Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
What is Decentralized Exchange (DEX) in Cryptocurrency?
A decentralized exchange (DEX) is a cryptocurrency exchange that operates without a central authority. Decentralized exchanges allow peer-to-peer trading of cryptocurrencies. This means that users can trade directly with each other without needing a middleman. Decentralized exchanges are often built on blockchain technology and can be trustless and secure.
Some popular decentralized exchanges include IDEX, Bisq, and EtherDelta. Decentralized exchanges have many advantages over centralized exchanges. They are often more secure and private, as they do not hold user funds. They also offer transparency, as all trades are public on the blockchain. However, decentralized exchanges can be less user-friendly than centralized exchanges and may have lower liquidity.