Introduction
Decentralized exchanges (DEXs) redefine global crypto exchange dynamics by offering direct asset control and reducing hacking risks.
They prevent market manipulation and ensure privacy without KYC requirements, making them pivotal in crypto exchanges in India.
DEXs provide a diverse range of cryptocurrencies, including exclusive altcoins, enhancing security and fairness compared to centralized exchanges (CEXs) for transactions like BTC to INR conversions.
3 Benefits of Global Crypto Exchange
Custody
- Users of decentralized exchanges can retain control of their assets without transferring them to a third party.
- Therefore, there is no risk of a company or organization being hacked, providing users with greater protection from hacking, system failures, fraud, or theft.
Preventing market manipulation
- Because decentralized exchanges enable peer-to-peer cryptocurrency transactions, they prevent market manipulation and protect users from fake and wash trading.
Less censorship
- Decentralized exchanges offer privacy and anonymity to users by not requiring them to fill out know-your-customer (KYC) forms.
- Since DEXs don’t exercise censorship, they offer a wider range of cryptocurrencies and digital assets than CEXs. Several altcoins can only be found on DEXs.
Conclusion
Decentralized exchanges (DEXs) empower users with asset control, enhance security against hacking, prevent market manipulation, and offer broader asset choices, making them pivotal in global and in every Indian crypto exchange app.
