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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. 

Uniswap UNI: The Decentralized Exchange and its Automated Market Maker

12 Jan 2022 4 minute read 1 comment 2sats

*obligatory not financial advice*   What is Uniswap? Uniswap was one of the first few decentralized exchanges on the Ethereum blockchain. It doesn't use an order-book system to match buy and sell orders but instead uses provided liquidity to offer in...

12 JAN 2022 (WED)- Injective Protocol (INJ) Report Card

12 Jan 2022 8 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...

Secret Finance SEFI: A Privacy DEX on the Secret Network Blockchain

11 Jan 2022 4 minute read 0 comments 2sats

*obligatory not financial advice*   What is SecretSwap? SecretSwap is a decentralized exchange on Secret Network. The transactions with it are encrypted thanks to the nature of its blockchain and the DEX offers its users privacy by default. There are...

Best Cryptocurrency Exchanges 2022

10 Jan 2022 5 minute read 4 comments SimpleHold

It’s been a while since the first cryptocurrency came to the world in 2009, the field became more expansive, and it’s literary growing every single day. People store, trade, and invest in crypto, they take it quite seriously and consider it a passive...

The Advantages of Cryptocurrency Exchanges | CoinChanger

10 Jan 2022 5 minute read 0 comments Coin_Changer

What are cryptocurrency exchanges?    Simply put, a cryptocurrency exchange is a platform that matches buyers of various coins or tokens with sellers. For the most part, it works like a normal exchange for any other asset, such as stocks. However, u...

Swipe SXP and its Cryptocurrency Card Payment Infrastructure and DeFi Applications

6 Jan 2022 4 minute read 2 comments 2sats

*obligatory not financial advice*   What is Swipe? Swipe is partnered with major payment networks like Visa and MasterCard to offer businesses the necessary infrastructure for creating and issuing their own cryptocurrency-to-fiat payment cards that a...

🚀 GT-Protocol 👉 For DeFi investment pools management & decentralized copy trading on DEXes.

6 Jan 2022 1 minute read 0 comments FreedomBuilder

  ✨ The MVP is an official partner of Binance already.☑️ GT-Protocol allows to create a DeFi smart-contract pools for collecting liquidity from contributors with further liquidity management on DeFi markets. Contributors funds are transparently manag...

A Deeper Dive Into Avalanche (AVAX) & Why It Has & Most Likely Will Surpass Bitcoin In ROI's

5 Jan 2022 6 minute read 5 comments Mauri Clover

As the popularity of cryptocurrencies grows, innovation is needed to make transactions as smooth and seamless as possible. That is where avalanche in its native token, AVAX come in.Avalanche is a relatively new blockchain, which was launched in Septe...

DODO: The Next Generation of Decentralized Echanges

5 Jan 2022 3 minute read 3 comments 2sats

*obligatory not financial advice*   What is DODO? DODO is a decentralized exchange that features a unique AMM to keep the prices more stable and the slippage and impermanent loss low. It also gives developers the option to launch their own new tokens...

Index Cooperative — Community owned Asset Manager

3 Jan 2022 8 minute read 0 comments EverythingBlockchain

  Public awareness and adoption of blockchain technology and the crypto industry are on the rise. DeFi or decentralized finance has contributed to the growth and launch of several sophisticated open-financial systems and tools that don’t rely on bank...