Top Decentralized Exchanges for 2025

Looking to find the best decentralized crypto exchange? We currently track 1,011 DeFi platforms actively operating across the market. Together, they generate a combined 24-hour trading volume of $5.27 billion — representing a 14.66% decrease over the past day. DeFi trading now accounts for 6.7% of the total cryptocurrency market volume, with top-performing platforms driving the majority of daily activity.

Markets
#
Trust Score Score
Trust Score is a rating algorithm developed by CoinGecko to evaluate the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, scale of operations, cybersecurity score, and more.
24h Open Interest 24h Int.
The total value of all open derivative contracts (futures and perpetuals) on the exchange in the last 24 hours. It indicates market activity and trader engagement.
24h Trading Volume 24h Vol.
Trading volume adjusted by CoinGecko’s methodology to provide a more accurate representation of an exchange’s true volume, potentially filtering out any artificial or inflated volume. This is different from the raw “24H volume,” which is the total trading volume reported by the exchange without any adjustment.
Perpetuals Perpetuals
The total volume of perpetual contracts traded on the exchange in the last 24 hours. Perpetuals are futures contracts without an expiry date.
Futures Futures
The total volume of standard futures contracts (with an expiration date) traded on the exchange in the last 24 hours.
Markets
Number of markets that are available on the exchange.
30d Visits
Data sourced from SimilarWeb
1
Uniswap V3 (BSC)
Uniswap V3 (BSC)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$1,479,633,770.0 $1.48B
131.94%
Perpetuals
Futures
265
92.26M
2
Uniswap V3 (Ethereum)
Uniswap V3 (Ethereum)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$975,379,788.0 $975.38M
29.84%
Perpetuals
Futures
1762
92.26M
3
Uniswap V3 (Arbitrum One)
Uniswap V3 (Arbitrum One)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$574,968,395.0 $574.97M
43.06%
Perpetuals
Futures
415
92.26M
4
Raydium (CLMM)
Raydium (CLMM)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$295,384,156.0 $295.38M
52.44%
Perpetuals
Futures
693
44.16M
5
PancakeSwap V3 (Base)
PancakeSwap V3 (Base)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$147,699,105.0 $147.7M
-18.65%
Perpetuals
Futures
92
65.93M
6
Hyperliquid
Hyperliquid
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$124,363,583.0 $124.36M
-60.78%
Perpetuals
Futures
43
4.84M
7
Cetus
Cetus
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$100,870,846.0 $100.87M
92.65%
Perpetuals
Futures
233
5.13M
8
PancakeSwap V3 (Arbitrum)
PancakeSwap V3 (Arbitrum)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$82,066,936.0 $82.07M
1.41%
Perpetuals
Futures
77
65.93M
9
Uniswap V3 (Polygon)
Uniswap V3 (Polygon)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$78,730,683.0 $78.73M
94.93%
Perpetuals
Futures
460
92.26M
10
Uniswap V2 (Ethereum)
Uniswap V2 (Ethereum)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$74,792,843.0 $74.79M
8.97%
Perpetuals
Futures
3024
92.26M
11
Shadow Exchange
Shadow Exchange
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$58,077,780.0 $58.08M
91.73%
Perpetuals
Futures
70
1.15M
12
PancakeSwap (v2)
PancakeSwap (v2)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$47,637,353.0 $47.64M
17.33%
Perpetuals
Futures
2695
65.93M
13
Aerodrome (Base)
Aerodrome (Base)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$44,282,209.0 $44.28M
3.44%
Perpetuals
Futures
365
10.65M
14
Bluefin
Bluefin
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$33,972,733.0 $33.97M
-51.41%
Perpetuals
Futures
52
1.83M
15
Balancer V2
Balancer V2
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$23,901,998.0 $23.9M
126.17%
Perpetuals
Futures
184
3.8M
16
Quickswap (v3)
Quickswap (v3)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$22,027,364.0 $22.03M
0.96%
Perpetuals
Futures
131
8.71M
17
Kodiak V3
Kodiak V3
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$21,040,807.0 $21.04M
88.19%
Perpetuals
Futures
63
896.52K
18
PancakeSwap V3 (Ethereum)
PancakeSwap V3 (Ethereum)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$20,209,055.0 $20.21M
208.22%
Perpetuals
Futures
55
65.93M
19
SwapX Algebra
SwapX Algebra
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$20,132,302.0 $20.13M
393.78%
Perpetuals
Futures
34
332.67K
20
Quickswap
Quickswap
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$18,938,002.0 $18.94M
-56.05%
Perpetuals
Futures
338
8.71M
21
Uniswap V3 (Optimism)
Uniswap V3 (Optimism)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$16,141,676.0 $16.14M
61.41%
Perpetuals
Futures
150
92.26M
22
Osmosis
Osmosis
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$13,692,083.0 $13.69M
80.37%
Perpetuals
Futures
344
9.91M
23
Beets (Sonic)
Beets (Sonic)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$13,330,868.0 $13.33M
284.74%
Perpetuals
Futures
64
824.38K
24
Wagmi (Sonic)
Wagmi (Sonic)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$11,584,918.0 $11.58M
396.45%
Perpetuals
Futures
26
599.72K
25
HyperSwap V3
HyperSwap V3
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$11,079,222.0 $11.08M
-63.06%
Perpetuals
Futures
90
341.63K
26
Velodrome Finance Slipstream (Ink)
Velodrome Finance Slipstream (Ink)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$10,930,076.0 $10.93M
64.45%
Perpetuals
Futures
6
2.92M
27
SushiSwap V3 (Base)
SushiSwap V3 (Base)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$8,280,047.0 $8.28M
-29.19%
Perpetuals
Futures
35
12.98M
28
Alien Base V3
Alien Base V3
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$7,021,719.0 $7.02M
116.54%
Perpetuals
Futures
28
703.72K
29
Lynex
Lynex
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$6,456,757.0 $6.46M
52.28%
Perpetuals
Futures
27
1.3M
30
Sushiswap V3 (Arbitrum)
Sushiswap V3 (Arbitrum)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$6,440,818.0 $6.44M
8.65%
Perpetuals
Futures
30
12.98M
31
Uniswap V3 (Celo)
Uniswap V3 (Celo)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$5,678,020.0 $5.68M
16.21%
Perpetuals
Futures
55
92.26M
32
Saucerswap V2
Saucerswap V2
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$5,606,613.0 $5.61M
48.73%
Perpetuals
Futures
30
3.32M
33
PulseX
PulseX
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$5,472,740.0 $5.47M
53.97%
Perpetuals
Futures
67
7.26M
34
Katana V3
Katana V3
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$4,207,172.0 $4.21M
55.78%
Perpetuals
Futures
35
8.51M
35
Balancer V2 (Gnosis)
Balancer V2 (Gnosis)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$3,759,404.0 $3.76M
205.17%
Perpetuals
Futures
43
3.8M
36
SunSwap V2
SunSwap V2
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$3,482,914.0 $3.48M
-75.95%
Perpetuals
Futures
81
2.76M
37
Ekubo (Starknet)
Ekubo (Starknet)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,857,687.0 $2.86M
42.96%
Perpetuals
Futures
79
1.57M
38
Velodrome Finance Slipstream (Soneium)
Velodrome Finance Slipstream (Soneium)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,785,580.0 $2.79M
24.12%
Perpetuals
Futures
11
2.92M
39
PulseX V2
PulseX V2
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,723,190.0 $2.72M
47.6%
Perpetuals
Futures
219
7.26M
40
Oku Trade (Sei V2)
Oku Trade (Sei V2)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,624,155.0 $2.62M
87.25%
Perpetuals
Futures
6
1.49M
41
Velodrome Finance Slipstream (Unichain)
Velodrome Finance Slipstream (Unichain)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,200,421.0 $2.2M
-6.95%
Perpetuals
Futures
5
2.92M
42
Metal X
Metal X
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$2,009,502.0 $2.01M
-7.17%
Perpetuals
Futures
10
651K
43
Minswap
Minswap
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$1,768,242.0 $1.77M
-14.89%
Perpetuals
Futures
135
6.7M
44
Velodrome Finance V2 (Optimism)
Velodrome Finance V2 (Optimism)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$1,350,647.0 $1.35M
44.33%
Perpetuals
Futures
127
2.92M
45
Maverick Protocol V2 (Base)
Maverick Protocol V2 (Base)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$957,133.0 $957.13K
-68.22%
Perpetuals
Futures
12
2.78M
46
WAGMI (Iota EVM)
WAGMI (Iota EVM)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$775,427.0 $775.43K
598.44%
Perpetuals
Futures
3
925.04K
47
WAGMI (Kava)
WAGMI (Kava)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$441,378.0 $441.38K
222.46%
Perpetuals
Futures
12
925.04K
48
WAGMI (Metis)
WAGMI (Metis)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$372,441.0 $372.44K
205.43%
Perpetuals
Futures
7
925.04K
49
Oku Trade (Taiko)
Oku Trade (Taiko)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$31,258.0 $31.26K
299.79%
Perpetuals
Futures
3
1.49M
50
CrowdSwap (Polygon)
CrowdSwap (Polygon)
6.0
24h Open Interest
$0.0 $0
24h Trading Vol.
$12,957.0 $12.96K
819.27%
Perpetuals
Futures
2
574.42K
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Where to Buy & Sell Bitcoin and Crypto on a Decentralized Exchange (DEX)

As the cryptocurrency space continues to evolve, decentralized exchanges (DEXs) have become a preferred choice for users seeking greater privacy, control, and transparency. Unlike centralized platforms, a decentralized exchange enables peer-to-peer crypto trading directly from users’ wallets, without relying on intermediaries or custodial services.

For those looking to explore decentralized finance (DeFi), DEXs provide a gateway to buy crypto DEX platforms or sell crypto decentralized exchanges assets while maintaining full ownership of your private keys and funds.

 

How to Choose the Best DEX Exchanges for Secure Trading

Selecting the best DEX exchanges requires understanding how different protocols work. Most DEXs are built on blockchain networks such as Ethereum, BNB Chain, Solana, or Avalanche, and use smart contracts to execute trades automatically.

Key features of top-performing DEXs include:

  • High liquidity through automated market makers (AMMs)
  • Low fees and slippage
  • Non-custodial trading (you retain your assets in your own wallet)
  • Support for multiple token pairs, including wrapped assets and stablecoins
  • Integration with Web3 wallets like MetaMask or Trust Wallet

Unlike centralized exchanges, there’s no sign-up process — you simply connect your wallet and begin trading. This seamless process is one of the major reasons users prefer to buy and sell Bitcoin and crypto via DEXs.

 

Bitcoin DEX Exchanges: Can You Trade BTC on Decentralized Platforms?

While most DEXs are built around Ethereum-compatible assets, it is still possible to access Bitcoin DEX exchanges using wrapped tokens like WBTC or renBTC. These are ERC-20 representations of Bitcoin that can be traded on Ethereum-based DEXs.

If you’re specifically looking for Bitcoin decentralized exchanges, platforms like Thorchain and AtomicDEX support native Bitcoin trading without the need for token wrapping. These protocols use cross-chain technology to enable true decentralized swaps between Bitcoin and other assets.

As a result, users who want to buy crypto DEX style or hold BTC in a decentralized wallet can still engage with the broader DeFi ecosystem without sacrificing decentralization or custody.

 

Selling Crypto on Decentralized Exchanges: What You Need to Know

To sell crypto decentralized exchanges, you simply reverse the trading process — connect your wallet, choose the pair, and execute the swap. There’s no need to withdraw funds, since your assets never leave your wallet to begin with.

Keep in mind the following tips for a smoother experience:

  • Monitor gas fees (especially on Ethereum) and choose low-congestion times
  • Use slippage control to avoid major price impact
  • Be cautious of low-liquidity pools that could affect trade execution

Since DEXs don’t require identity verification, they don’t report transactions to tax authorities. However, users are still responsible for tracking gains and reporting them in jurisdictions where crypto income is taxable.

 

Why Decentralized Exchanges Are Gaining Popularity

Privacy, autonomy, and accessibility are driving the growth of decentralized platforms. In regions with strict regulations or limited banking access, a decentralized exchange offers an open and borderless way to access the global crypto market.

DEXs also empower users to participate in governance, liquidity provision, yield farming, and token launches — all without surrendering control to centralized intermediaries.

Whether you’re a DeFi veteran or a crypto newcomer, using one of the best DEX exchanges allows you to buy and sell Bitcoin and crypto directly from your wallet, with full transparency and minimal risk of censorship or lockouts.

Show more…

FAQ about decentralized crypto exchanges

What is a decentralized exchange?

A decentralized exchange (DEX) is a type of cryptocurrency exchange that allows users to trade digital assets directly with one another without the need for a central authority or intermediary. Unlike centralized exchanges (CEXs), where the platform holds your funds and executes trades on your behalf, DEXs enable peer-to-peer (P2P) transactions using smart contracts on the blockchain. This means users retain control of their private keys and funds throughout the trading process, adding an extra layer of security and privacy. 

Popular decentralized exchanges include platforms like Uniswap, PancakeSwap, and SushiSwap, all of which are built on various blockchain networks such as Ethereum or Binance Smart Chain.

What are the advantages of decentralized crypto exchanges?

Decentralized crypto exchanges offer several advantages over their centralized counterparts:

  1. Security: Since users retain control of their private keys and funds, DEXs reduce the risk of hacking that centralized exchanges may face. There’s no central point of failure, which makes them more secure in many cases.
  2. Privacy: DEXs typically do not require identity verification (KYC) or personal information, giving users more anonymity compared to centralized platforms.
  3. Ownership of Funds: Users hold their assets in their wallets rather than depositing them on an exchange, reducing the risk of losing funds in case of a security breach.
  4. Wide Asset Access: DEXs often list new or smaller cryptocurrencies that are not available on centralized exchanges, giving users access to a broader range of tokens.
  5. Global Accessibility: DEXs are accessible to anyone with an internet connection and a compatible wallet, regardless of geographical location or regulatory restrictions.

However, DEXs may have disadvantages, such as higher transaction fees during periods of network congestion, slower processing speeds, and lower liquidity compared to centralized platforms.

How do I get started with a decentralized wallet?

To begin using a decentralized exchange, you’ll need a decentralized wallet that can interact with blockchain-based applications. Here’s a simple guide to get started:

  1. Choose a Wallet: Popular decentralized wallets include MetaMask, Trust Wallet, and Coinbase Wallet. These wallets support multiple blockchains and allow you to interact with decentralized applications (dApps) and exchanges.
  2. Download and Install: Download the wallet app (mobile or browser extension) and install it on your device. Follow the setup instructions to create a new wallet.
  3. Backup Your Seed Phrase: During wallet creation, you’ll be given a seed phrase (a sequence of words) that serves as a recovery key. Store this securely, as it’s the only way to recover your wallet if you lose access.
  4. Fund Your Wallet: Transfer cryptocurrency to your decentralized wallet from another wallet or exchange. Ensure you have the correct tokens and enough funds to cover network fees (usually paid in the native token of the blockchain, e.g., ETH for Ethereum-based DEXs).

Connect to a DEX: Once your wallet is set up and funded, go to a decentralized exchange platform like Uniswap or PancakeSwap. Connect your wallet by selecting the “Connect Wallet” button, and you’ll be ready to start trading directly from your wallet.

Do I need to pay tax on decentralized exchange transactions?

Yes, even though decentralized exchanges don’t typically require identity verification, users are still responsible for reporting and paying taxes on any profits made from trading cryptocurrencies. In most countries, cryptocurrencies are treated as taxable assets, and transactions such as selling, swapping, or converting one cryptocurrency into another are considered taxable events.

The amount of tax you owe will depend on the laws in your country and the type of transaction. For example, in the US, cryptocurrencies are taxed as property, so capital gains tax may apply when you sell or trade cryptocurrencies on decentralized exchanges. Make sure to keep accurate records of your trades, including the date, amount, and value of each transaction to report to tax authorities properly.

Do decentralized exchanges report to the IRS?

Decentralized exchanges do not typically report to the IRS or other tax authorities because they do not require personal identification or collect user data. DEXs operate through smart contracts on the blockchain, which means they don’t have centralized control or access to users’ personal information.

However, this does not absolve users from their tax obligations. In the US, for example, the IRS has been actively enforcing cryptocurrency tax reporting, and individuals are required to report their crypto earnings, even from decentralized platforms. 

The responsibility of tracking transactions and filing the appropriate taxes lies with the user. Many tax reporting tools are available that can integrate with decentralized wallets and exchanges to help with this process, ensuring you stay compliant with local tax regulations.

While DEXs offer greater privacy, it’s important to remain aware of your legal responsibilities regarding cryptocurrency transactions, especially when it comes to taxation.