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decentralized crypto exchange (DEX) allows users to trade cryptocurrencies without a central authority. Transactions occur peer-to-peer, which enhances privacy and security. Unlike traditional exchanges, DEXs don’t store users' funds, reducing the risk of hacks and theft. They leverage smart contracts and blockchain technology to facilitate trades, ensuring transparency and immutability. DEXs offer a wide range of tokens and low fees, attracting users seeking more autonomy over their assets. The decentralized nature also provides higher resistance to censorship, which is a major advantage over centralized exchanges.
