Decentralised Cryptocurrency Exchange (DEX) What is a Decentralised Cryptocurrency Exchange? A decentralised cryptocurrency exchange (DEX) enables peer-to-peer trading of digital assets without the need for a central authority, providing greater control and privacy to users. Explanation DEXs use blockchain technology to facilitate transactions directly between users, eliminating intermediaries and reducing the risk of centralised failures. Practical Example A user trades Ethereum on Uniswap, a popular DEX, without creating an account or relying on a third-party platform for custody.