decentralized exchange
decentralized exchange

What is a Decentralized Exchange (DEX)?

A decentralized exchange (DEX), like Uniswap, are crypto exchanges that use smart contracts to facilitate peer to peer trading. This is achieved on an on-chain orderbook, an off-chain orderbook, or through automated market making. Decentralized exchanges require users to sign up, but do not require users to verify their identity. They are attractive because they provide better financial autonomy over centralized exchanges, as users control the assets they exchange privately.

 

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