- What is Dex?
- DEX vs CEX
- How to use DEX?
- How does Droidex help you save money on swaps?
- How to swap crypto on a DEX without fees?
What is DEX?
Decentralized Exchanges (DEX) are platforms in the cryptocurrency sector that facilitate peer-to-peer (P2P) trading of digital assets without relying on a central authority. One of the key advantages of DEXs is to let you control over your funds, as trades occur directly between users wallets.
DEX vs CEX
Centralized exchanges (CEX) like Binance, Bybit, Coinbase, OKX, Huobi, Gate.io, etc., have full access and control over your funds. While you might trust them, there’s a risk of being blocked for any reason or without it. Additionally, CEXs are vulnerable to hacks and fishing, which potentially result in financial loss.
Therefore, a safer approach to managing your crypto assets is to use your own cryptocurrency wallet and transfer assets though blockchain.
DEXs operate on blockchain technology, connecting to your personal wallet, such as Metamask, Trust Wallet, Uniswap, Rainbow, Phantom, Exodus, Ledger, etc and do not hold users’ funds, whereas CEXs do. This approach enhances security and transparency. Additionally, you can swap crypto assets without identity verification (KYC) and exchange crypto without the fear of being blocked. DEXs have more listed tokens, which could provide you with an advantage when you want to buy them before listing on a CEX, when prices will rise.
If you want to swap your token more safely – DEX will be a better way, but technically fees for gas could be higher because of blockchain transactions. However, Droidex.io helps users find the best real-time prices among DEX platforms to minimize these costs.
How to use DEX?
Using a DEX is not as complex as it may seem:
1. Connect your cryptocurrency wallet Metamask or other to the DEX platform Droidex.io
2. Select the tokens you wish to exchange on Droidex.io
3. Confirm the swap.
*If you don’t have crypto. Click in our menu “Partners” – “Buy crypto” or “Loan crypto”.
How does Droidex help you save money on swaps?
Droidex.io helps you automatically analyze and provide the best price offer among 20+ popular DEX platforms, such as Uniswap, SushiSwap, PancakeSwap, AugustusRFQ, Balancer, Curve, etc.
How to swap crypto on a DEX without fees?
Technically, you can’t swap without fees because of blockchain transactions, but we find the best real-time price among DEXs. Let’s try to swap crypto smartly with Droidex.io