What is a DEX?

Decentralized exchanges are a kind of cryptocurrency exchange that enables direct peer-to-peer cryptocurrency transactions to take place online and without the use of an intermediary. A DEX is based on the concept of "deregulation," which implies removing middlemen to let regular people do business directly with one another. 

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The primary goal of a DEX is to address the problems associated with centralized exchanges in which users must be identified, and have their assets kept in company accounts at all times. 

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A DEX, on the other hand, does not provide users with custody of their crypto assets. Instead, users keep all of their assets in their wallets at all times, allowing them to manage their funds freely. As a result, neither hacking attempts nor the complete failure of the exchange can result in a loss of assets.

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The lack of a single entry point through which to obtain access to all assets and data complicates efforts for hackers and renders any attack worthless, a main distinguishing component of decentralized exchanges from more vulnerable centralized ones.