The Top Decentralized Exchanges (DEXs) in 2021
D ecentralized Exchange is a kind of cryptocurrency exchange that allows users for peer-to-peer cryptocurrency transactions to take place online securely and without the need for a middleman. Users do not need to transfer their cryptocurrencies (digital assets) to the exchange. It reduces the risk of theft and hacking of centralized Exchanges. What is a Decentralized Exchange: Decentralized exchanges are one of the key building blocks of the decentralized finance (DeFi) ecosystem. A DEX is a platform where users can trade cryptocurrency directly with each other, without using a middleman. A traditional centralized exchange like Binance, for example, acts as a custodian on your behalf, with any trading taking place on Binance’s database, rather than directly on the blockchain itself. While this is a more beginner-friendly way to trade, it has its downsides. For one thing, a centralized exchange presents a single point of failure, meaning that you could lose access to y...