7 Tools for Crypto Investors

Since the early days of bitcoin, exchanges have served as a communication channel for buyers and sellers of cryptocurrencies. Without these exchanges attracting users from all over the world, the cryptocurrency market would have low liquidity and could not offer a fair price for assets.

Traditionally, this area has been dominated by centralized players. However, with the rapid development of technology, more and more tools for decentralized trading appeared. In this article we will tell you about some of the most interesting ones.

What is Nami Wallet

Nami Wallet is a wallet browser extension for interacting with the Cardano blockchain. Nami Wallet is already a working product, is a browser extension wallet based on Chrome, can be downloaded from the Google Chrome store here, and already has over 3,000 users.

Nami also allows you to create sub-accounts from a single seed phrase. All accounts except the first one are hidden from Daedalus/Yoroi. The authors do not recommend using Nami and Daedalus/Yoroi at the same time, but using a seed phrase to move from one wallet to another. If you wish to migrate from Daedalus/Yoroi, you must send all your funds to the address you see in Nami after importing the seed.

What is Cardax

Cardax is a decentralized exchange powered by the EAMM protocol. It aims to provide liquidity to projects that issue native tokens on Cardano.

Cardax is a decentralized exchange that allows users to trade any other Cardano token with ADA. The Cardax team plans to close the gaps that currently exist in the Cardano ecosystem. Cardax hopes to add Cardano to the company through more possible use cases. This is done to increase acceptance in the DeFi field.

What is DOEX

The DOEX decentralized exchange is a blockchain platform that records transactions and assets in an immutable ledger, which increases its efficiency, transparency and reliability.

To automate digital transactions with assets between users of DEX wallets, smart contracts are used. Moreover, DOEX does not need a central server that stores records of users, transactions and asset movements, and this reduces the risk of cyber attacks and unauthorized access.

DOEX users remain completely anonymous, data and transactions in the blockchain are protected by encryption, and the identification of counterparties is reduced to the wallet address.

What is ADAX

ADAX is an automated market maker that serves users of the Cardano network with the aim of revolutionizing transactions.

The project was created to enable traders to trade seamlessly on the Cardano network. ADAX has become a powerful trading platform with its robust token exchange mechanisms, broader repositioning, and non-fungible token (NFT) trading.

Notably, ADAX is an automated liquidity protocol that facilitates transactions in a completely decentralized and storage-free way within the Cardano ecosystem. ADAX does not have an order book, which helps to reduce network transactions and transaction costs.

What is MeowSwap

MeowSwap is an exchange that guarantees freedom and fair resolution of all user issues. The security of funds on OpenANX is based on three components:

  • First, the optional deposit is on the side of the asset gateway (trading provider)
  • Secondly, credit risk is determined within the system, so the participant himself chooses where and under what conditions he trades

MeowSwap combines L2’s proprietary scaling technology in conjunction with our DEX to finally offer the only working trading solution fully powered by Cardano.

What is Daedalus

The Daedalus wallet is currently the only wallet for storing the Cardano (ADA) cryptocurrency. If you are the owner of this currency, then you will have a question where to store it.

Daedalus is an official wallet created to store and conduct all transactions with Cardano: buying, selling, exchanging. This is a complete, secure program that allows you to work with Bitcoin and Ethereum in addition to Cardano.

What is AdaSwap

AdaSwap is a DEX developed from the Cardano network with the aim of helping the Cardano network become an inclusive Defi protocol.

AdaSwap will be Cardano’s first native exchange, providing liquidity to projects building their own assets and a thriving ecosystem.

The platform will operate as an automated market maker (AMM) that provides decentralized and non-custodial market creation for liquidity providers, as well as a utility built on the Cardano blockchain infrastructure.