A decentralized exchange (Decentralized Exchange or DEX) is a platform generally built on blockchain technology, without the need for a central intermediary to process transactions. In this type of exchange, users can exchange crypto assets directly through their digital wallet.

Decentralized exchanges are generally considered more secure as users do not need to entrust their cryptocurrencies to exchange accounts. Technologies such as smart contracts and smart contracts automate trading transactions and put them under full control of users.

These exchanges may offer advantages such as censorship resistance, greater privacy and user anonymity, unlike traditional centralized exchanges, but may also need to pay attention to liquidity issues and user experience issues.