The fundamental difference between centralized exchanges (CEX) and decentralized exchanges (DEX) is whether user funds are custodial or non-custodial. Decentralized exchanges are non-custodial asset trading platforms, typically not controlled by any central entity, and generally reduce or eliminate the involvement of intermediaries through various methods to lower counterparty risk. DEX users do not need to relinquish control of their assets to any custodian; they can trade directly from their own cryptocurrency wallets by interacting with smart contracts. Therefore, DEXs are permissionless, requiring no KYC, registration, or other processes—anyone with a decentralized wallet can use their features. $ORDER $MOODENG $SDEX
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The fundamental difference between centralized exchanges (CEX) and decentralized exchanges (DEX) is whether user funds are custodial or non-custodial. Decentralized exchanges are non-custodial asset trading platforms, typically not controlled by any central entity, and generally reduce or eliminate the involvement of intermediaries through various methods to lower counterparty risk. DEX users do not need to relinquish control of their assets to any custodian; they can trade directly from their own cryptocurrency wallets by interacting with smart contracts. Therefore, DEXs are permissionless, requiring no KYC, registration, or other processes—anyone with a decentralized wallet can use their features. $ORDER $MOODENG $SDEX