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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. 

What is BogSwap? Benefits of using a DEX aggregator to swap and trade tokens.

23 Feb 2022 4 minute read 0 comments Dave from Bogged

In this article we’ll explore BogSwap, a DEX (Decentralised Exchange) Aggregator that’s available on ten blockchain networks including BNB Chain, Avalanche and Polygon. Read on to find out how it works, and how you can benefit from using it, whether...

🔥 Oasis Network X Coinmarketcap || Learn & Earn $ROSE Tokens.

22 Feb 2022 1 minute read 1 comment FreedomBuilder

🎁 Total Reward: Get $10 in ROSE For 19,000 Random Winners. 🏦 Login to your Binance account & get your UID "User ID".  ✈️ Oasis Network Learn & Earn Program.

Rango Exchange: The DEX that Bridges Blockchains (Cross-Chain DEX Aggregator)

20 Feb 2022 2 minute read 0 comments CryptoCelt97

  I'm sure we've all been in that situation where you hold an x amount of a coin on a blockchain, and want to exchange it for a token on a different blockchain. This can usually turn into bit of a laborious process, since you'll have to swap through...

SpookySwap BOO: A Scary Decentralized Exchange on Fantom

20 Feb 2022 4 minute read 3 comments 2sats

*obligatory not financial advice*   What is SpookySwap? SpookySwap is the main DEX of the Fantom blockchain. It feels like every smart contract blockchain needs its own signature decentralized exchange. Ethereum has Uniswap, Algorand has Tinyman, Tez...

STARS/OSMO APR is going lower and lower everyday!

19 Feb 2022 1 minute read 2 comments Aldeneer

Hello OSMOSIS defi enjoyers, recently I noticed that STARS/OSMO APR percentage is going lower and lower everyday, I don't really know why is it happening but be aware that its happening before commiting into it.  Still I think it is worth delegating...

Decentralized Exchanges and Why HOSWAP is the DEX for the Future

19 Feb 2022 4 minute read 0 comments RitabeII

DeFi continues to disrupt the financial world, and decentralized exchanges are at the forefront of this movement. Thanks to DEXs, the unbanked and the growing number of people with apathy for centralized outfits can now access financial products in c...

TangoSwap likes Rock 'n Roll ... I like a slow Viennese Waltz

18 Feb 2022 2 minute read 0 comments PVMihalache

A new chapter started on SmartBCH, when Tango Swap landed on the SmartBCH. The new DEX was ready to teach people to dance with SEP-20 tokens, in a more secure way. The extra layer of confidence was given by the two names behind the project, two well-...

Nerve 2.0 Beta is Now Launched

15 Feb 2022 1 minute read 1 comment NULS

We are excited to announce that Nerve 2.0 Beta is now released, you can now experience the new features on Nerve 2.0 provides more services in terms of its product line. First of all, NerveNetwork blockchain is a completely gas-free ne...

How Safe Is The rDEX?

13 Feb 2022 3 minute read 0 comments RitabeII

Recently, Staking Finance (StaFi) submitted a proposal for the creation of the rDEX. This got the needed vote count, resulting in the kick-off of the development process. The rToken decentralized exchange (rDEX) is currently live on the testnet as la...

Acala Platform’s DEFI functions have rolled out with early adopter program participants checking it out!!

12 Feb 2022 3 minute read 2 comments Greenchic

One can try out the Acala app -  Acala DEFI ignites to life with token distributions that happened on Jan 25th A few days back, I shared about Acala Defi already having been ignited to life on Polkadot as a parachain . Th...