5 Hybrid Cryptocurrency Exchanges (HEXs) Worth Trying Out in 2021
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 borrows aspects from both exchanges’ styles to provide you with a unique combination of options not found anywhere else in the market.
The HEX concept is still in its fledgling state, but some platforms are beginning to emerge within the market. These platforms incorporate features like a non-custodial approach with the reliability of centralized platforms. Many of these platforms are still new to the market. For these reasons, you must exercise caution until you have built up confidence in the technology and the company standing behind it. With that in mind, here are the top 5 hybrid exchanges worth trying in 2021.
Paymium created Blockchain.io in 2018. Unlike the competition, Paymium has operated a successful centralized exchange since 2011. The developers have leveraged this experience to bring the market a hybrid exchange that provides a DEX’s privacy with the security of a regulated structure.
Blockchain.io is an EU-based hybrid exchange that is registered and compliant within the EU. The network features a non-custodial wallet for users, encrypted cold storage for community funds, and cryptographic proof of reserves. In this way, Blockchain.io is geared to serve both individual and institutional investors.
This HEX includes many popular features found on the top CEXs, such as advanced market charting tools and a nice selection of the top-performing coins. Additionally, the network supports ICOs and token listings. Blockchain.io integrates cross-chain functionalities in the form of atomic swaps to further your protection against loss and increase the network’s overall efficiency.
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 the use of Masternodes to improve scalability and responsiveness. While the project is still in its infancy, developers have stated that the network will support the creation and trading of 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 is the case with CEXs.
Additionally, the platform conducts the trading process off-chain before completing the transactions’ final aspects. Notably, Eidoo is an Ethereum-based HEX. Users have access to the entire ERC-20 catalog. This strategy provides users with access to the top DeFi coins at this time.
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. The network regularly undergoes third-party audits of its coding and funds as well. All of these factors make Eidoo an up-and-coming option in the HEX sector.
The hybrid exchange JOYSO is an Asian-based platform that continues to see growing adoption. According to company executives, the platform was the world’s first hybrid exchange available to the public. JOYSO provides a complete suite of blockchain-based products to its clients ranging from ICO, IEO, and STO features, all the way to white label options for those interested in hosting their own hybrid exchange based on its tech.
Uniquely, JOYSO is operating two-hybrid exchanges at this time. The first exchange, JOYSO, is an Ethereum-based platform that serves the greater Asian ERC community. The second HEX, JOYSO-Tron, is focused on the budding TRON ecosystem. This dual approach allowed JOYSO to gain a valuable foothold in both networks before most people even knew hybrid exchanges existed.
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 choose to cash out your crypto in twenty-six different fiat options. 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.
5 Hybrid Exchanges (HEXs) Worth Trying Out in 2021
The HEX sector is still so new that the options are limited. However, these platforms have taken the lead in terms of development and options. Hybrid exchanges offer some unique benefits that 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 own research) and only stick with reputable HEXs to avoid unnecessary losses. If you do that, you are sure to learn a lot and probably secure some healthy ROIs as you venture into the emerging world of HEXs.