Hybrid Cryptocurrency Exchanges
This article defines hybrid cryptocurrency exchanges (HEXs), states the benefits of using HEXs, and concludes with a list of some HEXs.
Definition of hybrid cryptocurrency exchanges
Hybrid cryptocurrency exchanges are online cryptocurrency platforms that merge centralized characteristics of CEXs (such as liquidity and functionality) together with decentralized characteristics of DEXs (such as the higher level of security and anonymity) and allow clients to trade in a peer-to-peer manner while it—HEXs—provides confirmations and records transactions on the blockchain network.
Many people believe that HEXs are the cryptocurrency exchanges of the future because they aim at combining the advantages of both CEXs and DEXs, thereby providing clients with the best services that stem from the characteristics of both CEXs and DEXs.
Hybrid cryptocurrency exchanges ensure that there is higher liquidity, no fraudulent practices and hacking, and trading can be carried out in a manner that is smoother and safer than what is being experienced on decentralized cryptocurrency exchanges.
Major benefits of using hybrid cryptocurrency exchanges
1. It addresses problems or issues that are peculiar to both CEXs and DEXs, and makes it possible for clients to trade on both centralized and decentralized cryptocurrency exchange platforms.
2. Clients have full custody and control of their cryptocurrencies, even if middlemen or third parties are allowed to regulate the trading or exchange of cryptocurrencies. Atomic swaps make it possible for clients to exchange cryptocurrencies directly between each other, as it is being done on DEXs.
3. Instead of being stored in hot wallets (online wallets), clients’ cryptocurrencies or funds are stored in cold wallets (offline wallets) which are not connected to the internet; hence; clients’ cryptos or funds are safe from cyber-attacks.
4. Hybrid cryptocurrency exchanges comply with different regulations on cryptocurrencies and ensure that clients have the utmost level of privacy.
Examples of top hybrid cryptocurrency exchanges
1. Qurrex: https://www.qurrex.com
2. NEXT: https://next.exchange/
3. Legolas Hybrid Exchange: https://legolas.exchange/
4. Eidoo Hybrid Exchange: https://eidoo.io/crypto-exchange
5. Nash: https://nash.io/
6. Joyso: https://joyso.io/