Why do we need decentralized crypto exchanges?

10 000 question challengeCategory: Disruptive modelsWhy do we need decentralized crypto exchanges?
tokenh6_wp Staff asked 3 years ago
1 Answers
tokenh6_wp Staff answered 3 years ago

Here is a short list of advantages of decentralization of exchanges
A decentralized crypto exchange is many things, but we believe an exchange that has following features qualifies to be a DEX:

  • An exchange that allows its users to control their crypto funds.
  • An exchange that doesn’t have a single point of failure like centralized server hostings or databases that are prone to hacks.
  • An exchange that has no trusted third party setups.
  • An exchange that no government can shut down like the Chinese exchange shutdowns.
  • An exchange that is not controlled by a single or group of companies.
  • An exchange that respects the privacy of its users and doesn’t ask for numerous registrations and KYC verifications.