Kyber Network, the highly anticipated decentralized cryptocurrency exchange, has followed up their Mainnet launch earlier this month with adding 4 more tokens to their exchange. This morning Kyber Network announced they have listed:
- Enigma (ENG)
- Salt Lending (SALT)
- Appcoins (APPC)
- Raiden (RDN)
The DEX currently also lists trading pairs:
Many crypto investors are familiar with centralized exchanges like Coinbase and Binance, but there are great benefits to using a decentralized exchange. When using a centralized exchange, the user truly does not posses their token’s private keys as they are held by the exchange until funds are withdrawn into a wallet. With decentralized exchanges like Kyber Network, tokens and private keys are always held by the owner until sold.
Users can buy and sell tokens directly from their Trezor or Ledger wallets, by connecting to Meta Mask, adding their JSON keystore, or just entering private keys. Transactions are nearly instant and funds will appear in your personal wallet and not be left vulnerable on an exchange.
In addition, the Kyber Network also provides payment APIs that will allow Ethereum accounts to receive payments from any crypto token which will automatically be converted into Ethereum or other preferred tokens.
The crypto and blockchain market continues to grow and more users as well as crypto assets are being introduced daily. The threats of internet fraud and external hacks surrounding centralized exchanges has constantly been a hot topic this year as we are seeing more and more centralized exchanges facing these problems. The need for secure exchanges and more efficient ways to convert crypto tokens is legitimate and decentralized exchanges may be the solution.
The Kyber Network has been limiting new users to the exchange considering it is still in Beta phase. Users who wish to be whitelisted for early access should fill out the whitelist document.