📄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:
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:
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.
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