Cryptocurrency platform StormGain has launched a decentralized exchange (DEX) to support the decentralized trading of digital assets with no custodial risk.
The DEX has exited beta testing following several weeks of trials and is available on web and smartphone apps.
The role of DEXs in cryptocurrency trading has gained attention following the collapse of several centralized crypto platforms and prominent technology-focused banks. Decentralized platforms allow users to retain control of their keys and access to their coins.
StormGain’s DEX provides a non-custodial alternative to complement its centralized exchange (CEX) as part of its growing product range, allowing crypto traders to choose their preferred system.
To trade on the DEX, a user connects their own non-custodial blockchain wallet and places trades directly, with all orders settled on the blockchain. The DEX has only read-only permissions for the wallet. There is no need for the user to register an account or make a deposit. Smart contracts enable orders to be executed promptly and efficiently.
Users can connect any wallet that supports the WalletConnect protocol, such as MetaMask, Trust Wallet and Argent, with more options to be added soon. The DEX supports the Ethereum blockchain and will add support for the Binance Smart Chain and Tron.
StormGain DEX offers deep liquidity, a range of trading pairs and up to 500x leverage. Traders can access over 55 crypto instruments, including options and tokenized commodities.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.