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Decentralized Exchanges

Summary

Decentralized Exchanges (sometimes referred to as 'non-custodial exchanges') allow for the trading of crypto assets without the need for a trusted central authority. This cuts down on the risk of exchange hacks and many other risks. There are many types of decentralized exchanges and it's important to understand the differences.

Different types of DEXs:

  • Off-chain order book
  • Peer-to-peer
  • Pool-based
  • Aggregators

Resources: