DEX (Decentralized Exchange)
A trading platform where you keep control of your money. Nobody else holds your funds - trades happen directly from your wallet.
Example
Swapping ETH for USDC on Uniswap without creating an account. The trade goes straight from your wallet to a liquidity pool.
Related Terms
Tools & Protocols
⚙️How It Works
- 1
Connect Wallet
Link your crypto wallet to the DEX website
- 2
Select Trade
Choose which tokens you want to swap
- 3
Approve & Swap
Sign the transaction with your wallet
- 4
Direct to Wallet
New tokens appear in your wallet immediately
⚖️DEX vs CEX
| Feature | dex | cex |
|---|---|---|
| Custody | You control funds | Exchange holds funds |
| KYC Required | No | Yes |
| Trading Speed | Slower (blockchain) | Faster (internal) |
| Token Selection | Any token | Listed tokens only |
| Hack Risk | Smart contract bugs | Exchange security |
🚀Getting Started
- 1Get a wallet like MetaMask or Rainbow
- 2Buy some ETH for gas fees (or native token of your chain)
- 3Visit a DEX like Uniswap, Curve, or TraderJoe
- 4Start with small trades to learn the process
- 5Always verify you're on the real website, not a phishing site