A step into the crypto trading venture is always a risky one. Thus, a trader needs to have the appropriate tools to help them. DEX Screener is one of these tools, helping you as a trader to have a positive trajectory on your investment portfolio.
We analyze the DEX Screener and if it is ideal for investors to use, and a step-by-step guide on using the DEX scanner to find the best investments for your portfolio.
What is a DEX Screener?
DEX Screener is a tool that helps investors research and find info on digital assets on Ethereum, Avalanche, Optimism, Arbitrum, Binance Smart Chain, and many other networks. Like many other crypto screeners, it monitors, analyzes, and evaluates publicly accessible data on blockchains and crypto tokens.
Additionally, the screener offers detailed info on 1200+ tokens and coins, which includes their price, market cap, 24-hour volume, circulating supply, and more.
There are many choices available for users in the market. As such, choosing which crypto is worth investing in is not easy. Therefore, the DEX Screener gives users a suite of charting tools to make informed investment decisions. The platform does this by running an algorithm evaluating securities, thus identifying whether they are good candidates for investment. It uses prospects based on price, trading volume, market size, and volatility.
DEX Screener Review
The platform has some amazing highlights before even venturing into its usage. They mainly include;
Has an insane selection. It has more coins, blockchains, and DEXs to explore than any other crypto screener.
Has an easy DEX analysis that allows one to filter crypto assets by decentralized exchange, network, liquidity, FDV, price, market cap, volume, transactions, and price changes.
Offers free charting and technical analysis. As such, the platform gives you access to charts and indicators. In turn, they help one identify trends and make better investment decisions.
One can get a large amount of data on tokens, contracts, and pairs.
Pros and Cons of the DEX Screener
Pros
- The platform is free to use with no sign-up required, no KYC, and no login via wallet required.
- The platform supports more blockchains and pairs than any other crypto screener (over 37k pairs)
- Offers free charting tools via TradingView
Cons
- The sheer volume of coins, pairs, and blockchains may be overwhelming, which is also a pro.
- There is no mobile app
- The user interface could be more intuitive; thus, some users may not find it user-friendly.
DEX Screener Key Features
DEX Screener gives users tools and features to help make crypto analysis on decentralized exchanges easier.
Some of the main features of the platform include the following;
Trends
The Trends feature a way to identify crypto trends in the market. Users can view price and volume data, thus helping them identify trending pairs and tokens with recent large prices.
Indexes
This is mainly a list of all the top traded dex pairs. They help users identify new trading opportunities and keep track of the overall dex market.
New Pairs
The New Pairs tab lists different platforms, allowing users to filter based on their preferred network.
From the tab, one can find details like;
- Pair name (network and platform symbol given where it is listed)
- Price
- Age
- Buy
- Sell
- Volume
- Price up/down (in 5m, 1hr, 6hr, 24hr)
- Liquidity
- FDV (Fully Diluted Valuation)
Gainers and Losers
With this feature, one can identify the various gainers of different networks. One can change the time setting and click on Rank and Filter to customize the search. The option allows one to filter the data on different parameters, which include;
- Desired platform
- Rank by (Fixed 24hr price change, descending)
- Liquidity
- FDV (max and min)
- Pair age
- The transaction.
Multicharts
The section allows one to add up to 16 charts or add suggested charts. For instance, if you click on the option Add Suggested Charts, the below charts will be added to the section.
Blockchain Networks
The DEX Screener tool gives users a couple of blockchain network options. Such include Ethereum, Avalanche, and Celo, among many others.
Add to Watchlist
This feature allows users to add trading pairs to their watchlist if they wish to monitor the rise/fall and its price.
DEX Screener Alerts
The option is used for creating trading pair alerts. The notifications act as a means for the program to inform users when their objective is reached.
How to Use DEX Screener
Step One: Get a wallet and fund it
Many options for a wallet fall on either Metamask or Coinbase. Fund the wallet from an exchange.
Step Two: Go to their website and set up the chain, token, and DEX you wish to analyze. The platform requires no setting up of an account. One can visit the link and navigate the screen to select the trading pair of their choice.
Step Three: Set up a swap and begin trading.
Final Thoughts
The DEX screener is an essential tool for any trader to find an appropriate investment in their portfolio. The screener helps traders sort through many stocks and options to find the best opportunities for their investment goals. One can also track their progress and adjust if there is a need to do so.
FAQS
How does DEX Screener work?
The DEX Screener platform uses varying data sources, providing users with detailed info on over 1,200 cryptocurrencies.
Is there a DEX Screener app?
No, there is no DEX Screener app. However, the platform is mobile-friendly, which means it is accessible from any device.
Is DEX Screener Safe?
Yes, the platform is safe. This is because they do not hold any user’s funds, and the data is encrypted. Additionally, the platform is hosted on a secure server and merely aggregates data from other sources.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.
