DeFi emerged in 2020 with a vision to create solutions to the existing bottlenecks in the centralized financial system. In the last two years since its inception, the ecosystem has exploded to $87 billion by leveraging some unprecedented use cases such as quick lending, liquidity mining, staking, yield farming and compound interest. DEXs turned out to be hotspots for observing maximum DeFi activity. Some of the users within the ecosystem who had previously registered with Cex or centralized exchanges transferred their assets to Dex or decentralized exchanges to interact with the DeFi protocols via wallets.
One thing that was like a elephant in the room, however, was the inconvenience, which caused annoyance to users. For example, users had to buy cryptocurrencies on one exchange and transfer them to another DEX to operate. In this way, the process not only took a lot of time, wasted resources and caused inconvenience to the users; but also deprived them of a good earning opportunity. To speed up decision-making, maximize ROI and fix the fragmented operation process, crypto aggregators are a good choice in 2023.
What are crypto aggregators?
Crypto aggregators, using dapps, smart contract, oracles and APIs, establish a system where data from different DEX and CEX are merged onto a single platform with integrated price feeds. This way, traders don’t have to switch between exchanges to find out the best prices for an asset. On the contrary, they can simply sign up with the crypto aggregator and trade from these platforms. In some rare cases, some crypto aggregators allow trading of cryptocurrency pairs that are not even supported on some of the reputable exchanges around the world.
How do crypto aggregators work?
Crypto aggregators use price oracles that connect to multiple exchanges to provide the latest price feeds. You can take this as an example. Suppose when visiting a holiday destination there may be several hotels available for accommodation. If you had to check each hotel to find the best prices, it would take a lot of time and money. However, to make the process easier, there is a website that connects directly to all hotels in this holiday destination and tracks all offers and prices for quick booking on the go. Via this website, the user can follow even the smallest price fluctuations of the hotels and take advantage of the opportunity to book their services.
A crypto aggregator works similarly, tracking all crypto exchanges via price oracles and APIs to determine the latest price for the crypto. Once the user/trader initiates a trade, the protocol executes the trade across all exchanges and swap protocols. After finding the best platform to trade, the logs execute the trade and the trader ends up making the maximum profit, which otherwise would have been impossible without the help of the crypto aggregator.
Top 3 Crypto Aggregators of 2023
#1 Best Change
BestChange.com is a website that offers users a comprehensive list of online currency exchange services and helps them find the best exchange rates for various digital currencies such as Bitcoin, Ethereum and Litecoin, as well as fiat currencies such as USD, EUR and BRITISH POUND.
The site compares the exchange rates of different exchange rate services and presents them in an easy-to-understand format, allowing users to choose the exchange rate most convenient for their needs. In addition to exchange rates, BestChange.com also provides users with information about the reliability and trustworthiness of each exchange rate service based on user reviews and ratings.
#2 Unices
Unizen is a CeDeFi crypto aggregator that uses an AI-powered social trade sentiment engine. In addition, the aggregator has a customized user interface that offers a different interface for sophisticated crypto trading compared to a new crypto trader. On Unizen, traders can engage in multi-asset yield staking and cross-chain trading using BSC or Binance Smart Chain. Unizen offers the following trading pairs for traders/investors: ZCX/USDT, ZCX/BTC, ZCX/ETH.
#3 Dot Finance
Dot.Finance is an emerging crypto aggregator in the Polkadot ecosystem that helps users earn high yields from their idle cryptos through staking. To reduce the complexities associated with staking, yield farming and liquidity mining, the crypto aggregator introduces a comprehensive DeFi yield aggregator. All the user has to do is lock the tokens in the vault and let the protocol get the most out of your asset.
No more fuss and headaches to get the best returns, even a newbie can simply lock the token and let the protocol trade on their behalf. Additionally, Dot.Finance also introduces auto compounding, where traders/investors let the protocol automatically lock staking rewards to convert them into LP tokens. During auto compounding, investors are entitled to the pink tokens that give them control over the Dot.Finance ecosystem. The interface is very simple for crypto users. All you have to do is access Dot.finance by clicking on the link.
Once you’ve done that, click “Open App” and click the “Buy Pink” button.
As you can see, there are several token pairs available, e.g. B. USDC, SUDT, ETH USDC, SOLAR MOVR LP, MOVR and USDC tokens that can be used to make money from the protocol. Additionally, with one-click access, as shown below, you can quickly perform activities like trading, pooling, farming, staking, and bridging by connecting your wallet.
→ Buy ETH here ←
FYI, when trading cryptocurrencies, one should always use hardware wallets as they offer maximum protection and users have full rights to their private keys. Make sure you store your cryptos in a hardware wallet.
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