DEX (Decentralized Exchange)

A decentralized exchange (DEX) is a platform that allows users to trade cryptocurrencies directly with each other without relying on a central authority or intermediary. Instead of a traditional exchange managing transactions, DEXs use blockchain technology and smart contracts to facilitate secure, real-time trades. This setup offers increased privacy, control over assets, and reduced reliance on third parties, but may also require users to manage their own security measures. Overall, DEXs aim to make crypto trading more open, transparent, and accessible.