake, you can go ahead and do so on this page. They offer voting via dao and they also have an area for charts and a forum and their native token is going to be pangolin, p and g. Thank you guys. So much for watching, i hope you enjoyed this video. I understand i wasnt able to get in every single deck. So if you have a request, i will create another episode and include some more dexes.