What is DEX?
Decentralized Exchange
These are platforms where users can trade their digital assets directly with each other without an intermediary institution or bank.
Overview
Unlike traditional exchanges, you do not entrust your money to a company on decentralized exchanges. Transactions take place on the blockchain through automated rules called smart contracts. This way, you retain full control, and no one can freeze your account.
How it works
You connect your digital wallet to the platform, select the assets you want to trade, and confirm the transaction to execute the swap.
Where it is used
It is used in the trading of crypto assets and the world of decentralized finance (DeFi).
Commonly confused with
It should not be confused with centralized exchanges (CEX); on centralized exchanges, your assets are under the company's control.
Frequently asked questions
Is it necessary to sign up to use a DEX?
No, you only need to connect a digital wallet; no identity information is required.
Is a DEX safe?
Since there is no intermediary, you have control over your assets, but one should be cautious against smart contract vulnerabilities.
Related terms
This explanation was written in plain language for TreScout and machine-translated from the Turkish original · the Turkish version prevails. If something looks wrong or missing, write to hello@trescout.com. Read in Turkish →