Decentralized Exchange (DEX)

What is a decentralized exchange (DEX)?

Decentralized Exchange (DEX) Definition: A DEX of a decentralized exchange is a P2P or peer-to-peer marketplace that essentially offers crypto assets to buyers and traders. This marketplace is much like a stock exchange, only it involves trading cryptocurrencies outside of the regulated banking and brokerage system.

DEX systems are typically created based on the ETH or Ethereum cryptocurrency and have become a success, with over 217 billion transactions recorded in 2021’s first quarter. DEX makes trading cryptocurrencies easier for individuals by offering a range of financial services, including crypto wallets.

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