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How to Choose a Decentralized Exchange

  • Thread starter Thread starter GoldenLady
  • Start date Start date

GoldenLady

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Decentralized exchanges function without the need for an intermediary between buyers and sellers, much like p2p transactions.
People prefer them because they don't need KYC, they are perceived to be safer than centralized exchanges since you hold your private keys and a lot of coins are listed first on these decentralized exchanges, allowing one to make huge profits if bought before centralized exchange listing.

Some things to consider before choosing a decentralized exchange is the average transaction fees, the types of wallets they support, their services offered and also customers reviews. This will help you make the best choice.
 
Some wallets charge insane amounts for transactions. I have found that if this is the case, it is usually for only specific crypto so it is worth having more than one wallet for different cryptos.
 
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