If you’ve invested in cryptocurrencies or have at least followed this industry for some time, you’ve probably come to realize the massive potential and opportunity crypto and blockchain technologies present. It’s probably evident to you that this innovative industry isn’t going anywhere and will only mature and flourish through time. Therefore, you want to identify and capitalize on the best opportunities crypto has to offer.
However, this can be a daunting task. There is an abundance of crypto projects, many of which are competing with one another, many are scams with shady marketing tactics, and many simply have poor execution, development, and leadership. There is just so much noise in this space that it can be hard to filter through all the bullshit and identify great projects worth investing in.
Lucky for you, over the years I have developed an extremely good filter and have been able to identify some of the best projects and trends in the space. One such trend which has really just begun to emerge in 2019 is the rise of decentralized exchanges (DEXs). I mean it when I say this trend is only just beginning, for 99% of the total cryptocurrency trading volume is still on centralized exchanges. However, DEX’s have come a long way since their beginnings in 2014 and I know of three, in particular, poised to do extremely well and explode with volume.
In the following article, I divulge valuable information on three very different DEX’s in which you can invest in and profit from today.
Kyber Network (KNC)
The first DEX in which I’m extremely excited about is Kyber Network. Kyber is an on-chain liquidity protocol that enables decentralized token swaps between Ethereum (ETH), Wrapped Bitcoin (WBTC), and other ERC-20 tokens. Additionally, the team behind Kyber is evaluating various cross-chain solutions to provide seamless token swaps between Bitcoin and other non-Ethereum network tokens.
Unlike centralized exchanges which require users to verify their identity and send tokens to the exchange where their identity and coins are susceptible to hacks, the Kyber protocol can be integrated into any application and smart contract-enabled blockchain to provide instant and secure token exchange. Therefore, Kyber network users can swap their tokens directly from their personal wallet in a secure manner while remaining anonymous. Additionally, Kyber’s solution features aggregated liquidity from multiple sources so that users benefit from the best available rates.
With Kyber, users don’t waste time sending coins to an exchange, where they then place an order, pay a trading fee, and then withdraw them back to their wallet by paying a withdrawal fee. With Kyber, users enjoy a near-instant, low-cost, seamless and secure token exchange without the hassles and risks of a centralized exchange.
Kyber Network Adoption
What Kyber offers its users is exactly what the crypto industry needs for the onboarding of new people who require simplicity and security when dealing with crypto. It’s also what experienced users have been waiting for in this industry and Kyber opens up a wide variety of inter-token use cases. For instance, decentralized finance projects can use Kyber to rebalance portfolios instantly, e-commerce vendors can accept multiple types of token payments, and dapps can allow users who don’t hold their specific token to utilize their platform or services with other tokens.
All in all, the Kyber Network exchange protocol is clearly very useful and it’s already gaining popularity with multiple partnerships and integrations. For instance, Kyber has been integrated with over 12 crypto wallets, 11 decentralized finance applications, 3 exchanges and trading integrations, and 10 decentralized NFT and e-commerce payments systems.
It’s clear that Kyber Network is doing very well and things are just getting started, which is why investing in Kyber’s KNC token might be a good idea, especially since you can start earning money from it today.
Kyber Network Crystal (KNC)
Kyber Network’s native cryptocurrency token is called “Kyber Network Crystal” with its ticker symbol KNC. The KNC token is an integral part of the Kyber Network ecosystem as it is used to connect liquidity contributors and the different entities that leverage on the liquidity network.
For example, the Kyber protocol requires KNC token reserves to provide token liquidity. These 3rd party token reserves must purchase KNC to pay for their operation in the network. In return for providing liquidity, they receive part of the fee in the form of KNC tokens for every transaction they participate in. Additionally, for each transaction in the Kyber Network, a portion of the collected fees (in KNC) are taken out of circulation forever. This approach is expected to increase the value of KNC, especially as the network grows.
All in all, users can start profiting today when they buy KNC and contribute to the Kyber Network liquidity by holding tokens in Kyber reserves.
DeversiFi and Nectar (NEC)
The next DEX which has grabbed my attention is DeversiFi (a spin on the words, ‘DeFi’ and ‘Diversify’). This new DEX is the evolution of EthFinex Trustless and was created by Bitfinex. The reason DeversiFi has got me so excited is because it’s the only high-speed decentralized exchange where traders can execute orders of any size directly from the security of their private wallet.
Unlike Kyber Network, which focuses on simplicity and ease-of-use, DeversiFi serves professional traders by offering advanced trading services including a Decentralized Exchange (DEX), Over-The-Counter Trading (OTC), Margin Trading, and API Trading. With DevesiFi, traders can trade the most popular cryptos from more than 30 markets with unmatched liquidity due to its decentralized hybrid architecture. As well, this architecture enables real-time order management that’s faster than any other decentralized exchange. Basically, DeversiFi offers all of the benefits of a centralized exchange while maintaining the most important aspects of a decentralized exchange.
For instance, traders on DeversiFi are not required to create an account by providing an email address, password, or KYC (know-your-customer) information. Anyone who wishes to trade on DeversiFi can simply connect their favorite personal wallet and trade instantly. Therefore, if you care about preserving the ownership and security of your cryptocurrency assets while trading them on a fast, liquid, feature-rich and easy to use platform, then DeversiFi should be on your radar. It’s honestly one of, if not, the most advanced DEX to date and is setting a precedent for all advanced DEX’s to come.
DeversiFi’s Exchange Utility Token - Nectar (NEC)
Now that you know what DeversiFi is all about, how can you invest in and profit from it? Well, the DEX has its very own exchange utility token called Nectar (NEC). The Nectar token lies at the heart of the DeversiFi DEX and is designed to maintain liquidity and market efficiency through the incentivization of platform loyalty. Large NEC token holders can become market makers and earn rewards in NEC for maintaining market thickness and minimizing spreads on the platform’s trading pairs. Additionally, smaller traders can simply use NEC to pay trading fees and receive varying discounts for holding the token.
Furthermore, the NEC token essentially represents ownership in the exchange as it enables holders to earn a stake in the future development, governance, and success of the platform. Also, the NEC token is undergoing revamped tokenomics with the launch of DeversiFi and token holders will benefit from exciting new incentives and will be able to participate in the upcoming necDAO, which will have the Nectar token at its core.
All in all, getting in early on a cryptocurrency such as this can potentially result in massive payouts. Take Binance’s BNB coin for instance, at its peak, it had increased by over 530% this year alone.
Another unique decentralized exchange which is quite different from the aforementioned two is StellarX, a trading platform built on the Stellar DEX with global fiat gateways.
StellarX is very interesting for three main reasons: first, it’s one of the only decentralized exchanges with fiat on-ramp support; second, trading on StellarX is totally free; and third, it supports a wide selection of assets including crypto, fiat tethers, commodities, bonds, and more. Literally any asset that can be tokenized has the potential to get listed on StellarX. However, currently, there are only cryptocurrencies, fiat currencies, and fiat tethers supported on the platform.
The StellarX platform is accessible via a mobile application available for free download on Android and iOS devices. The StellarX app is really quite powerful. You can deposit and withdrawal both crypto and fiat funds directly from the app, you can convert fiat tokens to money in your bank account, and you can swap crypto tokens for their native coins, all from within the app. All trades on StellarX are peer-to-peer (P2P), meaning you trade directly with other traders and always maintain sole control of your assets. StellarX does not have order books or its own trading system, it simply enables the P2P exchange of assets.
While StellarX is not overly popular just yet, it has the potential to become a highly popular place for the exchanging of digital assets due to it’s free, transparent, and instantaneous P2P exchange technology. Therefore, the token powering this entire platform, Stellar Lumens (XLM), might be worth investing in.
Each of the three DEX’s described above are very unique and different from one another. They provide three very different decentralized exchange services that each utilize a token powering their DEX. Therefore, these three DEX platforms present investors with a unique investment opportunity in the decentralized exchange space. For these platforms are not competing with one another, but are rather complementing each other with different use cases.
If you believe that decentralized exchanges are the future for exchanging cryptocurrencies and tokenized assets, then each of these three DEX’s and their native cryptocurrency tokens may be worth looking into.
After all, DEX’s provide traders with something centralized exchanges can’t; safe and secure trading directly from your personal wallet and the ability to remain private and anonymous. These two aspects cannot be overlooked as people will come to realize the importance of preserving the ownership and security of their cryptocurrency assets as well as their identity while trading them.
What do you think about these DEX platforms and their native cryptocurrency tokens? Which DEX is most likely to succeed and which crypto would you invest in? Let me know in the comment section below.