Decentralized Exchanges (DEXs)

Decentralized Exchanges (DEXs) are platforms that allow users to trade cryptocurrencies directly with each other without relying on a central authority or intermediary. Using smart contracts—automated programs on blockchain networks—DEXs facilitate secure, peer-to-peer transactions. This setup offers greater privacy, control over funds, and reduces the risk of hacking or censorship associated with centralized exchanges. While they might have a steeper learning curve and lower liquidity, DEXs are increasingly popular for their transparency and autonomy in digital asset trading.