What is Decentralized Exchange: A Comprehensive Guide!
johnkammy last edited by
What is a Decentralized Exchange?
A decentralized exchange is a platform that eliminates the middleman and allows the users to trade cryptocurrency directly with one another. This ensures that the traders are in full control of the funds at all times of the transaction.
The decentralized exchanges eliminate the risk of hacking due to the distributed network of the nodes. They also overcome the issue of server downtime which is faced by the users during trading.
They provide an open and transparent network that makes crypto trading accessible to everyone. There are several decentralized exchanges that are already live and offering peer-to-peer trading across a range of cryptos.