Checking out DEX alternatives to CEX with Orion Protocol
Checking out DEX alternatives to CEX with Orion Protocol

Checking out DEX alternatives to CEX with Orion Protocol

By Greenchic | Investing and Trading | 11 May 2021

orion, dex, trading, cryptocurrency, blockchain

 A platform to trade/swap cryptos with liquidity of all major Crypto Exchanges and Dexs


orion, dex, trading, cryptocurrency, blockchain

Although it’s not perfect, one can find alternatives to trading cryptos in Centralised Exchanges (CEX), one such solution could be Orion protocol. Orion protocol has partnered with major CEXs and Blockchain Platforms that have Decentralised Exchanges (DEXs) aggregating their liquidity.

So, this liquidity aggregator has the accumulated liquidity of all platforms it’s partnered with - Binance, Binance Smart Chain, Kucoin, BitMax, Huobi EcoChain etc, which enables traders to swap and trade cryptos in one platform that offers good liquidity and volumes.

orion, dex, trading, cryptocurrency, blockchain

Orion Protocol can be accessed even through Binance Chain version of Metamask

There is no KYC needed to use the Orion protocol and one can connect their Metamask wallet that is compatible with both Ethereum and Binance Smart Chian Blockchains to interact with Orion protocol. Yes, you can even use the Binance Smart Chain version of Metamask and interact with Orion protocol, so no need to fret about the Ethereum fees.


Dex that can execute trade orders matching best prices and lowest fees

orion, dex, trading, cryptocurrency, blockchain

The cryptos that are traded are in your custody without you requiring to give up the ownership of your private keys so Orion protocol is a DEX. The swaps and trades that happen get executed with the best price and lowest fees, with Orion scanning through the aggregated order books of various CEX and DEX platforms and matching it with the best price and lowest fees on offer.

 Limitations of CEX making crypto investors search for DEX alternatives


cex, trading, binance

This is what crypto investors like me are searching for because in CEX, trading cryptos during peak congestion times which are generally periods when people are rushing to book profits, the CEX could crash due to outrage, there is always that possibility. Plus, many times I feel uneasy to have left my cryptos in CEX even like Binance, because it’s under the control of the CEX.

 My trouble with Binance Exchange with my Atom cryptos stuck there is frustrating


bittrex, cex, withdrawalThese Atom cryptos I withdrew from Bittrex to Binance is stuck because of missing memo

Recently, my ATOM coins are stuck in Binance Exchange because I could not type the memo details that the Binance platform wallet requires for accepting deposits of Atom coins.

What happened was when I transferred the ATOM coins from my Bitrex Cosmos wallet, it did not have a memo field for me to type in the memo details of my Binance platform’s Atom wallet. So my Atom deposits are not getting reflected in my Binance wallet and it’s stuck there.

I am currently having a hard time to retrieve my Atom cryptos contacting Binance customer care because they are asking me to do a cumbersome procedure of making a 30 MB video of my login to Bitrex Exchange and then showing the record of Atom cryptos withdrawn from the platform.

cex, trading, binanceForm to fill up in Binance Exchange to recover your Atom cryptos that are stuck due to missing Memo


I am finding it impossible to make such a short length video as they wanted and am pleading with them to do something and retrieve my Atom coins.

This is really another reason why I am looking for DEX alternatives to trade cryptos.

 Trading only possible in cryptos that are compatible with Ethereum and Binance Smart Chain

Right now, Orion has integrated only two blockchains - Ethereum and Binance Smart Chain so I can’t trade native cryptos of other Blockchains I hold like Cosmos(Atom) and Theta there. Someday, I am hoping that trading cryptos of all Blockchains can easily be possible in a DEX, maybe like Orion Protocol or Thorchain.

Cosmos Blockchain is not considered for integration with Orion Protocol yet

Orion unfortunately has not detailed any plans to integrate Cosmos Blockchain, but it has plans to integrate other Blockchain platforms like Cardano, Polkadot.
This means that if I want to trade Atom crypto or tokens of projects that are built inside the Cosmos Blockchain, I can’t use Orion for sure as no Cosmos compatible wallet is planned for integration there yet.

dex, cex, trading, blockchain
Orion has plans to integrate with more blockchains -

 Still Orion Protocol is a DEX platform that has potential for further growth

Even so Orion Protocol looks promising to me and decentralised pre-mainnet staking and AMM pools are coming into the Orion protocol terminal of which I will talk about in my next article.

Checkout Orion Protocol here -

Disclaimer - I am not a crypto or blockchain expert but a novice investor, in the field and learning on the go. Do your due diligence before taking your investment decisions.

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I love to write on things I am passionate about - environment, citizens activism, crypto and life in general. I am a cat enthusiast, nature lover. I am excited to engage at the Publish0x platform by reading and writing crypto and other content here.

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