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The top 7 decentralized exchanges

Updated: Jun 19

Decentralized exchanges have gained immense adoption from crypto users due to their flexibility and return opportunities.


CoinTracking is a fan of the emergence of decentralized exchanges in the crypto arena, currently supporting all major ETH-Based, BSC-based exchanges, and many more.


The rise of crypto-to-crypto trading on decentralized exchanges has to match the current tax solutions, and CoinTracking is right on track to support your DeFi journey.


Today, we show you the top decentralized exchanges in the market, how to import your trades from the most popular DEXes on CoinTracking, insights on DeFi taxes, and more!


The Top 7 decentralized exchanges


1. Uniswap


UniSwap is the most popular decentralized exchange out there, bringing innovation to the space, continuous updates, and a lot of opportunities for new projects and crypto traders.


Currently, you can import all your crypto trades from Uniswap using the ETH+DEX importer since Uniswap is an Ethereum-based decentralized exchange.


Check this video on how to import your DEX trades from Uniswap:


Additionally, in many countries (e.g., US), crypto-to-crypto trades are taxable events, and you need to keep track of your operations to become completely tax compliant. Recently, we released a guide covering the many ways you can be taxed when using Uniswap and how to be compliant. Check our Uniswap taxes guide to learn more.


2. PancakeSwap


PancakeSwap is the largest decentralized exchange under the Binance Smart Chain blockchain, rapidly gaining adoption among crypto trades based on its efficiency and low fees.


CoinTracking supports importing all of your trades from PancakeSwap for you to become tax compliant using our Binance Smart Chain blockchain address.


Learn how to import your PancakeSwap trades with this video:


Remember that the IRS treats crypto trades the same, regardless of the exchange you use or the blockchain that the DEX builds on. You could have multiple taxable events when using PancakeSwap and other DEXes (e.g., trading, yield farming, liquidity pools).

Learn about all PancakeSwap taxes from our guide.


3. SushiSwap


SushiSwap is the 2nd most popular decentralized exchange on the Ethereum ecosystem.

It may have started as a controversial project but quickly gained mass adoption and increasingly more development and commitment from their team to become a well-established DEX.


CoinTracking fully supports all importing of crypto trades from SushiSwap. You just need to paste your ETH address into our ETH+DEX importer and, in a few minutes, import all of the trades you conducted with that address on SushiSwap.


Learn the simple steps to import your SushiSwap trades:


SushiSwap also functions on Polygon. CoinTracking also supports importing your Polygon trades with our Polygon (MATIC) importer.


Don’t forget that if you’re in the US, crypto trades on Sushiswap, you’ll have to determine the gain/loss on each trade and report it. This is not exclusive to the US, as many countries tax crypto-to-crypto trades. Check out our SushiSwap taxes guide to learn more.


4. 1Inch Exchange


1Inch is one of the most popular decentralized exchanges aggregators, functioning with several blockchains (e.g., Ethereum, Polygon, etc.) and giving traders the best available prices when trading crypto-to-crypto in a decentralized fashion.


You can easily import your trades from 1Inch by pasting the address you used there (ETH, BSC, Polygon).


5. TraderJoe


TraderJoe is a recent decentralized exchange launched in 2021, rapidly rising to cross $4 billion in assets. This DEX differentiates itself from other alternatives due to working under the rapidly growing blockchain, Avalanche, bolstering the efficiency and scalability of DEX trading.


CoinTracking is working on an Avalanche blockchain import to be released by the end of the year. You’ll be able to import your liquidity and staking from TraderJoe. Stay tuned for updates across our channels.


6. QuickSwap


QuickSwap is one of the biggest decentralized exchanges, built under Polygon, offering more scalability and low transaction fees.


The new wave of DEXes is built under networks that provide more options for users while offering attractive rewards when trading, farming, or providing liquidity.


CoinTracking currently supports importing trades from QuickSwap using our Polygon (MATIC) importer.


7. Raydium


Raydium is one of the biggest decentralized exchanges under the Solana ecosystem. Solana has grabbed the attention of investors, becoming one of the largest networks in crypto. Its scalable and efficient solution is leading more DEXes to emerge under its blockchain.


Fortunately, DeFi traders can use CoinTracking to import their deposits and withdrawals from Raydium using our Solana blockchain importer.


The best DEX tax calculator: CoinTracking


The best crypto tax software to import and track your trades from decentralized exchanges is CoinTracking.


Beyond DeFi, you can import your trades using our CSV or API imports from hundreds of other exchanges, track your gains/losses, and generate tax reports according to your preferred accounting method.


CoinTracking is your full crypto tax solution for:

DEX taxes with no errors: CoinTracking Full Service in the US.


CoinTracking also offers a Full Service for crypto traders in the US. A crypto reconciliation tax expert from Polygon Advisory Group, a leading US crypto tax firm, will review your CoinTracking account, help fix any errors, and ensure you submit your crypto tax reports error-free.


Do you have any crypto tax questions? Check the best guides:

  1. DeFi Taxes: The Complete Guide.

  2. How to save taxes with a Bitcoin IRA.

  3. Do you pay taxes for receiving Bitcoin tips?

  4. Uniswap Taxes Guide

  5. Is wrapping crypto taxable?

  6. How to calculate taxes with Bitcoin dollar-cost averaging?

  7. Do you pay tax on stolen, hacked, or lost crypto?

  8. FIFO for crypto taxes? Implications of accounting methods.

  9. NFT Taxes: The Complete Guide.

  10. 2021’s NFT guide (with taxes).

  11. Is Bitcoin taxable? The ultimate guide for 2021 taxes.

  12. Do you pay taxes on Bitcoin debit cards purchases?

  13. Top crypto tax friendly countries.

  14. How to reduce your crypto taxes?

  15. Crypto tax loss harvesting: Here’s what you need to know

Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.