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What is DEX (Decentralized Exchange)?
A DEX is a crypto exchange that operates without a central authority, using smart contracts for peer-to-peer trading. Uniswap, PancakeSwap, and Jupiter are popular DEXs.
Full Explanation
A Decentralized Exchange (DEX) enables peer-to-peer trading of cryptocurrencies without an intermediary. Instead of order books, most DEXs use Automated Market Makers (AMMs) — smart contracts that maintain liquidity pools. Users trade directly from their wallets, maintaining full custody of funds. Key DEXs: Uniswap (Ethereum), PancakeSwap (BNB Chain), Jupiter (Solana), Raydium (Solana). DEX advantages: no KYC, no custody risk, access to new tokens immediately. Disadvantages: higher slippage, MEV attacks, smart contract risk.
Example
To swap ETH for a new DeFi token not yet listed on CoinDCX, you'd use Uniswap — connect your MetaMask wallet, select the tokens, and swap. No registration needed.
Related Terms
Last updated: 2026-03-21
