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A decentralized exchange (DEX) is a cryptocurrency exchange which operates in a decentralized way on a distributed ledger. One of the first DEX’s was launched in 2014 by the team behind the NXT cryptocurrency. Since then, a multitude of decentralized exchanges have launched but they are still very much in their early stages. 

Unlike centralized exchanges (CEX), which operate from centralized servers and are controlled by a central authority, DEX’s operate on a blockchain and enable peer-to-peer trading of cryptocurrencies. This is the primary difference between centralized and decentralized exchanges, but there are also many more:

Anonymity: Decentralized exchanges grant their users full anonymity, while centralized exchanges generally need to comply with KYC (know your customer) and AML (anti-money laundering) laws. 

Control of Funds: At centralized exchanges, users must trust their money to a third party. Their crypto funds are held by the centralized exchange, not the user. With decentralized exchanges, the user controls their funds as they make transactions directly from their personal wallets.

Hacks & Server Downtime: Centralized exchanges can be hacked and have downtime because they have central points of failure for hackers to target. Decentralized exchanges are impossible to hack because all participants are servers and if someone is hacked, the DEX will not notice and continue running. 

Open Source: A true decentralized exchange is completely open source so that anyone can open its code and see the algorithms and technologies it uses. With centralized exchanges, everything is privately owned and the user cannot identify what algorithms are being ran or technologies being used. 

A Great Way For Newcomers To Access Crypto Without Utilizing CEXs

3 hours ago 2 minute read 0 comments Sapphire Crypto

A Common Barrier For those of us who have been in the Crypto space for some time, it’s a lot easier to avoid centralized exchanges, and the risks associated with them. However, for newcomers, the initial challenge is to inject fiat currency into the...

How Safe Are Crypto Exchanges? Warning Signs to Heed

26 Sep 2023 7 minute read 0 comments CryptoManiaks

It is essential to learn the answer to the question: “How safe are crypto exchanges?” before considering depositing money in one. The crypto industry is becoming more mainstream, and many people are looking to invest to fight back against inflation a...

RARI Joins Forces With MelegaSwap. What’s in Store for Investors?

24 Sep 2023 2 minute read 0 comments MelegaSwap

Hello, crypto enthusiasts! This is Melega Finance, the world's leading decentralized crypto ecosystem, which includes a top-tier automated market maker (AMM) digital asset exchange, a team of marketing professionals, and more. We are thrilled to anno...

The Battle of Dexes ⚔️: The struggle to become the leading decentralized perpetual protocols in Web3. ⚔️

21 Sep 2023 2 minute read 0 comments tripplea1

This current bear market has revealed the loophole in the operation of centralized exchanges. While some are good players, the bad players have caused a shift to the next narrative in the crypto market. Since narratives are the main drive of an ecosy...

MetaTdex unlocks innovation and introduces new products

18 Sep 2023 5 minute read 0 comments MetaTdex

Recently, MetaTdex strategic upgrade was fully launched, accompanied by a number of industry-level innovations. It is contributing to a series of new ways to play the platform token concept. For example, platform token(TT) can be used as GAS fees, to...

IceCreamSwap: A One-Stop DeFi platform on Telos Blockchain.

18 Sep 2023 4 minute read 0 comments Cryptonalyzed blog

  Are you in search of a one-stop DeFi platform on Telos, then IceCreamSwap is a great option. We offer a variety of features and benefits that will make the DeFi experience more efficient and enjoyable for both users and project owners. IceCreamS...

DeFi Tour: Explore the world of decentralized finance with IceCreamSwap (A beginner’s guide Part 1)

17 Sep 2023 3 minute read 1 comment Cryptonalyzed blog

Welcome to DeFi Tour Guide 1: What is Decentralized Finance (DeFi) and how does it work? Let’s explore the DeFi world together! Decentralized finance (DeFi) is a rapidly growing ecosystem of financial applications that are built on blockchain tech...

Defying the Trend: How PERP Outpaced the Market by 30% in 30 Days

13 Sep 2023 4 minute read 0 comments Sebastian Purcell, PhD

Even though PERP has given back some of its recent gains, it is still a net gainer of better than 20% while the rest of the market has declined better than 10%. Why? And is there any long-term potential here? I think so, maybe 15x if things turn out...

Crypto Millionaires’ Secret Weapon: How Decentralized Exchanges Turned Rookies into Pros!

13 Sep 2023 4 minute read 2 comments Swapzone

In the ever-evolving world of cryptocurrencies, one thing is certain — decentralized exchanges (DEXes) have become the secret weapon of crypto millionaires. Gone are the days when rookies had to rely solely on centralized platforms to trade their dig...

WingRiders The Dex On The Cardano Blockchain

9 Sep 2023 1 minute read 0 comments KryptoKan

The Dex On Cardano We all know what Uniswap and PancakeSwap is or yet, if you're familiar with the Cardano Network you'll know about Minswap, well here is another DEX that is safe and gives its users holders benefits. Native & Fast Automated Market...