Vast variety
DEXs have a virtually unending supply of tokens, ranging from well-known to strange and odd. There will be a large number of projects to pick from, both verified and unvetted, because anyone may create an Ethereum-based token and a liquidity pool for it.
Reduction of hacking risks
The funds in a DEX trade are entirely held in the traders' wallets, making them less vulnerable to a hack.
Anonymity
In DEXs, no personal information is required for any kind of authentication.
Utility
DEXs have grown in popularity in developing countries where a strong banking system is lacking. Peer-to-peer lending, rapid transactions, and anonymity are all possible with them. Anyone with a smartphone and an internet connection can trade on a DEX.
How does decentralized decision-making help?
On the other hand, decentralizing decision-making reduces delays, increases product development flow and throughput, and provides for more quick feedback and inventive solutions. It also comes with a premium because of the advanced degrees of empowerment.
How does DEX trading work?
DEX is a peer-to-peer cryptocurrency exchange that allows users to trade with one another directly. Financial transactions that aren't mediated by banks, brokers, payment processors, or any other third party are one of crypto's most basic functionalities.
