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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. | SWAP your LKMEX ( locked MEX) for EGLD

10 Mar 2022 1 minute read 2 comments d3mentOr

    You probably already know about Maiar and Maiar Exchange from the Elrond ecosystem.And know that $LKMEX is the locked version of the $MEX.If you earn/farm $LKMEX on Maiar Exchange, principal DEX on Elrond blockchain, I'm pretty sure you know tha...

Ubeswap UBE: A Phone Friendly DEX on the Celo Blockchain

6 Mar 2022 3 minute read 0 comments 2sats

*obligatory not financial advice*   What is Ubeswap? Ubeswap is a decentralized exchange and the most used dApp on the Celo blockchain. Celo is a smart contract blockchain that offers low fees and has a strong focus on smart phone users. The aim of t...

rDEX Launches On Mainnet

5 Mar 2022 4 minute read 5 comments RitabeII

Weeks ago, StaFi commenced the development of rDEX, a decentralized exchange for trading its staking derivatives (rTokens). This move has received mixed reactions in the crypto space and beyond.  Here, we intend to dig into the facts about the rDEX....

Getting to know Liquidity on Decentralized Exchange and Yield Farming?

2 Mar 2022 3 minute read 0 comments Defiant Pathfinder

In the Cryptoverse Liquidity is the Key to survival and success of an altcoin, without it no one will invest in that crypto currency. When its comes to Monetary Policies and Acts In the Financial sector, the amount of fiat money in circulation should...

A short overview of the waves ecosystem and why it has spiked the last days (part1)

2 Mar 2022 2 minute read 0 comments Markus84

Transition to waves 2.0 and a growing ecosystem   Waves is a PoS Blockchain founded in 2016 by Sasha Ivanov. In 2022 Waves will migrate to Waves 2.0 and will introduce EVM compatible sidechains and gravity bridges to all EVM compatible networks. This...

28 FEB 2022 (MON)- Project Serum (SRM) Report Card

28 Feb 2022 6 minute read 0 comments quantdoge

Investment Disclaimer: I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only. Past performance presented here is not an indicator of future per...

Why it’s important for us to be skilled in trading using decentralised P2P platforms in today’s world

26 Feb 2022 5 minute read 1 comment Greenchic

   High time for me to start using P2P decentralized platforms for crypto trading Of late, I have been thinking and trying my hands figuring out how to use peer to peer platforms for crypto trading (mostly Bitcoin). It’s not that I am much of a trad...

QuipuSwap QUIPU: A Decentralized Exchange on the Tezos Blockchain

26 Feb 2022 3 minute read 1 comment 2sats

*obligatory not financial advice*   What is QuipuSwap? QuipuSwap is the decentralized exchange on Tezos with the most liquidity. Many other Tezos projects have partnered with Quipu and use its Liquidity Pool tokens for framing. The development of the...

How Metalswap Is Decentralizing Swaps

25 Feb 2022 4 minute read 0 comments daniejjimenez

The first thing they warn us about when we learn about Bitcoin is “not your keys, not your bitcoins”. This simple phrase encompasses many concepts, which can be simplified into two words: decentralization and freedom. For those of us who value the fo...

How to save significantly on trading fees and time using CrowdSwap

25 Feb 2022 1 minute read 0 comments Markus84

How to save significantly on trading fees and time using CrowdSwap With the introduction of smart contracts and the rise of DeFi the gas fees on ETH have reached new highs. On top of that there are countless projects that makes it very time dependent...