What is a decentralized crypto exchange?

Decentralized crypto exchanges (DEXs) are blockchain -based apps that coordinate large-scale trading of crypto assets between many users. They do that entirely through automated algorithms, instead of the conventional approach of acting as financial intermediary between buyers and sellers.

What is the best decentralized cryptocurrency exchange?

OKX is the best decentralized exchange. It supports 70+ network standards, is compatible with multiple device types, and offers some of the best DeFi yields in the space. Should you trade cryptocurrency on DEXs? Crypto DEXs are ideal if you want to trade cryptocurrencies anonymously, meaning no reliance on centralized third parties.

Do you need a decentralized exchange to trade cryptocurrencies?

Crypto DEXs are ideal if you want to trade cryptocurrencies anonymously, meaning no reliance on centralized third parties. There’s no requirement to open an account either – simply connect a wallet and begin trading. What is the cheapest decentralized exchange?