Basic meaning of Dex

[naturelover]

What is Dex?

My personal understanding,

Decentralized exchange on the other hand is like an open air marketplace, unlike Trading in shopping malls, here you make purchases directly with other people, no one is managing the whole thing, so you keep full control of your private keys and funds until the trade happens. In fact on Dex you get the benefits your freedom and privacy. But just like any market all you need to do is to stay sharp and aware of what's going on.

A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto's core possibilities: fostering financial transactions that aren't officiated by banks, brokers, or any other intermediary. Many popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain.

example of DEX:

Uniswap, Pancakeswap, Sushi swap, others.

Ref: https://www.coinbase.com/learn/crypto-basics/what-is-a-dex