Cryptocurrency exchanges provide an important source of liquidity to the world cryptocurrency market, facilitating billions of dollars in trading volume on a day to day. As this market expands, leading exchange platforms still scale in response to the demand for digital assets, offering asset custody, new trading features and functionality, and access to an ever-growing number of digital assets. Here’s all you wish to understand about how to use a decentralized exchange!
Decentralized exchanges take a unique approach to purchasing and selling digital assets: They operate without an intermediary organization for clearing transactions, relying instead on self-executing smart contracts to facilitate trading. Such an exchange helps in instantaneous trades that too at a lower cost than on centralized crypto exchanges.
In the absence of intermediaries, DEXs tackle a non-custodial framework. this implies that you simply retain custody of your cryptocurrency and are liable for managing your wallets and personal keys. However, this comes with the danger that your keys could wander off, stolen, or destroyed; or within the unlikely possibility that you simply become incapacitated or depart this world suddenly, if nobody knows your password, your keys can’t be accessed.
