How to

Five tutorials to learn how to use decentralized exchanges

Key facts:
  • Learn more about the features that DEX platforms have.

  • You will be able to buy and sell Ether, Bitcoin as well as add and withdraw liquidity from the market.

If you have already decided on decentralized exchanges (DEX), here we explain how to work with these platforms. At the same time, if you feel that you have not decided on one in particular, we present five options, so that you can choose.

Decentralized exchanges have a cryptocurrency exchange model where funds are controlled and negotiation is directly in the hands of the user. Today, most crypto asset trading takes place through centralized platforms, which require personal information from their users, act as intermediaries and control funds.

Among the benefits offered by decentralized exchanges is the fact that revolve around the philosophy of eliminating the middleman, with a model of equal interaction, without permission and without central authorities. .

Let’s take a look at the features of some of these platforms, while learning how to use them.

How to use Bisq to buy or sell cryptocurrencies anonymously

Bisq breaks with the traditional exchange concept. They do their best to make their brand privacy-oriented, as they clearly state in theirs blog corporate, because it is a P2P (person to person) exchange site, with Network encryption like Tor (anonymous network), to hide your computer’s IP address.

When you use Bisq, the exchange is done through a direct relationship between the seller and the buyer, without going through a central exchange wallet. This can reduce the usual risk of losing crypto assets than when using a traditional exchange provider.

Another significant advantage is the privacy that this service offers, since There is no need to register an account or provide information to the service provider with the aim of buying or selling cryptocurrencies. Trade history and transaction details are not recorded or stored by the central service provider.

In addition to explaining the benefits offered by the Bisq platform, this guide details the steps to follow to download the software and be ready to exchange privately.

Como provider of bitcoins y litecoins and Hold Hold

Hold Hold is a bitcoin and litecoin exchange platform, the main feature of which is that it allows instant trading between different cryptocurrencies, directly from your personal wallet.

Among the advantages that Hold Hold offers is security, because uses multi-signature contract transactions Pay-to-ScriptHash (P2SH).

So, the exchanged funds are kept in escrow (escrow agreement) until the parties agree to release them with their respective signatures, so that the company never manipulates them.

Also, Hold Hold Enables support for Bitcoin addresses using Segregated Witness (SegWit) and natively through its interface. With this implementation, users can generate and use addresses starting with “bc1”, using Bech32.

The following CriptoNoticias guide guides you so that you can learn how to use Hold Hold in a practical and easy way.

How to use Uniswap to trade any ERC20 token

Uniswap is an Ethereum based swap market designed to facilitate automatic exchange between any ERC20 token to Ethereum and vice versa, without intermediaries and with low commission.

Uniswap is completely on the blockchain, and people can use the protocol as long as they have MetaMask installed since we are talking about the Ethereum DEX so we need this extension to interact with Uniswap.

Another feature of Uniswap is that it facilitates the exchange of any token, thanks to the fact that Any user can open a new stock marketadding its own ERC20 token to the catalog via an exchange contract that the platform allows to generate.

Also It is possible to use a trading concept called arbitrage. That is, users will seek to benefit from the different exchange rates of the various existing markets – whether centralized or decentralized – where that particular ERC20/ETH pair is listed, making the exchange rate self-regulating without any kind of intermediary, in addition to the user community itself.

With the CriptoNoticias tutorial you will learn what Uniswap is and how it works. You will see step by step how to make an exchange on this platform as well as add and withdraw liquidity in the market and you will be able to create an exchange market.

Learn how to exchange bitcoins for fiat currencies on the LocalBitcoins platform

LocalBitcoins allows you to exchange bitcoins for local currencies. The special feature of this platform is that Its users are the ones who create the movement of the stock marketthey create payment prices and market volume.

It is a service that provides more value to the user, since it is open, for all countries and that accepts all available payment methods.

It has a book of purchases and sales, where the country, payment method and amount are selected, it also displays trust badges and the percentage of completed transactions in each user entry of the applicant.

Buy and sell Ether on LocalEthereum

LocalEthereum is another decentralized P2P exchange that allows direct buying and selling of Ether (ETH).

From this platform, you can find various payment methods, from bank transfers, bank deposits and international transfers, to payment systems such as PayPal, Wester Union, Skrill, gift cards and others.

The contracts on which the negotiations are based on LocalEthereum are fully decentralized and native to the Ethereum network itself, which means that yes no authority or third party intervenes in the way the negotiation is configured Between parts.

Communication between merchants is end-to-end encrypted, meaning there is no way to know the content of what the parties are communicating. For that, It creates some kind of key or coded system that is generated when you agree to start buying or selling. and is destroyed when realized.

For its part, the only way LocalEthereum can access this communication between the parties is if one of them expressly authorizes it, which could happen in the event of a dispute.

In this guide, you will learn how to register on LocalEthereum, understand the platform, buy and sell ether and exchange it for fiat currency from anywhere in the world.

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