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Decentralized Exchanges (DEXs) are blockchain-based platforms that allow users to trade digital assets directly with one another, without relying on a central authority or intermediary. Unlike centralized exchanges that hold your funds and manage transactions, DEXs use smart contracts to enable peer-to-peer trading in a secure, transparent, and trustless manner.

When you use a DEX, you retain full control of your private keys and assets. Transactions are executed directly from your wallet, reducing the risk of hacks or custodial loss. Popular DEXs like Uniswap or PancakeSwap operate on specific blockchain networks and typically offer lower fees, faster settlement, and greater privacy.