The best non-custodial exchanges to swap crypto anonymously
To date, the number of existing cryptocurrencies has already exceeded 25 thousand items. They differ in price, popularity, practical application and other characteristics. That is why it often becomes necessary to exchange cryptocurrencies.
The exchange of XMR to ETH is essentially no different from exchange operations with fiat currencies. You give XMR, and get another coin, ETH in the equivalent at the current rate. What is it for?
- Get profit. Agree, there is hardly a person who does not like it. Cryptocurrencies are very volatile and you can make good money on exchange rate fluctuations.
- Diversification of the investment portfolio. Sharp price fluctuations do not suit all market participants, and diversification helps to reduce the risk of asset depreciation.
- Passive income. Money can work without your direct participation. In the crypto world, there is also an opportunity to receive passive income, such as staking or farming.
Of course, there are no risk-free use cases for cryptocurrencies. There are only activities with relatively greater and lesser risk. Therefore, for financial security reasons, you should not invest more in cryptocurrency than you can afford to lose. And before making financial decisions, do your own market research.
Custodial and non-custodial cryptocurrency exchanges
All paths in the crypto world eventually lead to cryptocurrency exchanges. Specialized trading platforms are divided into centralized and decentralized, custodial and non-custodial.
Centralized (CEX) platforms have owners and governing bodies. Decentralized (DEX) are managed by the user community. One way or another, CEX provide for the possibility of keeping customer funds on their own accounts and therefore they are classified as custodial. DEX, many crypto exchanges and p2p platforms do not store client funds and fit the definition of non-custodial services.
Many non-custodial services provide the ability to trade cryptocurrencies anonymously. No registration is required to trade on DEX, all operations are performed directly from the wallet after connecting to the platform. From the point of view of many users, this outweighs the objectively existing disadvantages of DEX, such as the lack of margin trading and the inaccessibility of cross-chain transactions.
Top non-custodial marketplaces
DEX dYdX runs on StarkEx, a second layer solution for Ethereum. The trading platform plans to transfer trading to its own blockchain in the Cosmos ecosystem. The site uses an order book and offers users a rather sick selection of trading instruments for margin and perpetual trading. NFT trading is possible on dYdX, it has its own token. The developers plan to keep all the features of the platform after the transfer to the new blockchain.
However, the choice of trading instruments on dYdX is far inferior to the capabilities of the CEX.
Uniswap is one of the leaders in its market segment, the first popular platform based on an automatic market maker. Initially, the project was launched on the basis of the Ethereum blockchain, later the functionality of the platform was transferred to a second-level solution. Only ERC-20 standard tokens are supported in the system.
Uniswap uses two smart contracts. One is for exchange transactions, the second is for adding assets. That is, the ability to add a new token is available to all users. The project has its own UNI token, which gives the owners the right to vote in the discussion of the further development of the project.
A popular DEX that runs on the BNB network and is based on the AMM mechanism. According to the current rules, users can contribute crypto assets to liquidity pools, and thereby create liquidity for the entire ecosystem.
Staking, farming, participation in IFO, NFT trading are available on PancakeSwap. The platform has its own CAKE control token.
The trading platform is powered by StarkEx, a second layer solution for Ethereum. ApeX is a multi-chain DEX and its users can trade tokens that are compatible with the Ethereum Virtual Machine. APEX and BANA tokens are used to organize management and encourage users. It is worth noting that the gas fee for trading in the system is zero, which helps to reduce price slippage.
LetsExchange is a popular non-custodial instant cryptocurrency exchange service. By clicking on the link https://letsexchange.io/ you can exchange more than 4,000 coins and tokens.. In addition to operations of the Crypto/Crypto type, the purchase and sale of digital assets for fiat is supported. All operations are completely anonymous, access to the platform functionality is open to any Internet user.