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What do you do when you want the deep liquidity of centralized exchanges (CEXs) but require the security and confidentiality of decentralized exchanges (DEXs)? Some savvy developers from across the globe believe they have the answer – Hybrid Exchanges (HEXs). HEXs borrow aspects from both exchanges’ styles to provide you with a unique combination of options not found elsewhere in the market.
The HEX concept is still fled, but some platforms are beginning to emerge. These platforms incorporate features like a non-custodial approach with the reliability of centralized platforms. However, many of these platforms are still new to the market. For these reasons, you must exercise caution until you have confidence in the technology and the company standing behind it. With that in mind, here are the top 5 hybrid exchanges worth trying in 2023.
The NEXT.exchange is another promising HEX that is worth taking a look at. The platform is registered in the Netherlands and offers users full transparency in company information and executive staffing. You can even communicate with developers and execs directly via their Linkedin pages.
In terms of HEXs, NEXT offers some competitive advantages. For one, the network integrates a fiat gateway that simplifies onboarding for new users. Additionally, the platform introduces a new blockchain to streamline its activities. The NEXT.chain provides DEX capabilities such as community governance and hybrid mining.
Additionally, the new blockchain supports using Masternodes to improve scalability and responsiveness. While the project is still in its infancy, developers have stated that the network will support creating and trading various assets created and deployed on its native blockchain.
Eidoo is a Swiss-based HEX that provides users with a high level of transparency thanks to proprietary technologies such as using a centralized server for matching user-signed orders. Uniquely, Eidoo employs a new strategy to achieve its goals. Specifically, all user funds are kept in personal segregated wallets versus large centralized wallets, as with CEXs.
Additionally, the platform conducts the trading process off-chain before completing the transactions’ final aspects. Notably, Eidoo is an Ethereum-based HEX. As a result, users have access to the entire ERC-20 catalog. This strategy provides users with access to the top DeFi coins.
Another draw for Eidoo is its unique fee structure. There are no fees for makers on the platform. Eidoo has also taken some steps to protect its traders better. For example, all updates must be manually approved before installation. In addition, the network regularly undergoes third-party audits of its coding and funds. All of these factors make Eidoo an up-and-coming option in the HEX sector.
PryvateX seeks to become the one-stop solution for hybrid exchange users. The network offers many helpful options, such as an OTC desk trading feature for large investors. Keenly, PryvateX users enjoy a nice mix of features from both sides of the exchange aisle. As the name implies, the exchange doesn’t require lengthy registrations or personal information.
Additionally, the network supports an excellent selection of fiat currencies. You can even cash out your crypto in twenty-six different fiat options. Furthermore, PryvateX offers users the most popular coins in terms of coin selection, such as Bitcoin and Ethereum. The developers have also stated that an easy-to-use mobile app is in the works.
3 Hybrid Exchanges (HEXs) Worth Trying Out
The HEX sector is still so new that the options are limited. However, these platforms have taken the lead in development and options. In addition, hybrid exchanges offer unique benefits you won’t find anywhere else in the market. For these reasons, there’s a good chance that you will see many more HEXs enter service in the coming months. For now, these platforms are the top performers and offer the most bang for your crypto.
As always, DYOR (do your research) and only stick with reputable HEXs to avoid unnecessary losses. If you do that, you will learn a lot and probably secure some healthy ROIs as you venture into the emerging world of HEXs.