summary
What is a DEX?
- Decentralized exchange with no headquarters or company ownership, distributed virtually anywhere in the world.
- Counterpart is a CEX, a centralized exchange, run by a company with a legal headquarters.
Why DEX?
- Clear rules that only existing money can be traded, defined in the blockchain.
- Trust in a defined mathematical algorithm, no person can manually intervene and take control.
- Money on DEX belongs to the user, not the platform or any third party.
- Censorship-resistant, no state can censor or deny access.
- Non-discriminatory, open to everyone.
- Pseudonymity, no personal information is required.
- Based on a secure infrastructure of thousands of computers.
- IoT possible, trading is not limited to humans.
- No registration needed.
- Difficult to target, no power over the network or stored coins.
- Fast and fixed transfer times.
- Low fees, clearly regulated.
- Anonymous deposits from anywhere in the world.
