In one of the biggest hacking events in the world, Dubai-based cryptocurrency exchange Bybit became a victim of the Lazarus group, which led to over $1.5 billion worth of crypto being stolen from the exchange.
This happened after all the promises of security and transparency, which opened people’s eyes about the fallacy of trusting only centralized exchanges for securing assets. Therefore, the time has come for people to put more faith in DEXes and launchpads to have control over their own assets.
Best Decentralized Exchanges and Launchpads – Top 4 List
Best Wallet App
Best Wallet is one of the most secure options to not just store or swap cryptos, but also trade them. A decentralized wallet, Best Wallet is akin to a quasi DEX-like ecosystem, enabling users to buy and sell crypto using fiat, while relying on simple and robust security provided by FireBlocks.
FireBlocks ensures that not only the crypto funds stored inside the wallet remain secure, but accessing the wallet does not rely on remembering long and overbearing passphrases. Users can simply download the app, connect to the wallet through their email, and pass the two-factor authentication check to gain access to their wallets.
This simple approach to accessing the funds is complemented by a large variety of facilities the platform offers. By supporting over 60 blockchains, including Ethereum, Polygon, BNB Chain, and more, users are able to buy over 1,000 assets.
Furthermore, Best Wallet also offers an excellent launchpad. This launchpad enables investors to invest in cryptocurrencies while they are still at their zero stage.
Additional perks that this wallet offers include NFT integration and the ability to control other wallets easily through “Wallet Aggregator,” the process of which has been highlighted by this tweet.
💡 Need to import your wallet into Best Wallet? Here’s how.Watch our step-by-step tutorial on how to import all your wallets into Best Wallet and manage everything in one place.This video will show you:✅ How to import your existing wallets✅ How to manage multiple wallets… pic.twitter.com/j133Pb0Gzb
— Best Wallet (@BestWalletHQ) February 23, 2025
Seedify
Those looking to participate in niche projects related to metaverse or gaming should try Seedify. Seamless, simple, and not asking a lot of queries to interact with the platform, this cryptocurrency launchpad ensures that users can gain access to vetted cryptocurrency projects that could bring good gains in the future.
Users can see the list of these upcoming IDOs easily, as all the information related to their names and functionalities is available on the platform. Any wallet can be connected to access them. However, to access these facilities early, users are required to have the $FUND token.
What makes Seedify also interesting is that it lists whether the projects will allow users to get a refund of their investments if they fail. This added layer of transparency ensures that investors always have an exit strategy in place, an important element considering the security issues faced by many recently released projects.
Overall, Seedify is a good option to pick for those looking for more game-centric projects to invest in. And since the platform is also transparent about the projects that users can step out from, it is one of the more suitable options to pick from.
Further information about this platform can be found from this resource. It highlights the perks and shortfalls of this platform and many others like this one in great detail. That said, those looking for passive earning opportunities may not get what they seek from this platform, since it is exclusively a launchpad.
DAO Maker
Another option that investors can choose in light of the latest Bybit hack is DAO Maker. A leading decentralized launchpad and funding platform, DAO Maker is reportedly designed to democratize venture capital. This means it supports early-moving cryptocurrency projects and enables users to participate in IDOs.
The core attribute of DAO Maker is Strong Holder Offering (SHO), which is designed for long-term investors, meaning users will find strong utility-centric projects, not meme coins, on this platform. This is different from IDOs and is considered to be better for many reasons as well.
Venture Bond Offering is another unique feature this platform provides. Through this approach, investors are allowed to stake their stablecoins in exchange for project token allocations. Features like multi-investment rounds are also supported on this platform, along with DAO staking and governance.
Overall, DAO Maker offers a unique and secure way to invest in cryptocurrencies early. Considering the wallet has been chosen by the users themselves, the onus of maintaining security of their assets falls on them.
Raydium
For those looking for a decentralized way to pick Solana-based cryptos, you should check out Raydium. As one of the best decentralized exchanges for Solana-based meme coins and other cryptos, Raydium is generally home to some of the best fair crypto launches.
Calling itself an avenue for the evolution of DeFi, Raydium offers multiple capabilities. For one, users can swap or trade quickly and cheaply on this platform. As an automatic market maker, it also enables permissionless pool creation while also providing new features for earning yields.
Another unique perk of Raydium is the Burn and Earn functionality that allows projects to renounce their liquidity while maintaining the right to claim pool trading fees. With Routing Engine, Raydium also offers a smart routing contract for cheap swaps on Raydium pools.
Being decentralized, Raydium offers non-custodial trading, ensuring that users’ assets remain safe in their own wallets even if the DEX is compromised. Additional audits by security firms of its smart contracts also reduce the chances of a breach.
Why Decentralized Exchanges are More Secure than Centralized Exchanges
While most believe that ease of access and accountability make centralized exchanges secure, the recent Bybit hacking event has revealed otherwise. Here are the core reasons why decentralized exchanges are often preferable over centralized ones.
There is No Custodial Risk
With DEXs not asking users to add funds to tailored accounts, they ensure that users have complete control over their own assets. Not being reliant on a central entity also ensures that decentralized exchanges do not have a central point of failure.
No Risk of Insolvency of Bankruptcy
Mismanagement and fraud have led to the downfall of many cryptocurrency exchanges (centralized): Mt. Gox, FTX, and many more. However, since DEXs do not hold any funds, even if the platform shuts down, users can rest assured that their assets are safe.
Decentralized Control
Decentralized Exchanges are governed using a decentralized autonomous organization, ensuring that no single person has control over the assets or the module of the DEX. The community-centric nature allows DEXs to evolve with new security features.
Best Wallet, for instance, is one of the best examples of this, giving users access to its system’s governance body through the BEST token. As the project evolves, new security features are added, which further ensure that users’ assets remain safe during transactions.
Final Words
The Bybit hack has happened at a time when the cryptocurrency market is hoping for another bull run to arrive. While this has cooled down some enthusiasm around crypto, as evident by the recent dip of Bitcoin, hope still remains for the market due to decentralized exchanges and launchpads.
Whereas decentralized exchanges give people control over their own assets, with crypto launchpads, users can safely invest in upcoming projects. This could be considered a recipe to grow safely within the current crypto ecosystem. However, caution is still recommended; investors should take proactive measures to secure their own assets, as no system is 100% secure.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.