A decentralized exchange (DEX) is a partly automated cryptocurrency exchange network where customers’ personal records, account balances, portfolio allocations, and fund positions are never held by a third entity. In other words, there are no servers operated from a central location, removing a single point of failure. Trading any cryptocurrency on a decentralized exchange is uncommon because it avoids the limitations of centralized platforms. They allow users to buy and sell cryptocurrencies directly from one another, eliminating the need for a middleman.

A blockchain network is usually used for the most popular Decentralized exchange. With blockchain’s growing usefulness, the world is heading toward a trustless economy, eliminating the need for a middleman to share goods and services. The blockchain group recognizes the dangers of cryptocurrency dealing and uses Decentralized Exchanges to improve the trading experience. The key concept here is that traders should keep control of their funds.