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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. 

📢 Ufobject 👉 The innovative blending of several hashing algorithms provides strong encryption, thus complete safety of protocol.

11 Feb 2022 1 minute read 0 comments FreedomBuilder

  🌀 Fast UFO crypto with real world use-cases:📌 p2p payments📌 decentralized exchange📌 public payments📌 intellectual property registration 🏦 $UFO is already listed on CoinMarketCap: 🎁...

Just DYOR and WAGMI: A Crypto Lingo Guide

11 Feb 2022 2 minute read 0 comments TheWriteVictor

If you're not someone who's grown up in the trenches of Reddit or similar spaces online, you may be reading an article and come across an acronym that you've never seen before. And as you read other comments, peruse the rest of the article, you find...

DriveWealth: Lowering the Barrier of Crypto Entry by Entering CEX Territory and Driving Down Fees

9 Feb 2022 3 minute read 0 comments Cje95

I know a lot of people might not agree with the statement I am about to make but there is good news on the centralized exchange or CEX front! For a while now this area has been dominated by the likes of Binance, Coinbase, and even Gemini to a point....

KLAYswap KSP: A Decentralized Exchange on the Klaytn Blockchain

8 Feb 2022 3 minute read 0 comments 2sats

*obligatory not financial advice*   What is KLAYswap? KLAYswap is a DEX for Klaytn tokens and the most used dApp on its blockchain. Klaytn is a blockchain that is very popular amongst businesses in Asia because it makes it easy for them to build thei...

Decentr is arriving to

7 Feb 2022 1 minute read 1 comment Cosmonauta

What is Decentr is all about?  As they claim: "Use your data as a payable value" You retain the payable value assigned to the secure data you generate on Decentr. Own your personal user data Each visit online remains part of your personal ID, which i...

How to Spot a Crypto Rug Pull Scam

7 Feb 2022 5 minute read 2 comments DailyCoin

Visit DailyCoin for more articles Crypto-related crimes broke new records last year with a 79% increase and damages of $14 billion in total. Rug pulls emerged as one of the most trending scam types with over $2.8 billion stolen from victims of De...

Transparency report - How do I contribute to Osmosis LPs

5 Feb 2022 1 minute read 0 comments Aldeneer

Good evening! Today I will show you how much I contribute to the osmosis decentralized exchange. I delegate some of my tokens and coins to liquidity pools to claim sweet rewards.  Pool #560 : UST / OSMO: 35 UST / 3.8 OSMO Pool #604 : STARS / OSMO: 52...

🔥 Digital Financial Exchange $DIFX 👉 Trade any asset class, from cryptocurrencies, stocks, commodities, indices, other cross-pairings and much more!

2 Feb 2022 1 minute read 0 comments FreedomBuilder

  🏦 $DIFX is already listed on CoinMarketCap: 🎁 Total Reward: Get $5 in $DIFX each for 1,000 Random participants + Top 100 ✅ Start Digital Financial Exchange airdrop Telegram Bot & Compl...

Cointracker Crypto Tax Compiler - Why Tax Reporting Pisses Me Off

2 Feb 2022 2 minute read 0 comments R23

Image Source   I personally don't understand how we as a society (America specifically here though I think it is the same around the world) allow for such heavy taxes to be imposed upon us without a real say in how they are spent and why tax returns...

Benefits of yield farming on STARS/OSMO pool [Not a financial advice]

28 Jan 2022 1 minute read 0 comments Aldeneer

Osmosis is the top DEX for cosmos hub related cryptocurrencies, but you probably know that already, what you might not know is that you can earn a pretty penny yield farming there. It is also very easy! But this article is not a tutorial on how to fa...