A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers . In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform.
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Decentralized exchanges (DEX) are a type of cryptocurrency exchange which allows for direct peer-to-peer cryptocurrency transactions to take place online securely and without the need for an intermediary .
Read moreWhat is a decentralized exchange and how does it work?
They are basically peer-to-peer marketplaces, which allow crypto traders to carry out transactions without handing over their assets to a custodian or intermediary . Rather than relying on custodians and intermediaries, smart contracts facilitate transactions on decentralized exchanges.
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