A decentralized crypto exchange (DEX) is a blockchain-based platform that enables users to trade cryptocurrencies without relying on a central authority. Unlike centralized exchanges, DEXs give users complete control over their funds and private keys. They use smart contracts to execute trades securely and transparently. Decentralized crypto exchanges are known for enhanced security, privacy, and censorship resistance. Popular examples include Uniswap and PancakeSwap. These platforms support token swaps, liquidity pools, and yield farming, making them essential tools in the DeFi ecosystem.
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