How do decentralized exchanges differ from traditional ones?

ekta

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Decentralized exchanges (DEX) differ from traditional exchanges by operating without authority. In DEX users trade directly from their wallets, retaining control over their private keys and funds. This reduces the risk of hacking and enhances privacy. In contrast, traditional exchanges act as intermediates, holding users' funds in centralized wallets. DEX reflects the decentralized ethos of cryptocurrencies. prioritizing user control and security.
 
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nomad

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Jun 22, 2022
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Decentralized exchange does not have authority where as centralized exchange has a central authority. When you use DEX, you own your crypto assets, and when you use CEX, you do not have control over your assets
 
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