What is a Decentralized Exchange (DEX)?
A decentralized exchange serves the same function as a centralized exchange, like the ones mentioned above, but the technical infrastructure is decentralized.
Why use DEXs in addition (or instead) of Centralized Exchanges?
The advantage of decentralized exchanges is that the users do not need to deposit funds to the exchange, so they can keep their funds secure in their wallet. Ultimately, users maintain greater security when using DEXs, but they are often more difficult to use and have less liquidity.
What are the best DEXs?
IDEX is one of the oldest decentralized exchanges that is still running today. They are web-based and have a sleek user interface. They also have enough liquidity where the average trader will have no issues getting their orders filled.