What is a Decentralized exchange? It is an exchange market where the transactions occur directly between users through P2P (Peer-to-Peer) without relying on a third-party service provider. Instead of a centralized server, the exchange will use a network of nodes. Decentralized exchanges will provide a solution for all the three limitations of centralized exchanges as given below.
- Users will get full control over their funds as they are trading directly with other users using P2P. Also, they can access their wallets to withdraw funds at any point in time as it is not controlled by a third party.
- There will not be any risk of server downtime as the exchange is operated by a distributed network of nodes.
- Decentralized exchanges provide more privacy as there is no need to disclose your personal information to the exchange. If needed, you can provide your personal details only to the buyer/seller with whom you are making the transaction.
Sounds Interesting? DEEX is one such decentralized exchange that is under development. The main objective of DEEX to provider the users a friendly and flexible platform to buy, sell/trade any type of cryptocurrency. Initially, the exchange will provide support trading/exchange for the Top 10 cryptocurrencies like Bitcoin, Ether, Litecoin, etc. Please visit their official whitepaper https://deex.exchange/docs/DEEX_wp-2.0_eng.pdf to learn more information about DEEX.
Besides a user-friendly platform, DEEX also provides the following features.
- DEX Messenger
- All-in-one debit card
- Crypto ATMs
- Decentralized Blockchain Fund
The company is also planning to release the mobile application of the DEEX platform soon. It will be releasing its utility tokens named DEEX.CORE which can be used to access the platform.
Kindly visit https://deex.exchange/ to know the latest information about the token sale event.
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