Where to Exchange Ethereum Anonymously

By | May 12, 2024

What is the difference between DEX and CEX

The trading functionality of centralized and decentralized platforms is outwardly similar, but this is where their similarity ends. The centralized exchange stores and uses customer funds for its own purposes and, upon request, executes requests for the exchange or withdrawal of assets.

Users do not have private keys, the platform owns them. Such exchanges are a link between fiat and digital currencies. On centralized platforms, it is possible to convert crypto to fiat and vice versa.

You can easily exchange 0.04 eth to usd and withdraw dollars to a bank card. To access the functionality of the site, you need to create an account and often go through verification. To do this, the site requests the client’s personal data, and this is contrary to the principles of anonymity of cryptocurrencies. If privacy is important to you, you should choose a decentralized exchange.


Decentralized sites do not store user funds and do not require the disclosure of personal data. A special protocol is used to match orders, and funds are transferred between wallets using smart contracts.

DEX is classified according to two main criteria:

  • Location of transactions. Transactions can be made on the main blockchain or on a third-party one, with the subsequent transfer of transaction data to the main chain.
  • How to execute transactions. Some DEXs use order books, such as the CEX. On some, it is being replaced by an automatic market maker (AMM).

DEX Selection Criteria

Among the already quite numerous DEXs, the best one will be the one that best suits your needs. The main principles and criteria for choosing a trading platform are universal for centralized and decentralized platforms:

  • Safety. Decentralized sites do not store client funds or personal data. However, implicit protocol vulnerabilities can cause losses. Look for information about the fact and result of the audit of the protocol by independent companies.
  • Commission size.
  • Support for the necessary blockchains and trading pairs.
  • Convenience of the interface.

Uniswap DEX

Uniswap is a decentralized protocol for the exchange of Ethereum and ERC-20 tokens. Instead of an order book, the platform uses liquidity pools. Moreover, the active development of the platform has greatly contributed to the popularity of this method.

In addition to exchanging tokens, users can create their own liquidity pools, view their share in the pool, manage the pool, etc. for adding funds to the pool, liquidity providers are rewarded in UNI tokens.

The platform supports 1200+ tokens and 2800+ trading pairs.

Sushiswap DEX

This is a decentralized exchange protocol based on AMM. Just like on Uniswap, users create a liquidity pool by providing ETH or ERC-20 tokens. Liquidity providers are rewarded in SUSHI tokens and have a say in project governance. In addition to Sushiswap exchange, management of liquidity pools and rewards for investing assets, the site provides the opportunity for staking.

Sushiswap DEX supports 64 cryptocurrencies and 78 trading pairs.

Balancer DEX

Balancer is another protocol on the Ethereum blockchain based on AMM. Users can create liquidity pools or replenish existing ones. Liquidity providers are rewarded in BAL tokens, which are earned as a percentage of the trading fees of other pool members.

Balancer DEX supports 150+ cryptocurrencies and 200+ trading pairs.


LetsExchange is an instant cryptocurrency exchange service. You do not need to register an account to use the service. You just need to fill in the exchange widget step by step and specify the wallet address. After selecting the desired exchange direction from 700+ available and confirming the application, the search for the most profitable deal, the transaction and the crediting of coins are performed automatically.

DEX and instant exchange services have one common drawback. They do not support fiat currencies. To exchange even a small amount like 0.003 eth to usd, you will have to use CEX services.



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