What is DEXs?
Decentralized Exchanges
These are decentralized platforms where users trade digital assets directly with each other without an intermediary institution or bank.
Overview
On traditional exchanges, you conduct your transactions through a company's servers. DEXs remove this company from the equation and execute transactions directly via smart contracts on the blockchain. This ensures that you always retain control of your assets.
How it works
You connect your digital wallet to the platform, select the asset you want to trade, and once the transaction is confirmed, the trade occurs automatically.
Where it is used
They are used in cryptocurrency markets, decentralized finance (DeFi) projects, and transactions where users prioritize privacy.
Commonly confused with
They can be confused with centralized exchanges (CEX).
Frequently asked questions
Do I need to trust someone when using DEXs?
No, you do not need to trust a person, but rather the code itself (smart contracts).
Do I pay a transaction fee?
Yes, there are transaction fees (gas fees) paid to miners or validators on the network.
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 →