A decentralized crypto exchange (DEX) is an exchange platform that is not governed by any central authority. People use these marketplaces to trade cryptos. Also, in the case of DEX, a private key is controlled only by the user.
Highlights Of DEX!
These are marketplaces where cryptocurrency buyers and sellers deal directly without a mediator. The trader can keep the funds and assets in his wallet, and only he can access them.
Users on decentralized exchanges can trade without completing any kind of KYC. Anyone with a crypto wallet can trade on these marketplaces without any restrictions.
Since DEX are decentralized, it is challenging to govern. Therefore, there are no conditions for them to adhere to rules in case of operations.
Cryptocurrency Exchange development company
The majority of decentralized exchanges are designed to run on a specific blockchain. Interestingly, they are now beginning to accommodate many blockchains due to recent improvements.
https://blog.blockchainfirm.io/how-to-setup-decentralized-crypto-exchange/
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