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DEX - Decentralized EXchange

A DEX is a Decentralized EXchange

It's a place where you can Exchange one token or coin for another.

Uniswap is a popular one.

You must convert your currency like US Dollar to a stable coin first exchanging for a different coin.

The fees for convert an Ethereum token can be high right now.

You'd use a DEX when the token you want isn't traded on the exchange you're using or if you don't want to go through KYC (Know Your Customer) or AML (Anti-MoneyLaundering)

Additional Research
  • Decentralized Exchange

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