Crypto exchanges are essential to the digital asset market, enabling users to buy, sell, and swap cryptocurrencies. The exchange landscape has grown significantly, offering platforms suited to various trading styles and experience levels. Today, crypto exchanges fall into two main categories: centralized exchanges (CEXs) and decentralized exchanges (DEXs), each providing a unique approach to digital asset trading.
Centralized exchanges are managed by companies that serve as intermediaries between buyers and sellers. They oversee user accounts, hold customer funds, and provide features such as customer support, fiat on-ramps, advanced trading tools, and high liquidity. Their user-friendly design appeals to both new and experienced traders, though users must trust the platform to protect their assets and process transactions fairly.
Decentralized exchanges operate without a central authority, using smart contracts to enable direct trades between users. Traders retain control of their assets by connecting their own wallets, eliminating the need to entrust funds to a third party. Although DEXs may require more familiarity with wallets and blockchain networks, they are increasingly popular among users who prioritize self-custody, transparency, and broader access to on-chain assets.
As decentralized finance matures, DEXs now offer features beyond basic token swaps, including cross-chain trading, concentrated liquidity, perpetual futures, and advanced trading tools. That said, here are the top 12 decentralized exchanges to consider in June 2026.
1. dYdX
For traders interested in perpetual futures, dYdX is often one of the first decentralized exchanges that comes up in the conversation. Unlike many DEXs that focus mainly on token swaps, dYdX is built around derivatives trading, giving users access to perpetual contracts, margin trading, and a range of order types that are typically associated with centralized platforms. The difference is that traders can still maintain control of their funds instead of depositing them with an exchange.
Part of dYdX’s appeal lies in how closely the platform resembles a traditional trading venue. Trades are executed through an order book rather than a standard automated market maker model, helping create a more familiar experience for active traders. The platform also offers access to leverage of up to 20x on supported markets, alongside competitive fees and strong liquidity across major trading pairs. For users who want more advanced trading tools without moving away from decentralized finance, dYdX remains one of the more established options in the sector.
2. MEXC
MEXC is a popular cryptocurrency exchange where users can trade thousands of digital assets across many trading pairs. The platform offers spot trading, futures, peer-to-peer transactions, leveraged ETFs, and crypto-earning products. Its large selection of assets is a big plus, especially for traders looking for new or rare tokens. MEXC also has competitive trading fees, and users who hold its native token get extra discounts.
MEXC does not require identity verification for all users, but account features depend on the chosen verification tier. Unverified accounts have lower withdrawal limits, while higher tiers provide additional features and higher transaction allowances. Requirements may vary by jurisdiction and account activity, so users should review the platform’s policies before trading. MEXC also restricts access in certain regions, including the United States, where residents generally cannot use its services.
3. Bybit
Bybit is now one of the biggest cryptocurrency exchanges, drawing in both casual investors and active traders. It started with derivatives but now offers hundreds of cryptocurrencies, as well as spot trading, margin trading, leveraged tokens, and more. Users can also use savings products and liquidity mining, so Bybit has become more than just a place to trade digital assets.
Some traders like Bybit because you can open an account and start trading without KYC verification. Still, unverified accounts have limits, like lower withdrawal amounts and less access to some features. To use things like staking, earn programs, or fiat deposits and withdrawals, you usually need extra verification. The exchange might also ask for identity checks for certain account activities. Like other global exchanges, Bybit is not available everywhere, and people in restricted places, such as the United States, cannot use its services.
4. Balancer
Balancer is one of those DeFi projects that can be a little difficult to place in a single category. While it functions as a decentralized exchange, it also gives users a way to build and manage token portfolios directly on-chain. Instead of being limited to a pool with two assets, users can create pools containing multiple tokens and decide how much weight each asset should have. As prices move, the pool automatically adjusts to maintain those allocations, reducing the need for constant manual rebalancing.
That structure has made Balancer popular among users who want more flexibility than a standard token-swapping platform can provide. Someone holding several assets can gain exposure through a single pool, while liquidity providers earn fees when traders interact with it. The protocol also supports batch swaps, allowing multiple trades to be bundled into one transaction. There is a bit more to learn compared to some of the simpler DEXs on the market, but that’s largely because Balancer is trying to do more than simply facilitate token swaps.
5. PrimeXBT
PrimeXBT is a little different from most exchanges on this list because it isn’t focused solely on crypto. Alongside major cryptocurrencies such as Bitcoin and Ethereum, users can also trade markets like forex, commodities, stock indices, and CFDs. That broader market access may appeal to traders who like the idea of managing different types of positions from a single platform rather than moving between multiple brokers and exchanges.
The platform also allows users to start trading without completing KYC verification, although there are limits attached to unverified accounts. For example, withdrawal and deposit thresholds are lower, and some fiat-related services may not be available. While PrimeXBT places a strong emphasis on user privacy, it can still request identity or source-of-funds verification as part of its compliance procedures when necessary. For traders who are primarily interested in major cryptocurrencies and want access to traditional financial markets at the same time, PrimeXBT offers a somewhat different experience from the typical crypto exchange.
6. CoinEx
CoinEx is one of the exchanges that continues to appeal to users looking for a large selection of cryptocurrencies without immediately requiring identity verification. The platform supports more than 1,300 digital assets, giving traders access to both established coins and smaller projects that may not be available everywhere else. Alongside spot trading, CoinEx also offers margin and futures markets, making it suitable for users with different trading strategies. The exchange also includes earning products for those who prefer to put idle assets to work rather than actively trade.
For users who value privacy, CoinEx allows access to many of its features without mandatory KYC, although there are limits on how much unverified accounts can withdraw. It’s also worth noting that the platform reserves the right to request verification when needed, and additional requirements apply to certain assets, including privacy coins. Trading fees start at 0.2%, with discounts available for holders of the platform’s CET token. While CoinEx remains accessible in many parts of the world, traders should check whether the exchange is available in their region before signing up, as restrictions apply in some jurisdictions, including the United States.
7. Uniswap
Uniswap handles more trading volume than any other decentralized exchange, making it one of the main gateways into DeFi for traders looking beyond centralized platforms. Traders use the platform to swap tokens directly from their wallets, without opening an account or handing custody of their assets to a third party. Over the years, it has become one of the most active decentralized exchanges in the market, thanks in large part to its liquidity and the sheer number of tokens available for trading.
Uniswap started on Ethereum but now works on other networks too, so users have more choices for trading. It is also easier to use now, since people can buy crypto with regular payment methods. While beginners may need some time to get used to self-custody and wallet-based trading, Uniswap becomes simple to use once they learn the basics, giving access to many on-chain assets.
8. SushiSwap
SushiSwap began as a fork of Uniswap, but over the years, it has turned into a much broader DeFi platform. While token swaps remain a major part of the platform, Sushiswap now offers features that let users earn returns on their crypto rather than just trade it. As a result, SushiSwap has maintained a presence in the DEX market despite competition from a growing number of rivals.
Yield farming is still one of SushiSwap’s main attractions. Liquidity providers earn part of the trading fees and can get extra rewards through different pools and farming programs. SushiSwap works on several blockchain networks, so users have more options than on platforms limited to one network. While trading fees can be higher than on some other platforms, many users are drawn to SushiSwap’s community-focused approach and the way the SUSHI token lets them take part in decision-making.
9. HODL HODL
HODL HODL is designed for people who want to buy and sell Bitcoin directly with others, instead of using a regular exchange. It works as a peer-to-peer marketplace, connecting buyers and sellers and using a multi-signature escrow system to keep trades secure. With this approach, users always control their own funds during the trade, since they never have to deposit money with the platform.
One of the reasons HODL HODL has attracted attention over the years is its stance on privacy. The platform does not require mandatory KYC verification, and users are not asked to hand over personal documents before trading. There are still some limits around trade volume, active offers, and contracts, but there are no withdrawal restrictions since the platform never takes custody of user funds in the first place. For Bitcoin holders who prefer a more direct and self-custodial trading experience, HODL HODL offers an alternative to the account-based model used by most exchanges.
10. Osmosis
Osmosis is best known for trying to ease the movement and trading of assets across different blockchains within the ecosystem. Built on the Cosmos blockchain, the exchange was designed with cross-chain activity in mind. This allows users to swap assets from different Cosmos-based chains without relying on multiple platforms or complicated workarounds.
The platform has gained a following for its straightforward interface and relatively low transaction costs. Swaps are generally quick, and liquidity is particularly strong for assets within the Cosmos ecosystem. Although Osmosis remains closely tied to Cosmos and may not offer the same reach as some larger multi-chain DEXs, it has become a popular option for users who regularly move assets between interconnected blockchains.
11. OpenPeer
OpenPeer is a peer-to-peer exchange that allows users to buy and sell crypto directly with one another while keeping control of their funds. Built on EVM-compatible networks such as Ethereum, BNB Chain, and Polygon, the platform works with self-custody wallets like MetaMask and Trust Wallet, removing the need to deposit assets with a third party. To help facilitate trades, OpenPeer uses a smart contract-based escrow system that holds funds securely until both sides of the transaction meet the agreed terms.
Most activity on the platform revolves around USDT, although users can choose from a wide range of supported fiat currencies and payment methods when arranging trades. One feature that sets OpenPeer apart is its flexible approach to identity verification. Rather than enforcing mandatory KYC checks, the platform allows traders to decide whether they want additional verification through its decentralized identity tools. As a relatively new entrant to the market, liquidity can be thinner in some trading pairs, but its self-custodial structure may appeal to users looking for a more direct way to trade crypto with others.
12. IDEX
IDEX brings together features from both centralized and decentralized exchanges. Trades are matched off-chain, but users keep control of their assets instead of handing them over like on a typical centralized platform. Funds stay in the user’s wallet until the trade is complete, so traders have more control and still get faster order execution.
This approach helps avoid problems often seen with fully on-chain trading, like failed transactions or slow execution when the network is busy. However, because IDEX uses off-chain systems, it might not suit those who want a fully decentralized experience. IDEX mainly supports Ethereum and other EVM-compatible assets, so it is more specialized than bigger multi-chain exchanges. For traders who want fast trades but still want to keep control of their assets, IDEX is a good compromise.
Final thoughts
Decentralized exchanges continue to play an important role in the crypto market, offering users more control over how they trade, store, and manage their digital assets. As the sector has matured, DEXs have expanded far beyond simple token swaps, with many platforms now supporting features such as cross-chain trading, derivatives, liquidity provision, and peer-to-peer transactions. The right choice ultimately depends on an individual’s trading goals, preferred blockchain ecosystems, and level of experience with self-custody tools. As always, users should conduct their own research, review a platform’s security practices and fee structure, and fully understand any risks involved before committing significant funds.
Disclaimer. Readers are encouraged to do their own research. Ambcrypto is not liable for any outcomes related to the use of information, products, or services mentioned. This content may include affiliate or partner links.