As the digital finance ecosystem develops, both new challenges and tools for their neutralization appear. The very idea of decentralized finance does not imply the existence of a central node that would be responsible for all transactions made within the network.
Therefore, the problem of exchanging numerous types of cryptos between different blockchains becomes extremely relevant. Cryptocurrency bridges were designed to solve it most effectively.
Different Ways to Exchange Cryptocurrencies
The main issue that arises when exchanging cryptocurrencies in the field of decentralized finance is the problem of trust and guarantees between trading partners:
- In the case of CEX, brokers act as guarantors. But their services must be additionally paid, which increases the cost of transactions.
- Within DEX, these transactions are automated and carried out through smart contracts. They lock part of the users’ liquidity for exchange and unlock it when the exchange is completed. But such an operation is possible only when the exchange is made within the same blockchain.
- When it is necessary to exchange cryptocurrencies of different blockchains without going beyond them, that is, without resorting to the services of centralized exchanges, the exchange algorithm becomes more complicated. At the moment, several of the most effective algorithms have been proposed, which are called cryptocurrency bridges.
Where to Find Cryptocurrency Bridges
Use the most comprehensive and convenient DeComma platform to work with numerous instruments for trading crypto, including such multi-chain tools as cryptocurrency bridges. Gathered in one place, they will create all necessary conditions for quick and effective exchange. Just select the bridge that suits your current needs and apply it for exchange operations.
Cryptocurrency bridges are the most effective tool developed for crypto exchange at the moment. Preserving the anonymity of traders, they fully correspond to the ideology of DeFi and cryptocurrencies in general. The DeComma crypto trading tool aggregator is the most advanced platform where you can find the best cryptocurrency bridges.