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DEX
2026-07-23 17:15:15

What Is a DEX and How Do Decentralized Exchanges Work?

A DEX lets users trade crypto directly through smart contracts and liquidity pools without handing assets to a third party. This article breaks down how DEXs work, how they differ from CEXs, common models, fees, leading platforms, and risks.

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What Is a DEX and How Do Decentralized Exchanges Work?