DEX Screener Review: The Hidden Gem Hunting Platform

If you are looking for a powerful analytics tool designed for decentralized exchanges (DEX), DEX Screener is the perfect choice for you. True to its name, DEX Screener meticulously analyzes DEXs on many different blockchains so users can easily look up information about DeFi platforms and all token pairs. Let’s dig deeper into the platform through this article.

Table Of Contents

What is DEX Screener?
Features of DEX Screener
DEX Screener User Guide
How to Trade with DEX on DEX Screener
Important Notes
Conclusion
FAQs

What is DEX Screener?

DEX Screener is a platform that collects on-chain transaction data directly from the blockchain of DEX exchanges. It then aggregates and visualizes this data into analytical tools, such as price charts. These tools allow traders to easily track price movements of on-chain traded crypto assets and compare and analyze them to make the most suitable investment decisions.

With DexScreencer, we no longer have to worry about the lack of analytical tools when trading on Dex. In fact, this platform brings more benefits compared to the analytical tools provided by centralized exchanges, such as higher transparency, decentralized operation, and no limit on the listed asset pairs.

This will be an important tool contributing to promoting on-chain trading activities, helping the shift from CeFi to DeFi to take place more quickly.

Features of DEX Screener

The platform has the following prominent features:

Visualizing On-chain Data

Blockchain is a vast database with data continuously updated (real-time) whenever platforms or decentralized applications (dApp) “plugged” into that blockchain generate transactions. Besides, the data in this database is highly transparent as anyone can access and view it.

However, not all of us know how to retrieve and read this data, and this is the reason DEX Screener was born. This tool will aggregate and visualize this on-chain data into information that ordinary users like us can understand. From here, new traders can view transaction data in the form of indexes, and price charts,… to analyze and make investment decisions.

Decentralized and Uncontrollable

DEX Screener’s data is taken directly from the blockchain, therefore, it is highly transparent and cannot be manipulated by any third party. The data is automatically updated in real-time, so you can track any asset paired with a liquidity pool on the blockchain, even potentially scam or rug pull projects. This partly demonstrates the decentralized and uncontrollable nature of the DEX Screener tool, it differs from CEX when these exchanges need to list tokens of new projects before they can be traded and tracked.

No Need for KYC

Thanks to the decentralized feature, you do not need to undergo KYC to gain access, as is the case with most current CEX exchanges due to government regulations. This will help reduce unnecessary steps when using this tool and avoid unwanted personal information exposure.

Operating as an Exchange

On exchanges, trading is the main feature, while price charts and indices are supplementary for users to analyze more easily. DEX Screener approaches the opposite way. The main feature of this platform is the transaction data analysis tool, then, DEX Screener integrates DEX exchanges into its platform so users can trade directly without opening a new tab. This makes this platform operate similarly to a centralized exchange like Binance or OKX that we often use.

DEX Screener User Guide

First, unlike centralized exchanges, to use DEX Screener, you do not need to create an account. However, to interact with the DEXs integrated on this platform, you need to connect a Web3 wallet containing the crypto assets you want to trade.

How to find the token you want to research on DEX Screener

First, to use the DEX Screener tool, visit the following link: https://dexscreener.com. Here, you will immediately see a list of Trending token pairs in the past 24 hours (as indicated by the arrow). This is also the first way for you to find trending tokens on DEX Screener.

The second method to find the tokens you need to research on DEX Screener is to use the category menu on the left (indicated by the arrow).

Here:

Watchlist: This is where you save the tokens you’ve marked to put them into a separate watchlist.
Alerts: This is a list of tokens you’ve set price alerts for at a certain level.
New Pairs: This list includes new tokens listed on DEX Screener. As I said before, these tokens will not need DEX Screener’s team to review and list, any token that has just created a smart contract and added liquidity pool we can track information as well as trade.
Gainers & Losers: This is a list of tokens with the highest growth and the biggest losses in a certain period of time, by default it will be the past 24 hours. Currently, DEX Screener supports tokens in 85 different blockchain ecosystems.
Portfolio: This is a category of assets in your wallet. To use this feature, you need to connect your crypto wallet to DEX Screener.

The third way to find tokens for research and trading with DEX Screener is to use the smart contract address. With this method, you can directly find the trading pairs of the tokens you are looking for. For example, in the image, I am looking for trading pairs with the PEPE token on the Ethereum network.

To use this method, first, you must have the smart contract address of the token you want to search for. You can get this on sites like CoinMarketCap, and CoinGecko or on social networking sites like X (old Twitter), or Telegram of the project you want to search for.

Then, you click on the Search box (arrow 1 in the instructions) and paste the contract address into the indicated box 2. At this point, you will see the PEPE trading pairs and information such as price, lquidity, and volume over the past 24 hours,… for those trading pairs.

How to Trade with DEX on DEX Screener

After making observations through analyzing the above information, usually, you usually have to open a new tab and access the DEX platforms that support the blockchain network where your asset is located for trading. This can be cumbersome, and sometimes you may not know which DEX platform supports the asset you intend to swap.

To limit these drawbacks, DEX Screener has integrated the swap function of those DEX platforms directly onto its platform. This allows you to analyze and execute trades conveniently.

To use this feature, in the chart analysis section of the asset pair you want to trade, select Trade on Uniswap (number 1).

Then, in the pop-up that appears on the left of the screen, you will see an area for you to interact with the DEX platforms. Before trading, choose the DEX platform you want to interact with (number 2). These DEX platforms will be automatically selected based on the contract and liquidity pool that your intended trading asset integrates into. After choosing the DEX platform you want to interact with, press the Connect button (number 3) to connect your wallet with these service providers.

Now, you can enter the necessary parameters such as the number of tokens, and slippage,… and execute the swap order.

Important Notes

Here are some important notes when using the DEX Screener tool:

Currently, DEX Screener has not launched its own token. Therefore, any invitations to buy pre-sale or trade tokens in the name of this platform are scams. Follow the official information channels of DEX Screener to stay updated with the latest information and avoid scams.

Tokens on DEX Screener are automatically listed through the detection of smart contracts and liquidity pools. Therefore, not 100% of tokens traded and displayed here are safe, you must always DYOR (Do Your Own Research) before conducting any transaction.

Occasionally, some newly established DEX exchanges with certain risks will also be integrated into the direct swap feature on DEX Screener. Therefore, when you trade and encounter such DEX exchanges, understand the risks and have measures to protect asset safety before conducting transactions.

Because this is a DeFi environment, there will be no control by any party. You will have to get used to these things and always remember to DYOR before conducting any transactions.

Conclusion

DEX Screener is a free and powerful tool designed for crypto traders, with detailed information on over 1,200 cryptocurrencies. Ideal for optimizing portfolio choices, DEX Screener simplifies tracking and monitoring cryptocurrency trends with a user-friendly interface and customizable screening criteria.

Whether you are a seasoned trader or new to DeFi, DEX Screener can equip you with the insights you need to make informed investment decisions in crypto investing. Add it to your essential tools to be able to find hidden gems in this market.

FAQs

Does DEX Screener have a mobile app?

Yes, DEX Screener is set up for both phones and PCs. You can visit Google Play or App Store to download the DEX Screener application.

How does DEX Screener work?

DEX Screener synthesizes many different data sources to provide users with detailed information about exchanges as well as token trading pairs. Data comes directly from the blockchains it tracks without using any APIs or external data sources.

Does DEX Screener have tokens?

DEX Screener is only a platform to aggregate and provide data information, currently, it does not issue tokens. If you come across a token or presale that claims to be related to DEX Screener, it’s probably a scam.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.