Decentralized Exchanges that we have tried
I am brand new to decentralized exchanges. I was trying out the Coinbase wallet about a month ago and found the browser. After doing some research I learned that there were these things called Dapps or decentralized apps. I loaded up on Ethereum and went to town. I staked the Kyber Network. I sent some Ethereum to a scam project called Adrenaline that took me for some Ether and gave me a worthless ADR token. I have lost CryptoKitties. I have provided liquidity to the Uniswap protocol only to learn about impermanent loss. I have deposited money in the compound protocol. I have loaned stable coins using Coinbase Wallet. I have tried to buy NBA Top Shots with no success. I tried minting my own NFT and sort of succeeded. I have tried a lot of things you can do with a wallet and now I am ready to just HODL.
You can't talk about decentralized exchanges without Uniswap. I have used Uniswap about 100 times so far. It is the easiest way in the world to exchange ERC-20 tokens. They charge .3% which goes to the people that are providing the liquidity needed to make your trade. It is a great protocol for the user. There are problems with being a liquidity provider. Impermanent loss is an issue that you will need to look up before you start providing liquidity. I learned about it while in the middle of providing liquidity to Uniswap. There are other places to put your money that have supposedly figured out how to avoid the impermanent loss. I believe Balancer is one of them. I am still trying to figure out if there is a good liquidity pool to stake. Right now I feel the safest using Kraken to state Polka Dot but there are much more lucrative options in the Defi World.