Decentralized Exchanges

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Decentralized Exchanges Overview

What do we mean by Decentralized Exchanges?

A decentralized exchange (DEX) is a platform that enables users to trade cryptocurrencies directly with one another without the need for an intermediary, such as a centralized exchange. DEXs operate using smart contracts, which are self-executing contracts with the terms of the agreement directly written into code.

DEXs offer increased security and control over funds, while centralized exchanges are typically easier for beginners and offer faster trading. The choice between the two often depends on the user's specific needs and level of comfort with managing their own cryptocurrencies.

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