This Is How You Can Benefit From DEX

This Is How You Can Benefit From DEX

Written by

Jack Bass

November 16, 2021

Among the various ways in which you can invest in the crypto market, you should consider an alternative approach with the Pillar wallet. You can use decentralized exchanges to trade assets with a special kind of ease.

The weight of history is leaning away from traditional finance (TradFi) and towards the cryptoverse as individuals and governments alike increasingly see blockchain’s benefits. 

A deeper look shows macro trends heading toward decentralized exchanges (DEX)—blockchain at its DeFi best—as the optimal choice for crypto accounts of all shapes and sizes—including yours.

Cutting Through the TradFi Haze With DeFi

Recently, the state of Wyoming embraced decentralized finance (DeFi) by recognizing decentralized autonomous organizations (DAOs)—typically how DeFi platforms manage governance—as legitimate corporate entities. 

In the private sector, companies such as the digital asset trading platform ShapeShift are also moving from a centralized, conventional corporate structure to a more decentralized one

This makes a lot of sense. Going with a DEX, especially a multichain DEX, has clear benefits:

  • Greater privacy, with no need for lengthy and costly KYC (Know Your Customer) processes that require users to reveal their identity.
  • Elimination of unnecessary intermediaries taking a cut. This allows customers and businesses of all sizes to avoid the ridiculous need for permission to borrow based on anything other than collateral. 
  • Superior transparency of transactions. With DEXes and connected dApps, multiple parties validate transactions and gain from the openness of a consensus-based system. With DEX, blockchain attracts customers wanting more transaction oversight and transparency. At the same time, node operators and validators receive rewards from staking their crypto. 

Rather than drinking the Kool-aid, going DEX means sipping on the finest of wines.

Maximizing Your Financial DEXterity With Pillar 

Although DEXes are the way to go, not all of them support you the way Pillar’s DeFi platform does.  

How so? Pillar wallet provides all of DeFi’s benefits along with the tools to make the most out of them. The Pillar wallet is truly a multichain DEX aggregator, enabling trades across four different networks. While some DEXes rely on one kind of base coin to provide their benefits, Pillar’s multichain wallet connects users to many different DEXes and dApps with virtually unlimited ways to earn more crypto. 

On many platforms—Uniswap, 1inch, QuickSwap, PancakeSwap, and HoneySwap, just to name a few—Pillar wallet users earn crypto on top of what they already have. For example, liquidity mining lets users seed their tokens for much greater earnings than fiat offers.

Choosing Your First Course at Pillar’s DeFi Feast

Not sure where to start? You’re in luck! 

In fact, Pillar could be the only support you need after leaving the failing house of TradFi, following in the footsteps of many governments and former CeFi exchanges. You owe it to your finances to let Pillar help you make the switch!

Download the Pillar mobile app for Android or iOS and join our Discord channel today!