What is Decentralized Exchange?

 A cryptocurrency exchange is a platform that allows its users to convert the fiat currency into cryptocurrency and vice versa. The exchanges also allow the conversion between different cryptocurrency tokens. They play an integral role in the cryptocurrency industry as it would be nearly impossible to trade and use crypto tokens without them.

Decentralized exchanges also known as DEXs, are in a stage of rapid growth at the moment. They offer an alternative for any of the user who does not want to trust a third-party with their funds

In this article, we will provide the complete guide on the Decentralised exchanges and check out its overall aspects. Let us look in detail in this review now, 

What is a Decentralized Exchange?

A decentralized exchange is a platform that eliminates the middleman and allows the users to trade cryptocurrency directly with one another. This ensures that the traders are in full control of the funds at all times of the transaction.

The decentralized exchanges eliminate the risk of hacking due to the distributed network of the nodes. They also overcome the issue of server downtime which is faced by the users during trading.

They provide an open and transparent network that makes crypto trading accessible to everyone. There are several decentralized exchanges that are already live and offering peer-to-peer trading across a range of cryptos.

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