A cryptocurrency exchange that runs on a blockchain via smart contracts, with no central operator.
Examples: Uniswap, Curve, PancakeSwap. Users trade peer-to-peer from their own wallets — no signup, no custody. Higher gas costs than centralized exchanges (CEX) but no counterparty risk. AMM model dominates DEX volume.
A cryptocurrency exchange that runs on a blockchain via smart contracts, with no central operator. Examples: Uniswap, Curve, PancakeSwap. Users trade peer-to-peer from their own wallets — no signup, no custody. Higher gas costs than centralized exchanges (CEX) but no counterparty risk. AMM model dominates DEX volume.
In crypto, DEX (Decentralized Exchange) is one of the building blocks investors use to compare opportunities and assess risk. Understanding it helps you read research notes, earnings reports, and market commentary without getting lost in jargon.
Examples: Uniswap, Curve, PancakeSwap. Users trade peer-to-peer from their own wallets — no signup, no custody.
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