What are decentralized exchanges, and how do DEXs work?

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alexsari
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Joined: 26 Sep 2022, 07:14

What are decentralized exchanges, and how do DEXs work?

A decentralized exchange (DEX) is an online peer-to-peer (P2P) cryptocurrency exchange service which operates without central authority responsible for asset storage and swapping. This service allows quick and easy cryptocurrency transactions between two interested parties without unnecessary movement of crypto funds with attached fees and complete anonymity.

As a reputed blockchain-based entity, Global Digital Cluster Coin yearns to increase the adoption of crypto assets by introducing its own decentralized exchange, https://www.hopium.finance. It allows users to purchase, sell, trade, stake, and withdraw crypto assets instantly and securely.

As decentralized trades are based on top of blockchain networks that support smart agreements and where clients keep guardianship of their assets, each exchange causes an exchange charge alongside the exchange expense. Fundamentally, traders interact with smart contracts on the blockchain to use DEXs.
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