Leodex is the DeX (decentralized exchange) built by the Inleo team. This time when we talk about self custody then it is imperative for us to follow in all our trading activities and this is why using a decentralised exchange can be a good idea. There are so many centralised exchanges available in the market but the number of decentralized exchanges is comparatively low. However, in the last couple of years, the number of decentralised exchanges has increased and hoping that this will continue to grow because the demand for this type of exchange is growing.
DeX is the future of Trading
Crypto is decentralised and to meet its nature a Dex is the only option. If we go with Cex, we need to follow the KYC process, which is a different practice. We also need to keep our crypto funds in the exchange wallet and since the key remains with the exchange, we have no control over it. There have been multiple incidents where user funds are misused or lost because of the unfair practices followed by centralised exchanges. With Dex, there is nothing like this as we keep the funds custody with us and we own the key so there is nothing to worry about. We can swap/trade, provide liquidity and much more just by using the non-custodial wallet and not at all leaving the control to our funds.
Why to start Using LeoDex
Leodex is a decentralised exchange and there are many reasons why we should start using it. Some of them, I am writing below-
- Leodex is decentralized hence we maintain the self-custody of funds while using it.
- We need not follow the KYC process so all the trades are anonymous but can be tracked using the wallet address but no identity is revealed.
- Lodex has all major tokens listed like Hive, HBD and Leo etc. These are layer 1 and layer 2 tokens listed and with leodex, we have the option to trade layer 2 with layer 1 and this is a great option that we have through leodex.
- It also has stablecoins listed like HBD and USDC etc.
- Leodex supports multichain which means we can perform swaps on various chains and there is no limit to working on simple blockchain. Multichain swap is the future and leoxex is future-ready.
- Leodex supports leading wallets like Metamask and Xdefi etc along with keystore is a different way to work in dex but it's user-friendly and easy.
- Hive a great blockchain network and we have HIVE and HBD 2 coins. Hive is listed on many centralised exchanges but HBD is not but with Leodex HBD is also listed. Now we can buy HBD using layer 1 coin and this is possible only through Leodex.
- Leodex offers a nice user experience and the UI is smooth and easy on the eyes. The team is also working on adding many innovative features which means in future it will offer an even better user experience.
- Needless to say more coins will be listed in future and its going to be one place for all of our trades for us at the hive. We even have the option to provide liquidity and earn rewards.
These are some of the reasons why I believe its a good time for all of us at Hive to start using leodex. Although the team has fixed almost every bug and they are still working to make it smooth as much as possible. we get everything we need for hive and HBD trading and that too with the nature of decentralisation.
Snapshots are from leodex.io
Thank you