Benefits of Decentralized Cryptocurrency Exchanges

Decentralized exchanges for cryptocurrencies provide a number of advantages over centralised exchanges.

Selecting coins
One of the biggest advantages to using a decentralized crypto exchange is that the coin selection is often enormous. DEXs make it easy for new coins to list, so traders and investors can access emerging cryptocurrencies very early on. Many cryptocurrencies spike in price after launching on a DEX, so this could be a big advantage for traders in search of the next big token.

Privacy
Decentralized exchanges typically do not require identity verification or other Know Your Customer (KYC) measures. This means that traders can buy and sell crypto on an exchange in near-total anonymity.

Low Fees
Trading fees on decentralized crypto exchanges are often lower than those on centralized exchanges. That’s because there’s less work and risk involved for the exchange itself since the exchange never holds tokens as a middleman.

DeFi Access
Many of the best decentralized exchanges are also DeFi platforms that offer crypto staking. Traders who use a DEX can stake their tokens to a liquidity pool to support the exchange’s operations and earn interest on their crypto.

Conclusion

The best decentralized exchanges enable traders to buy or sell crypto without using a middleman. They offer reduced trading fees, privacy, a greater coin selection, and access to yield-generating DeFi staking.