When you think of crypto exchanges, names like Binance and Coinbase quickly come to mind. However, there is a difference between centralized and decentralized exchanges. DEXs came about with the advent of decentralised finance. Today, crypto holders interested in joining the bandwagon of DeFi users can choose from the top decentralized crypto exchanges around. Are you one of them?

Although the blockchain is decentralized, regulatory bodies and intermediaries still help crypto holders manage their wallets and digital assets. These middlemen and regulatory bodies constitute the centralized aspect of crypto. There are advantages to these third parties, like ease and higher trading volume. However, there is also an increased risk of hacking, theft and even exchange crashes. With decentralized exchanges, some of these cons are mitigated.

So in this article, we’ll unravel 15 of the best decentralized crypto exchanges available. Shall we begin?

15 Best Decentralized Crypto Exchanges (DEXs)

1. Kyberswap

Kyberswap is a decentralized crypto exchange that operates on 12 blockchain networks, including Solana, Ethereum, Polygon and Cronos. It analyses these networks and provides its users with the best token prices. Hence, you can refer to it as an aggregator DEX. Major benefits are its support of multiple networks and the aggregate analysis to facilitate profitable trades for its users.

2. Uniswap

Uniswap is one of the best decentralized crypto exchanges you’ll find. It uses the Automated Market Maker system of operation. This means it provides liquidity for crypto traders using its platform and ensures fairness in determining the highest and lowest sell offers. Uniswap supports the Ethereum and polygon networks. You can swap tokens, buy and sell NFTs and even buy crypto with your credit card.

3. Sushiswap

decentralised crypto exchanges

Sushiswap is another DEX focused on providing liquidity to its users. It is an Ethereum-based platform that allows users to swap ERC-20 tokens via liquidity pools. It also utilises the AMM system to reduce market manipulation. Among the services this decentralized exchange provides are a lending market, a yield farm and trading. In all, it is relatively easy to use and suitable for beginners.

4. dYdX

best DEXs

This is another open-source exchange. dYdX allows crypto users to carry out decentralised margin trades to minimise losses. It’s a platform for seasoned crypto traders looking for a decentralized market. But one drawback is that it only supports the Ethereum blockchain.

5. Dexguru

If you’re looking for better trading opportunities and the tools that enable you to trade in a decentralised setting, Dexguru is a good option. It’s a simple decentralized crypto exchange based on the Ethereum network. So you may have limitations on the assets you can buy or sell.

6. Bancor

Bancor – Another AMM decentralized crypto exchange built on the EOS and Ethereum networks. The DEX uses AMM smart contracts for trades. Although it only supports Ethereum and EOS blockchains, its AMM smart contract protocols allow you to integrate it with other exchanges using the same protocol to facilitate liquidity across multiple chains. Bancor has its token known as BNT. The token acts as a buffer against which other smart contract assets are traded.

7. Cowswap

This DEX is also an Ethereum-based protocol enabling gas-less peer-to-peer user trading. This means that Cowswap operates on a demand-meets-supply basis and vice versa. If there is a supply or demand for a token and the corresponding demand or supply is unavailable, the DEX’s AMM protocol handles it. Cowswap also supports trades across other exchanges and aggregators as long as the tokens are on-chain.

8. Curve

Curve is quite straightforward in its offerings. It uses AMM protocol to create liquidity pools for assets that are very similar, for example, stablecoins. This way, there’s less slippage (a term that describes the high cost of a transaction). The DEX is built on the Ethereum blockchain. This means it may not allow you access to other off-chain tokens for trading.

9. Dodo

Dodo is another decentralized crypto exchange that uses Proactive Market Maker (PMM), an offshoot of the AMM protocol. PMM mimics the settings of a human-made market with all the accompanying conditions. It is an aggregator DEX and is focused on reducing slippage as well as impermanent loss.

Note📌: Impermanent loss is a situation in crypto where your profit from pooling your token in a liquidity pool is less than the token’s value when you first deposited it.

10. Paraswap

decentralised crypto exchanges

Here, we have another decentralized exchange aggregator. Paraswap analyses token prices across various DEXs and allows for liquidity pooling across those DEXs to reduce slippage and lower gas fees as much as possible. It operates on the Ethereum and EVM networks.

11. OpenOcean

decentralised crypto exchanges

OpenOcean is reputed to be a leading DEX aggregator that allows its users to swap tokens across multiple blockchains. It’s a more trade-centric platform, offering liquidity across different networks to reduce gas fees and get the best token prices. It also comes with a suite of Web3 development tools. It’s suitable for crypto mavens interested in maximising trading opportunities across multiple networks.

12. Bisq

best DEXs

Bisq is one of the few DEXs that operate on the Bitcoin chain. However, it allows trades off the Bitcoin blockchain and even for token-fiat or fiat-token trades! Bisq is a simple open-source Peer-to-peer platform that is versatile for those who want a decentralized exchange that allows complete liquidity, fiat currency included.

13. Saber

With its focus solely on stablecoin and wrapped token pairs, Saber stands out as one of the decentralized exchanges on the Solana blockchain. It also utilises the AMM protocol and is a wise choice for crypto holders who want to trade stablecoins in a decentralized setting.

14. Balancer

best DEXs

Like Uniswap and Sushiswap, Balancer is a DEX built with the AMM protocol. Its unique feature allows liquidity providers to add up to eight tokens per liquidity pool. The implication is a portfolio-like liquidity pool. Its drawback is that it only supports ERC20 tokens.

15. IDEX

One very unique thing about IDEX is that it operates on both the AMM and order book systems. Other crypto connoisseurs refer to it as a hybrid liquidity decentralized exchange. This hybrid system makes it faster in trading than other DEXs. One drawback is that IDEX introduced KYC. But users can still connect to it as a dApp while keeping custody of their wallets if they choose not to comply with the KYC requirement.

How to Choose the Best Decentralised Crypto Exchange For You

If you’ve read about decentralized crypto wallets and are looking for a good DEX to start your DeFi journey, what factors should you look out for? How do you know which decentralized crypto exchange to use? You need to know the boxes a DEX must have before you use it because choosing blindly will only confuse you and may even lead you to costly mistakes.

It’s easy. Consider the following factors.

  • Blockchain support
  • Ease of Use
  • Versatility
  • Reviews

1. Blockchain Support

Although many decentralized crypto exchanges allow users to access liquidity pools or trade across multiple blockchains, many others still restrict transactions to tokens within a particular network. So before you use a specific DEX, check the blockchains it supports. Some DEXs, like OpenOcean, support multi-chain trading. It all comes down to the tokens you’re interested in or already have in your wallet.

2. Ease of Use

Some DEXs are better suited for DeFi newbies, and others are great for the OGs in the crypto game. It may seem unappealing, but the fewer the features, the easier it is for beginners because there will be lesser confusion. Examples of the simpler DEXs are Saber, Bisq and Curve. However, if you’re an oldie and you know your way around the DeFi maze, by all means, hop on the more sophisticated DEXs like dYdX, Balancer or Dodo.

3. Versatility

Except you’re just learning the ropes, you would be better off going with a versatile decentralized exchange. Versatility refers to different features or the freedom to carry out multiple functions. Some functions include swapping tokens across multiple chains, liquidity pooling, running aggregates, etc. The more, the merrier, right?

4. Reviews

What are people saying about these exchanges? What is the public opinion on an exchange’s features, new releases, updates, etc? Apart from the DEX’s website page, read reviews of anyone you’re interested in. Join Reddit forums and ask about other users’ experiences. Experience is the best teacher when it’s another person’s – at least, in this case.

How To Keep Your DEX Account Safe

Yes, security is one of the top features and benefits of DeFi and decentralized crypto exchanges. So why do you need to keep your account safe? Because anyone who can access your account can access your wallet if it’s connected and, by extension, your assets! So the right question should be, how do I secure my DX account? Easy. Do the following.

1. Ensure You Use The Right Website.

It’s a no-brainer, right? Well, many phishing sites pose as legit sites, and you can identify a phishing website by checking if the connection is secure and if your browser gives the URL a green tick. Phishing sites are notorious for stealing sensitive information from internet users, passwords included. So, be on the lookout.

2. Use a Unique Password.

When creating your account, ensure your password contains letters, numbers and special characters because that’s the best way to create a strong password. But if the password is to be a seed phrase, use unique combinations that no one can guess. Write it down somewhere safe too. Don’t save it on your Google account.

3. Password Protect Your dApps

Ensure your decentralised apps are protected whether you access them through your browser or apps on your mobile phone. Use your biometrics anywhere possible to encrypt the apps.

With all these measures in place, you don’t need to worry much about your DEX account. Security is a winning point in decentralised finance, except you lose your private keys or seed phrases.

Final Word

Decentralised exchanges are growing in popularity, and rightly so. DeFi seems to be making significant progress in tackling the challenges of centralised finance. The top 15 best-decentralised crypto exchanges listed in this article are great options for their different features and benefits.

Choose one of the best DEXs today and enjoy the security, privacy and transparency the platforms offer.

Last updated on August 29, 2025