Decentralized сryptocurrency-min

Decentralized сryptocurrency exchanges: evolution rocks

Hate exes? Not all of them are bad. If you’re looking for decentralized сryptocurrency exchanges (DEXes for short), let us congratulate you on a job well done. You’ve completed the first, most important, step. You’re here. And now you’re part of the future. 

What are decentralized cryptocurrency exchanges and how do they work?

Next to a HALO jump, banana and chocolate sandwich, and crypto, decentralized exchanges take a definitive leadership position on our leaderboard board. And there’s a good reason why. Dexes are a powerful new phenomenon, which is proven by statistics and gleeful reviews from experts like Andreas Antonopoulos. With $2.4 billion in volume last year, these cool new cats look like they could be here to stay. But how did they become so popular so fast? Which mechanisms do they use that no-one else does?

Cryptocurrency has long been many things in one: a way to make money, get tearfully excited about new tech, sponsor your secret fantasies — but more than anything else historically crypto has been a way for people to avoid government tracking. The ugly truth today, especially, AHEM, in some countries, you can get arrested and go to prison for years for a completely made up reason. If you actually hold crypto, which is an offense in some geographical areas, you’re asking for trouble. Hark! Is that the execution squad we hear going up the steps?

Ok, so things are not actually that bad (although still true) but the current government-people relationoship, which John McAffee calls “a horrible perversion of democracy”, is bad.

Private data

If you think about it, why should you give up any of your private data to anyone? Facebook regularly seels user data pretty much since its inception, exchange owners will keep your cash safe for you, don’t worry (you don’t even know these people!) — and don’t even get us started on the government. 

The banks, corporations, and the government are certainly not giving up their details to you. And the government represents people! Imagine if you hired a manager to use your money effectively and the first thing they did was remove your access to the logs of what they’re doing. A little suspicious, right? It’s the same with authorities sniffing out  your private details. If you give up your data, you will give up your freedom, and without freedom you have nothing. 

Decentralized cryptocurrency exchanges: a comprehensive overview

Decentralized exchanges allow you to completely remove third parties from transactions by using smart contracts that execute code themselves. That means barrels and barrels of awesomeness. 

No third party risk, no dumb human factor involved, no CEO will be stalked so that your money can be extracted from them, no single point of failure, no bothersome waiting… Decentralized exchanges have their problems but they provide a massive row of advantages that outweigh the problems by an order of magnitude. 

“Without Decentralized Exchanges, the peoples’ ability to invest in crypto is subject to governments, so cryptocurrency becomes hardly more democratic than traditional asset markets. Governments can exert control over centralized exchanges, and users are subject to authorities who may at any moment track and tax users, or ban currencies.

Other merits of a DEX include heightened security. Massive security attacks, such as the roughly $470 million that was stolen from Mt. Gox, were only possible because the centralized hot wallets of the exchange were targeted, which presented a single point of failure. In a DEX, each user is in private control of their funds, so there is no central point of attack.”Block geeks

DEXes are a protocol that is so much more secure that it very well could turn out to be the next step in blockchain’s and crypto’s evolution. 

We will provide you with more details on the best features of these bad boys as well as a list of decentralized cryptocurrency exchanges to go to if you’re too impatient to read this through to the end. However, remember! Crypto really shouldn’t  replace banks but compliment them (“whoa, Barclays, you look stunning today”). DEX may be the next big thing — but there are also advantages to centralized exchanges like greater liquidity and volumes. Centralized exchanges may be flawed, but it’s worth sticking with them for a while anyway, just so you have something to fall back on if anything happens. Diversify and always trade responsibly!

So, to sum up.

centralized vs decentralized exchanges

Centralized exchanges 

  1. Have one single point of failure.
  2. Don’t take their security seriously judging by the fact 12 of them, including Binance, have been hacked in 2019, which is an all-time high.
  3. May very likely up and disappear with your money.
  4. Are among one of the worst ways of storing your money thanks to phishing attacks and keyloggers getting installed on your PC that could get your password and gain access to all your funds.
  5. Exceptionally weak protection like text messaging alerts.
  6. Asset manipulation and all manner of sin that always befalls those trusted with large sums of money. 


  1. No single point of failure (finally, instead of completely contradicting blockchain’s every principle someone followed them!).
  2. Governments can’t get their hands on decentralized exchanges and restrict your, well, anything.
  3. No-one controls these. 

There are two types of centralized exchanges: those that have been hacked and those that yet haven’t. — Andreas Antonopoulos

Top safe decentralized cryptocurrency exchanges

Top Safe DEX

If you’ve been following the Bitcoin or crypto scene for a while you know it’s like a beautiful blue ocean with treasures – but sharks are abundant, regulation is scarce, and there are plenty of dangers – like sending your money to a wrong address, in which case it will be lost forever, or getting taken for a ride by either a hacker or an exchange itself. Most ICOs turned out to be scams. If that is how opaque the part of the scene is, what’s happening everywhere else? 

Well, things aren’t great if we’re talking integrity with plenty of bad actors — this is exactly the scene designed to conceal identities. Which DEXes are the best? Or the least worst?

One of the best ways to measure how exchanges are doing is by trading volume. Although that doesn’t guarantee anything, as a rule, more users mean a greater likelihood of safety and fewer chances of bugs in the code. Best decentralized cryptocurrency exchanges probably worth paying attention to these days are:

  • Uniswap;
  • dYdX;
  • Oasis.

Just like crypto is a great plan B in case USD fails, and Mimblewimble is a great plan C if crypto fails, decentralized exchanges are your plan D-day. They are the new TOR to your Internet Explorer, providing record growth when the crypto markets crash. 

However! Before you device headfirst into DEXes like Scrooge McDuck dives into his gold coins*… Consider the dangers. DEXes are a new phenomenon, and with a lack of regulation, they are more or less completely wrapped in darkness. $23 000 000 Bancor hack is also a testament to the fact that not all decentralized exchanges are as decentralized as you might think. One day you wake up and find out your account is empty.  All your base are belong to us. 

Do not place all your eggs in one basket

When you’re investing in new projects, take time to carefully study them. Nominex suggests not placing all your eggs in one basket but instead diversifying funds between different exchanges and different coins. 

It may very well be that DEXes will be the next phase of the ecosystem evolution but as DEXes are making waves give the water a little bit of time to settle and meanwhile keep some funds in centralized exchanges. And on a hardware wallet. And in cash. And in gold. 

Ford Mustang may have been made in 1964 but it’ll still kick some modern car’s asses in many respects. What does Nominex have that DEXes don’t? 

  1. Ecstatic reviews.
  2. No scam detected by the whole of the Internet.
  3. A declared list of owners and detailed info on them on social network.
  4. Licensed and regulated but no strict enforcement of KYC.
  5. Immediate and painless registration.
  6. Seductive UI.
  7. Mastodon passive income: check out the referral program.
  8. Tournaments allow you to make real money with no starting capital.
  9. Multiple bonuses.
  10. Lowest fees and massive discounts.

A plethora of other features you can check out for yourself. 

We love you so we’ll let you go (if you really must) but we’re telling you, if you go, you’ll miss us! Like we miss you.

*that would have been excruciatingly painful in the real world!


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