The decentralized finance industry is powered by decentralized exchanges that enable peer-to-peer cryptocurrency trading by reducing or eliminating the role of intermediaries in cryptocurrency trading.

These exchanges support peer-to-peer or P2P trading by leveraging the power of automated smart contracts rather than the conventional trading method.

Here are the top 3 decentralized exchanges to watch in 2022:

Pancake Swap

PancakeSwap is another decentralized exchange that deserves the attention of cryptocurrency enthusiasts in 2022. Established in 2020 on the Binance smart chain, PancakeSwap is one of the exchanges dedicated to non-fungible collectibles. This feature comes in handy for NFT enthusiasts who want a reliable platform where they can fulfill their passion for NFTs and invest in the future.

Although it started out as a copycat version of , it has gradually carved out a niche for itself as a reliable exchange with more impressive features such as a large number of products that include farming, staking, and gaming. in addition to NFTs.

It offers low transaction costs and high operational speed to provide users with an excellent trading platform. Its active community of users has boosted its contract interactions and daily transactions since its inception.

Security is another feature that improves the ratings of this exchange among cryptocurrency enthusiasts. It is safe to use and has never recorded any hacking experience. However, it is not immune to impermanent losses in farms and is vulnerable to scams that may result from users not doing their due diligence before transacting with other users on the platform.

On PancakeSwap, users are offered a wide range of wallets including:

• Math Wallet.
• Trust wallet.
• Metamask.
• Binance Chain Wallet.
• TokenPocket.
• Ciub98.
• Safe Pal.

Ravendex

Ravendex is the first non-custodial decentralized exchange built on the Blockchain. The unique decentralized exchange enables ultra-fast transfer of liquidity and assets between ADA and native Cardano tokens.

Ravendex ranks among the first projects in the Cardano ecosystem with the innovative idea of ​​borrowing and lending crypto assets through the Alonzo Hard Fork update that allows smart contracts to use a predefined set of rules to deposit assets on a crypto exchange and collect interest in a timely manner.

As a cross-chain exchange, Ravendex serves as a decentralized automated market maker protocol where users can trade and trade native Cardano tokens with confidence. It is also a native asset lending and borrowing protocol that simplifies the lending of assets on the Cardano network through its bulk lending and borrowing mechanism, allowing users to access assets from the pool that they can use for other De-Fi applications.

The first noncustodial DEX in the Cardano ecosystem is powered by its $RAVE token which has a total supply of one billion.

Uniswap

Uniswap is a leading decentralized cryptocurrency trading protocol that allows users to trade, earn, and leverage on its platform.

The main objective of the platform is to facilitate membership in the decentralized finance movement by lowering the barrier of entry into the financial markets. It also intends to open its doors wide to anyone considering building its liquidity pools, as evidenced by the more than 6,000 liquidity pools and 400 active trading pairs on the exchange.

Platform users can trade a wide range of Ethereum or ERC-20 compatible assets. They will have no trouble exchanging these assets as Uniswap offers a user-friendly and easy-to-use interface where connecting to a crypto wallet, depositing crypto into a liquidity pool, and exchanging one digital asset for another is hassle-free.

As a decentralized exchange, Uniswap operates liquidity pools where users can stake cryptocurrencies and become liquidity providers. On each transaction, the exchange charges a fee which it distributes among its liquidity providers.

Every cryptocurrency investor or trader should seek out these three Tier 1 exchanges this year and beyond for the best crypto investing and trading experience.

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