> For the complete documentation index, see [llms.txt](https://docs.bitfoot.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bitfoot.com/new-to-crypto/understanding-cexs-and-dexs/what-are-dexs.md).

# What are DEXs?

**Decentralized Exchanges (DEXs)** are trading platforms that let you buy, sell, or swap cryptocurrencies directly with others, without needing a central company. Unlike Centralized Exchanges (CEXs), DEXs run on blockchain networks, which means transactions happen directly between users through **smart contracts**—self-executing agreements coded into the blockchain.

Some of the most popular DEXs include:

* [**Uniswap**](https://app.uniswap.org/) (Ethereum-based)
* [**Raydium**](https://raydium.io/) (Solana-based)

### **What Can You Do on a DEX?**

DEXs allow users to:

**Trade Directly**

* You can swap tokens with other users directly from your wallet without creating an account or going through a verification process.

**Access a Wide Range of Tokens**

* DEXs often list tokens not available on CEXs, making them popular for users seeking new or smaller tokens.

**Participate in DeFi**

* DEXs are a core part of **Decentralized Finance (DeFi)**, letting users earn yield through staking, providing liquidity, or participating in token pools.

## DEX Aggregators

**DEX aggregators** are platforms that connect to multiple DEXs at once, automatically finding the best price across them. When you place a trade on a DEX aggregator, it can split your order or route it through the most favorable exchanges to give you the best possible deal.

Popular DEX aggregators include:

* [**1inch**](https://app.1inch.io/) (for Ethereum and multiple other chains)
* [**Jupiter**](https://jup.ag/) (for Solana)

**Advantages of Using DEX Aggregators**:

**Better Prices**

* Aggregators search multiple DEXs to find the lowest prices and best exchange rates, saving you money on trades.

**Reduced Slippage**

* By spreading large trades across several DEXs, aggregators help reduce slippage (the difference between the expected price and the actual price due to low liquidity).

**Efficiency**

* Aggregators allow you to access liquidity from multiple sources through a single platform, making trading faster and easier.