A decentralized crypto exchange (DEX) is a platform that allows users to trade cryptocurrencies without relying on a centralized authority or intermediary. DEXs use blockchain technology to facilitate peer-to-peer transactions in a secure and transparent manner. Unlike centralized exchanges, which store funds in centralized wallets, decentralized exchanges ensure that users retain control over their assets. This results in improved privacy, lower fees, and reduced risks of hacking. Decentralized exchanges are becoming increasingly popular for users who value control and security in their crypto trading activities.