In the future, everyday purchases will be made with cryptocurrency. The exchange between fiat and crypto will be seamless and instantaneous, without the need to use a bank or credit card.
As many DEXs emerge, cryptocurrency will be more easily converted into another form of cryptocurrency, which is called an exchange. This is a huge step forward as it allows for much easier access to many different coins that can benefit users in different ways.
Depending on how you look at it, DEXs are either taking the place of cryptocurrency exchange or building upon them. Maybe a better way to view this is that DEXs are improving exchanges for the majority of cryptocurrency users—and if you’re one of those users, you want to know about these 5 popular DEX crypto coins to look out for in 2023.
What is DEX?
A DEX is a decentralized exchange, which means that it does not rely on a centralized server or third party to hold your funds. Instead, trades occur directly between users (peer-to-peer) through an automated process called smart contracts.
This means that the funds are always under your control and can’t be taken away from you by hackers or other malicious actors. Also, because there is no central entity controlling the network, there’s no risk of downtime due to maintenance being performed by someone else–you can trade at any time.
The main difference between DEXs and centralized exchanges is security. With a decentralized system like this one, there will never be any downtime because there aren’t any servers that need maintenance or updates in order for everything to work properly (unlike centralized ones).
As new coins enter the crypto space and old ones exit, we can expect to see a lot of changes in the cryptocurrency market and with it, an increase in price, including the XLM price.
What Are DEX Coins?
DEX coins are the digital currency that can be used on DEX platforms. They are not tokens, but have their own blockchain and can be traded on DEX platforms. The most popular example of a DEX coin is Ethereum (ETH). It was developed by Vitalik Buterin in 2015 as a cryptocurrency that would allow developers to build decentralized applications (DApps) on top of its blockchain.
Users can also use ETH to pay for products or services within these DApps. For example, if you’re buying something from Amazon using Amazon Coins (a form of digital currency), then that’s essentially what happens with DEX coins. They’re used as payment methods within different types of applications built on top of the underlying platform’s protocol.
Best DEX Coins to Buy in 2023
DeFi Coin
DeFi Coin (DEF) is a decentralized finance token that aims to provide liquidity to the crypto market. It is an ERC20 token based on Ethereum blockchain and can be used as a medium of exchange on DEX exchanges.
DEF has several advantages over other cryptocurrencies:
- The use of DEXs will help in reducing transaction fees while increasing their speed and reliability
- Users can easily convert their digital assets into fiat currencies without going through any third party or centralized service provider
Lucky Block
Lucky Block is a decentralized exchange that allows users to trade Ethereum based tokens. It’s a DEX that supports ERC20 and ERC721 tokens, so you can purchase any of your favorite crypto coins on the platform. Lucky Block is also a trustless and secure exchange, which means that it doesn’t hold your funds in an account or give them away to third parties like other exchanges do.
You can use Lucky Block to trade any number of different cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and more.
Yearn.finance
YEARN is a platform that provides crypto currency loans and a peer-to-peer marketplace. The goal of the company is to use these two platforms to effectively connect crypto currency investors with companies that need funds.
Yearn Finance has set up several business plans. These plans will allow the users to make money on their cryptocurrency holdings by using the marketplace or making loans.One of the main goals of yearn finance is to help the small to medium businesses get access to capital using cryptocurrency loans.
Uniswap
Uniswap is a decentralized exchange that enables users to buy and sell ERC20 tokens. The platform also offers zero-fee trading, as well as a number of other benefits for its users.
Uniswap is an open source project, which means that anyone can use the platform to create their own DEX. In addition, Uniswap uses the Ethereum blockchain, meaning that any token created on this network can be traded using its native smart contracts technology.
Sushiswap
Sushiswap is a decentralized exchange that allows users to trade cryptocurrencies directly with one another. It’s the first DEX to be built on top of the Ethereum blockchain and it offers users a secure method of exchanging their digital assets without having to go through an intermediary such as KuCoin or Kraken.
Users can buy tokens on Sushiswap by trading other cryptocurrencies, but they can also deposit fiat currencies like USD or EUR through bank transfers or credit cards.