
Decentralized Exchanges (DEXs) Explained
The rise of decentralized exchanges (DEXs) has significantly transformed the cryptocurrency trading landscape, offering users enhanced privacy, security, and control over their assets. Unlike traditional centralized exchanges (CEXs), which are governed by third-party entities, DEXs allow users to trade directly with each other through smart contracts and retain full control of their private keys and funds. This article explores the core features, types, benefits, and risks of DEXs, helping users navigate the evolving world of decentralized finance (DeFi).