A decentralized crypto exchange (DEX) allows users to trade cryptocurrencies directly without intermediaries. These platforms operate on blockchain technology, providing transparency, enhanced security, and user control over funds. DEXs eliminate central points of failure, reducing hacking risks common in centralized exchanges. Users retain custody of their assets, and transactions occur via smart contracts. Decentralized exchanges promote trustless trading environments, support a wide range of tokens, and align with blockchain’s core principles of decentralization and censorship resistance, appealing to users prioritizing privacy and control.
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