Home » Five video tutorials to learn how to use decentralized exchange houses

Five video tutorials to learn how to use decentralized exchange houses

intercambios descentralizados bitcoin ethereum
intercambios descentralizados bitcoin ethereum

If you have already decided on decentralized exchange houses (DEX), here we tell you how to operate with these platforms. At the same time, if you feel like you haven’t decided on a particular one, here are five options for you to choose from.

Decentralized exchange offices have a digital currency exchange model in which the control of funds and the negotiation are directly in the hands of the users. Today, most cryptocurrency trading is done through centralized platforms, which request personal information from their users, are intermediaries and exercise control over the funds.

Among the benefits that decentralized exchange houses offer is the fact that they revolve around the philosophy of eliminating intermediaries, With a peer-to-peer interaction model, without permission and without central authorities. .

Let’s look at the features of some of these platforms as we learn how to use them.

How to use Bisq to buy or sell digital currency anonymously

Bisq breaks with the traditional concept of exchange house. It does its best to make your brand privacy-oriented as they make it clear on your corporate blog, as it is a P2P (person-to-person) exchange site, with a Tor-type network encryption (Anonymity Network), to hide the computer’s IP address.

When Bisq is used, the exchange is done through a direct relationship between the seller and the buyer, without going through a central exchange wallet. This can decrease the usual risk of losing cryptocurrencies than when using a traditional exchange provider.

A second notable advantage is the privacy that this service offers, then it is not necessary to register an account, nor provide the data to a service provider with the aim of buying or selling digital currency. Business history and transaction details are not recorded or stored by a central service provider.

In addition to explaining the advantages offered by the Bisq platform, this tutorial shows, in detail, the steps to follow to download the software and be prepared to perform a private exchange.

How to sell bitcoins and litecoins in Hold Hold

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

Among the advantages that Hold Hold offers is security as is valid for transactions under multi-signature contracts Pay-to-ScriptHash (P2SH).

Thus, the funds exchanged remain in the escrow (Security Deposit Agreement) until the parties agree to release with their corresponding signatures, so that they are never manipulated by the company.

In addition, Hold Hold enables support for the Bitcoin addresses they use 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 tutorial guides you through learning how to use Hold Hold in a practical and easy way.

How to use Uniswap to swap any ERC20 symbol

Uniswap is an Ethereum-based exchange marketplace that is designed for facilitate automatic exchange between any ERC20 symbol in Ethereum and vice versa, without intermediaries and with a low commission.

Uniswap is completely in the blockchain, and people can make use of the protocol as long as they have MetaMask installed as we are talking about an Ethreum DEX so we need this extension to interact with Uniswap.

Another feature of Uniswap is that it facilitates the exchange of any symbol, thanks to the fact that any user can open a new exchange market, Adding its own ERC20 symbol to the catalog through an exchange contract that the platform allows to generate.

too it is possible to use a concept of the trading called arbitration. In other words, users will seek to benefit from the different exchange rates of the different existing markets – whether centralized or decentralized – in which this particular ERC20 / ETH pair is quoted, making the exchange rate self-regulating without any type 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 trade on this platform, as well as add and remove liquidity in a market and be able to create an exchange market.

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

LocalBitcoins allows the exchange of bitcoins for local currencies. The peculiarity of this platform is that it is its users who generate the exchange movement, Create payment prices and market volume.

It is a service that brings more value to the user, as it is open to all countries and that accepts all available forms of payment.

It has a book of purchases and sales, where the country, the method of payment and the amount are selected, in addition it shows insignia of confidence and the percentage of transactions done in each entrance of the postulating users.

Buy and sell ethers at LocalEthereum

LocalEthereum is another of the decentralized exchange houses for P2P exchange, which allows the purchase and direct sale of ethers (ETH).

From this platform, you can find various forms of payment, from bank transfers, bank deposits and international transfers, through payment systems such as PayPal, Western Union, Skrill, gift cards And others.

The contracts on which the negotiations on LocalEthereum are based are completely decentralized and native to Ethereum’s own network, which means that no authority or third party intervenes in the way the negotiation is set up between the parties.

Communication between traders is end-to-end encrypted, meaning there is no way to know the content of what the parties are communicating. For this, a kind of key or coded system is created that is generated when it is accepted to initiate a purchase or sale and is destroyed when it materializes.

For its part, the only way in which LocalEthereum can access this communication between the parties is for one of them to expressly authorize it, as may happen in the event of a dispute.

In this tutorial you will learn how to register with LocalEthereum, understand the platform, buy and sell ethers and exchange them for fiat currency from anywhere in the world.

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