Best DeFi exchanges: The 5 best Decentralized Exchanges!

Decentralized finance, or DeFi for short, has truly revolutionized the way users exchange cryptocurrency tokens. This is mainly due to the fact that decentralized exchanges (DEXs) essentially enable all users to buy as well as sell cryptocurrencies with one another, all without needing brokers. What this means is that all a user really has to do in this case is to simply connect their cryptocurrency wallet to a decentralized exchange, after which they can select the trading pair they require and enter the amount they want. Afterward, just by hitting the swap button, the transfer is imitated.

Top 5 Best DeFi Exchanges Ranking

Here, you will find the five best DeFi exchanges that are worth your time and attention, which will provide you with the best overall experience.

#1 Uniswap

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Uniswap is a decentralized protocol developer for automated liquidity provision within the Ethereum blockchain. Uniswap enables everyone to become a market maker within its network. Additionally, it features a simple user interface that anyone can use, and users can even earn interest on their cryptocurrency holdings through the utilization of the liquidity pools within Uniswap.

#2 SushiSwap

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SushiSwap is essentially this decentralized protocol intended to provide automated liquidity on the Ethereum blockchain. Uniswap is a DEX as well as a decentralized lending market that also enables yield instruments as well as staking derivatives for its users. This DEX was developed as a means of improving over some of the most popular Ethereum dApps. 

#3 1Inch

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1inch is a decentralized exchange (DEX) aggregator and aims to find the best rates as well as the lowest fees in regard to the trades conducted by its users. It has no deposit nor withdrawal fees and, best of all, works with various wallets. Users are given the opportunity to set limit orders, and it offers a wide range of cryptocurrency tokens.

#4 Curve

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Curve is essentially this exchange liquidity pool on the Ethereum blockchain, which is specifically designed for extremely efficient trading of stablecoins. It features a native cryptocurrency token known as the CRV token. Additionally, it is an AMM protocol used to swap stable coins at a cheaper rate and slippage.

#5 Balancer

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Balancer is a non-custodial automated portfolio manager as well as a trading platform. It features Balancer pools which are composed of up to eight different cryptocurrencies, and their value is determined by the percentages of each token within them; a weight is chosen throughout the pool’s creation process.

What is the best DeFi exchange?

Uniswap is by far one of the best DeFi exchanges out of all the options listed here due to the fact that its automated liquidity pools provide a unique passive income stream to buy and hold investors that utilize the platform, and its high growth rate has showcased that the platform is here to stay for a long time.

What is the best DeFi Exchange for Binance Smart Chain (BSC)?

The best DeFi exchange for the Binance Smart Chain (BSC) is PancakeSwap. It is a DEX that launched on September 20, 2020, and uses permissionless liquidity pools, which are automated and run through the utilization of algorithms. This use of algorithms intended to run the pools makes PancakeSwap an automated market maker or AMM.

Summary

Hopefully, now you know everything you need to know about DeFi exchanges and which option works best for you. Remember to make your selection based on the type of tokens you commonly trade, as well as all the various other features that the DEX in question offers.