Non-custodial: Unlike centralized exchanges, DEXs are non-custodial, meaning that they do not hold your funds. Instead, you hold your own private keys and have full control over your funds. This reduces the risk of theft and hacking, as there is no central point of failure
Open Source: DEXs are typically open source, which means that anyone can view the code and identify
potential security vulnerabilities. This encourages community-driven security audits and makes it more
difficult for malicious actors to exploit vulnerabilities.
No KYC: Many DEXs do not require Know Your Customer (KYC) verification, which means that users can trade anonymously. This protects user privacy and prevents the exchange of sensitive personal
Decentralized exchanges offer a range of security and privacy benefits for cryptocurrency traders and investors. By understanding the security and privacy features of DEXs and following the tips outlined in
this article, you can stay safe and protect your funds and personal information when using these