BTC $69 226.00 ▼ 4.05% ETH $1 977.38 ▼ 0.36% USDT $0.9986 ▼ 0.02% BNB $677.39 ▼ 2.38% XRP $1.2600 ▼ 3.38% USDC $0.9997 ▲ 0.00% SOL $78.8200 ▼ 2.49% TRX $0.3409 ▼ 2.45% FIGR_HELOC $1.0420 ▲ 2.12% HYPE $72.8500 ▼ 1.30% BTC $69 226.00 ▼ 4.05% ETH $1 977.38 ▼ 0.36% USDT $0.9986 ▼ 0.02% BNB $677.39 ▼ 2.38% XRP $1.2600 ▼ 3.38% USDC $0.9997 ▲ 0.00% SOL $78.8200 ▼ 2.49% TRX $0.3409 ▼ 2.45% FIGR_HELOC $1.0420 ▲ 2.12% HYPE $72.8500 ▼ 1.30%
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Home›Wiki›DEX (decentralized exchange)
Term

DEX (decentralized exchange)

An exchange with no intermediary: trades happen directly through smart contracts from your wallet (Uniswap, PancakeSwap).

A DEX lets you trade crypto without registration or keeping funds on the exchange. Liquidity is provided by user pools, and trades are executed by smart contracts. The downsides are network fees and slippage risk.

See also

CEX (centralized exchange)
An exchange operated by a company that holds users' funds (Binance, Bybit, OKX).
DeFi (decentralized finance)
Financial services (swaps, loans, interest) built on smart contracts that work without banks or intermediaries.
Smart contract
A program on the blockchain that automatically executes the terms of a deal without intermediaries.
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