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Admin 05 Aug, 2023

What is a DEX (Decentralized Exchange)?

In the world of cryptocurrencies, decentralized finance (DeFi) has emerged as a fresh concept that aims to give users access to deep pools of liquidity through peer to peer trading without borders. At the heart of DeFi lies the decentralized exchange, commonly known as a DEX. 

In this blog, we'll explore what a crypto DEX is, how it differs from centralized exchanges.

Understanding Decentralized Exchanges (DEX):

  • A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates on a blockchain network, typically utilizing smart contracts. Unlike centralized exchanges that rely on intermediaries to facilitate transactions, DEXs enable peer-to-peer trading directly between users. 

  • This peer-to-peer model eliminates the need for intermediaries, such as custodial wallets or centralized entities, giving users greater control over their assets.

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