DeFi Token Trading Exchanges | Review of exchanges for buying and selling decentralized finance tokens
In the wake of the demand for DeFi projects, the demand for their tokens is growing. Many are in a hurry to buy promising assets in the hope of increasing their profits – this does not always lead to a positive result, since the sphere is extremely volatile. The editorial staff of Btcnewsweb.com offers an overview of exchanges for trading DeFi tokens, where you can buy and sell them in the fastest, most convenient and profitable way.
|Stock exchange||Verification||DeFi tokens||A type|
|Binance||No||LINK, UNI, MKR, UMA, YFI, SNX, ALPHA, NBS, BAKE, BCPT, BURGER, SPARTA, WING, CREAM, SWRV, OAX, PERL, INJ, BEL, XVS, BZRX, SUN, MFT, WNXM, AST, ORN, REQ, CAKE, RCN, IDEX, FLM, DIA, CRV, TRB, SRM, BTS, JST, KAVA, BNT, YFII, RUNE, BAL, NMR, SUSHI, LUNA, BAND,RSR, REP, KNC, LRC, ZRX, REN, COMP||Centralized|
|Currency||Yes||LINK, COMP, UNI||Centralized|
|Bitmex||Yes||YFI, LINK, DOT||Centralized|
|Huobi||No||DOT, LINK, UNI, YFII, YFI, CRV, SUSHI, BAND, BAL, AAVE, KNC||Centralized|
|CEX.IO||Yes||WTBC, YFI, UMA, LINK, DAI, SNX, COMP, MTA, MUSD, SUSHI, CREAM, KNC, BAL, CRV, BUSD, REN, BAND||Centralized|
|Coinbase||Yes||BAL, UMA, WBTC, DAI, COMP, BAND, KNC||Centralized|
|Kraken||Yes||LINK, DOT, PAX, DAI, KAVA, COMP||Centralized|
|Bitfinex||No||YFI, DAI, DOT, COMP, BAL, KNC, PAX||Centralized|
|Uniswap||No||WETH, DAI, FARM, WBTC, CORE, LINK, UNI, PICKLE, YFI, COMP, MKR, SXP and others||Centralized|
|Curve Finance||No||DAI, WBTC||Centralized|
|Balancer||No||BAL, SNX, UNI, CREAM, WBTC, IDEX, DAI, MKR, REN, LINK, YFI, YFII, PAX, SUSHI, UMA, WETH and others||Centralized|
|SushiSwap||No||YFI, LINK, DAI, USDC, LEND, SUSHI, COMP, SNX, CRV, BAND, UNI, SRM, WBTC, UMA and others||Centralized|
- 1 What are DeFi tokens and why are they needed
- 2 Popular DeFi tokens that can be bought on exchanges
- 3 Token selection criteria
- 4 Exchanges for buying or selling tokens
- 5 1. Binance
- 6 2. Huobi
- 7 3. OKEx
- 8 4. FTX
- 9 5. CEX.io
- 10 6. EXMO
- 11 7. Currency
- 12 8. Coinbase
- 13 9. Kraken
- 14 10. Binance Dex
- 15 11. Uniswap
- 16 12. Sushiswap
- 17 13. Balancer
- 18 14. Curve Finance
- 19 Conclusion
What are DeFi tokens and why are they needed
Most tokens, including such well-known representatives as Synthetix, Compound, Maker, etc., offer the following opportunities to asset owners:
- the right to vote in the management of the system;
- payment of commission fees within the network;
- collateral for derivatives or synthetic assets.
More generally, people are now buying DeFi tokens mainly for price speculation. Tokens can increase their value both instantly and in the long run. This is a high-risk tool, which, with the proper degree of skill and luck, can bring multiple profits.
Popular DeFi tokens that can be bought on exchanges
Consider the decentralized assets that currently have the greatest potential and are actively used for trading:
✅ Uniswap (UNI). The own token of this decentralized exchange allows users to manage fees, treasury and the protocol as a whole, change the list of default assets, work with the Ethereum Name Service, etc.
✅ Maker (MKR). The governing token of the stablecoin creation platform. The main role is participation in voting.
✅ Wrapped Bitcoin (WBTC). A tokenized bitcoin that is widely used in a variety of DeFi protocols to increase liquidity.
✅ Aave (LEND). A token for controlling the credit protocol, giving the holders the right to vote.
✅ Harvest Finance (FARM). A cash flow token for the Harvest standalone hedge fund to generate additional profits.
✅ Compound (COMP). An asset to help decentralize protocol governance.
✅ Curve Finance (CRV). Acts as a reward for liquidity providers and allows you to capture the value of pools.
✅ Synthetix Network (SNX). Designed to create synthetic assets.
✅ yearn.finance (YFI). Management token in Credit Protocol Aggregator.
✅ RenVM (REN). Plays a role in the safety of the Ren ecosystem.
There are three main reasons why DeFi is becoming such a popular industry. The first is the anticipated implementation of Ethereum 2.0, which should address most of the scalability issues that are currently holding back the acceleration of Decentralized Finance. The second is the functional utility of protocols. Decentralized applications are gaining traction on the web. The third is growing institutional interest. Today it is difficult to find a large corporation that would have bypassed such a promising direction with attention (and investments).
Token selection criteria
Being in the top is not a guarantee that an asset will increase in value. There are several more criteria to help you choose a really high-quality product. Perhaps the main one is the idea. Only a truly promising project can ensure further development and promotion. Find out more about the development team, community, plans for the future. Study the White Paper and assess the relevance of the idea itself in the current conditions and in the future. So, for 2021, projects related to cloud solutions and financial technologies are most popular from the very start.
Some analysts, such as former Messari product manager Qiao Wang, believe DeFi tokens are the best investment opportunity for the next ten years. However, there are many low-quality projects in the industry that have no prospects, so it is important to be careful about the choice.
Exchanges for buying or selling tokens
Let’s talk about exchanges for trading DeFi tokens. All of the sites listed below have been verified by millions of users and have a solid reputation. Choose the ones that best suit your personal needs.
In recent weeks, the centralized Binance platform has been actively working with DePhi project tokens – it conducts IEO, launched the Binance Launchpool pharming platform, adds new assets to the listing, and developed the Binance Smart Chain blockchain specifically for deploying decentralized projects.
DeFi tokens for trading: YFI, YFII, DOT, FIL, REN, LINK, UNI, MKR, UMA, AAVE, SNX, COMP, ZRX, LRC, SUSHI, KAVA, CRV, FLM, CAKE, INJ, CREAM, WING, BAKE , ALPHA, etc. It is also worth noting that the exchange launched the DeFi Coin Index (ticker DEFIUSDT) at the end of August. In the beginning, it rose to $ 1189, after which it fell, and is now trading relatively stable at $ 525. The index is available for trading on the Binance Futures futures platform.
Huobi is also among the popular crypto exchanges that are following current trends. At the moment, it offers new opportunities for people who are passionate about the DeFi sphere. A special section has been opened for convenient management of decentralized finance. Also, the management is actively investing in this sector.
Examples of DeFi tokens for trading: UNI, AAVE, WBTC, UMA, CRV.
It is no coincidence that OKEx is considered one of the most demanded crypto trading platforms in 2021. In addition to the wide range of assets available for exchange, he regularly adds new features to improve the efficiency of funds management. A special section OKEx Earn allows you to earn on different types of coins, including tokens of decentralized finance projects.
Examples of DeFi tokens for trading: AAVE, UNI, COMP, SUSHI, SNX
FTX is a platform aimed at covering all modern cryptocurrency trends. It is best known as a service for trading in derivatives, but the functionality is far from limited. Of course, the site supports a lot of def tokens, on which you can effectively earn money with the proper skills and care.
Examples of DeFi tokens for trading: YFI, SUSHI, UNI, SNX, MKR
With the help of the Cex.io crypto exchange, you can buy cryptocurrency from a card in a secure regulated environment and then exchange it for other cryptocurrencies and stablecoins. The platform has a comfortable, well-thought-out interface and requires verification of each account; this is one of the measures in the fight against money laundering.
Examples of DeFi tokens for trading: UNI, TRX, SUSHI, ZRX, YFI
The EXMO crypto exchange, registered in the UK, provides verified users with access to trade in several dozen popular digital assets. It is possible to deposit fiat funds into the account using bank cards and electronic wallets. The EXM native token aims to provide multiple benefits to holders.
Examples of DeFi tokens for trading: WAVES, ROOBEE, CHZ, DAI
The Currency tokenized asset exchange also supports a number of DeFi tokens. Its development director Nikolay Markovnik reminds clients of the possibility of hedging risks using leverage, since no types of fundamental or technical analysis can be applied to DeFi assets.
Examples of DeFi tokens for trading: LINK, COMP, UNI. More tokens are planned to be added if the community’s need for it is identified.
Jacob Horn, Product Manager at Coinbase, believes DeFi is an integral part of today’s open financial system. These tools are censorship resistant, programmable, unbiased, and accessible to anyone with an Internet connection. At the moment, the exchange is focusing on increasing the adoption of DePhi in the world.
DeFi tokens for trading: LINK, YFI, UNI, MKR, UMA and others.
Cryptocurrency exchange Kraken announced in the summer that it will take an active part in the field of decentralized finance (DeFi), in connection with which many DeFi project tokens have been added to the platform. In the wake of interest in this topic, the developers do not plan to dwell on this and monitor the market for new promising projects.
Examples of DeFi tokens for trading: DOT, FIL, YFI, SNX, CRV, COMP, KAVA, KNC, STORG and others.
10. Binance Dex
The Binance DEX decentralized exchange allows you to trade DeFi assets and other cryptocurrencies without storage, that is, the user’s private keys for accessing the wallet are stored. The platform supports more than 130 trading pairs, mostly assets hosted on the Binance Chain blockchain, and is most actively used for trading the TWT token (this is an asset of the Trust Wallet, officially supported by the Binance exchange).
Examples of DeFi tokens for trading: TWT, RUNE, AWC, CAS and others.
The Uniswap decentralized platform operates on the “automatic market maker” principle. Participants deposit funds (ERC-20 tokens) into liquidity pools, thus automatically generating markets based on supply and demand. For the supply of liquidity, the exchange rewards users with its own UNI token.
Examples of DeFi tokens for trading: COMP, LEND, REN, SNX, UMA
A project created on the basis of Uniswap and working on the same principle, with some difference in the methods of rewarding the participant (once the liquidity has been deposited, it continues to receive the reward indefinitely, although over time it will be diluted and reduced). Sushiswap positions itself as a platform fully focused on decentralization in all aspects of work.
Examples of DeFi tokens for trading: YFI, SUSHI, DAI, WBTC, UNI
A platform that also works with liquidity pools. It is fundamentally different in that the user himself indicates in what ratio he wants to contribute his assets, while in the previous ones they are automatically distributed 50/50. There are various types of pools including Smart Pools with profit optimization.
Examples of DeFi tokens for trading: WBTC, BAL, CREAM, MKR, LINK
14. Curve Finance
The Curve Finance exchange supports a large number of different stablecoins, allowing them to be exchanged under specific conditions and rewarding CRV tokens for adding liquidity to specific pools. The main features of trading are low commissions and low slippage. One of the best places to trade stablecoins.
Examples of DeFi tokens for trading: PAX, USDT, DAI, USDC, renBTC
The future of DeFi looks promising, and it is not surprising that almost all exchanges provide conditions for trading DeFi tokens, as well as introducing additional functionality to facilitate this process. We certainly still have a lot to expect in the decentralized finance space.