Cryptocurrency exchanges are becoming increasingly more centralized. This is a severe issue as it poses the risk of potential security breaches and loss of funds. There have been many incidents in which an exchange has shut down, taking all users’ funds. These events cause panic amongst investors and create a deep distrust for these platforms. 

Decentralized exchanges, also known as DEX’s, attempt to solve this problem by removing central points of control or failure such as servers that could be hacked or go offline - instead, they rely on distributed networks to validate transactions according to pre-programmed rules (smart contracts). 

Decentralized Exchanges also offer much higher efficiency than traditional systems due to their automated nature, eliminating the need for human interference during trading sessions. In addition, there are several DeFi exchanges that you should check out. 

Before starting to trade on a Decentralized exchange, make sure you have a MetaMask Web 3 wallet set up on your browser. With MetaMask, you can have several networks on one wallet. 

Two of the most popular networks that most users are on are Ethereum MainNet and Binance Smart Chain. An incredible tool called Binance Bridge helps users move their funds from Ethereum MainNet to Binance Smart Chain (BSC).

Top 3 DeFi Exchanges (DEX)

1. UniSwap - UniSwap is a decentralized trading protocol for the Ethereum Mainnet. They provide liquidity to traders, open-source apps for developers who want to contribute to DeFi growth and security with an easy user experience - all while being part of the growing development in this new ecosystem we call "DeFi." 

2. PancakeSwap - PancakeSwap is a decentralized exchange that makes it easy for people with BEP20 tokens to swap them on the Binance Smart Chain. With an automated market maker model, users trade against liquidity pools filled up by other traders who deposit their funds in return for liquidity provider (LP) tokens. They can then reclaim these, plus some of the trading fees from each transaction they make using this platform!

3. 1inch Network - 1inch Network is a platform that connects decentralized protocols into one, easy-to-use interface giving users the best possible price for a swap. They offer users an all-in-one crypto wallet and safe entrance to the world of DeFi with opportunities for liquidity pools across different user cases on 1 inch network- which are perceived as being revolutionary in their own right.

Today, the speed at which DeFi is moving makes it difficult to keep up. At Defibeat, our mission is to help keep you in the loop with the latest and most relevant information you need to be on the cusp of financial innovation successfully. We do not promise financial freedom. However, we allow you to learn about these new economic systems and use these tools to define your own financial future. Join our DeFi inner circle.