Which Decentralized Trading Protocol is the Easiest to Navigate as a DeFi Amateur Wanting to Trade a USDC/USDT Pair? Reasonably Well Versed in Crypto, However, the DeFi Rabbit Hole Scares the Life Out of Me.

Up until today, the notion of trading the above mentioned pair hadn’t entered my thoughts;
even though I have been watching intently over the last few months as the possibility of parity between the two (at the very least), appears to have become more of a when, and not if.

Therefore, the time has now come, and I must enter the labyrinth that is DeFi.

I know it is for my own good, but the thought of only trusting myself and being responsible for my own decisions is a lot to cope with.
/s

I’ve spent the last 18 months down this infernal centralized rabbit hole, and I hope that by now, I know enough to, sort of, confidently venture in the direction of a decentralized protocol, or two.

Sharing of thoughts, similar journeys, or directions would be gratefully appreciated.

Cheers!

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7 thoughts on “Which Decentralized Trading Protocol is the Easiest to Navigate as a DeFi Amateur Wanting to Trade a USDC/USDT Pair? Reasonably Well Versed in Crypto, However, the DeFi Rabbit Hole Scares the Life Out of Me.”

  1. Uniswap is pretty easy to use. If you’re swapping tokens I recommend getting familiar with MetaMask. Syncing your hardware wallet to MetaMask is key for security. Also there’s features on MetaMask to adjust your gwei so that you can speed up TXs or pay less on fees

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  2. I use AlgoFi’s stablecoin swap on Algorand. It’s fast and the network and DEX fees are low. You can get USDC on Algorand network on Kucoin and MEXC, there’s probably a couple more. Or just buy ALGO and trade for USDC. Cheapest I believe is to buy something on Coinbase/Binance then transfer to Kucoin and withdraw USDC on Algorand network

    What’s nice on DeFi chains, you can trade an assortment of stablecoins that you won’t find on CEX’s. I occasionally buy newer over-collateralized stablecoins similar to DAI that have good enough liquidity on DEXs, like half a million USD, that are off peg. It’s a risk but new stablecoins often are off peg for a while at least in the beginning as they build trade volume. I imagine getting some flak for mentioning the risk of buying new stablecoins that are off peg but I feel it’s a good bet on over-collateralized coins that are off peg

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  3. Like someone said, curve is the best defi for stable swaps. But man, arbing stables requires some behemoth stacks and giant balls (or partners) to actually make good money.

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  4. DeFi is the one thing I have no interest in touching with a ten foot pole. A small error and everything goes poof. I’ll sit this one out.

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