Raydium Review 2023
Raydium is a popular decentralized exchange created by an anonymous team in 2021.
It runs on 1 different chains including Solana.
Raydium offers features such as nfts, liquidity mining, staking, yield farming, launchpad, spot trading and more.
We rated Raydium 4/5, based on it's features, security, and future prospects.
This DEX sells NFTs that you can buy and collect. They're great for profile pictures, and in some cases could be used for staking. Though this depends on the DEX.
Raydium allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by Raydium.
Has staking for it's native token; allows you to earn passive income.
Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.
Has a project launchpad that launches new tokens.
This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.
All DEXs charge trading fees. Raydium is no different.
Trading fees incentivise liquidity providers to provide liquidity to Raydium. This enables people like you to freely trade between tokens without incurring too much slippage.
Raydium does not charge withdrawal fees.
DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.
How to use Raydium?
- Get a crypto wallet that supports web3 on one Raydium's of supported chains.
- Deposit crypto into the wallet, ensuring you have tokens for gas
- Navigate to Raydium's homepage
- Connect your wallet to the website
- Goto Swap/Trade
- Choose a token that you'd like to swap to
- Finally, swap!
Where can I buy RAY ?
You can by RAY direct from Raydium. It is the native token of Raydium, and they will therefore offer the most liquidity.
Is Raydium safe?
Yes, Raydium is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.
What chains do Raydium support?
Raydium supports Solana.