Centralized and decentralized exchanges both have advantages and disentangles based on what they are used for. The main difference between the two is the existence of the middleman (or a third party), which helps conduct the transactions in the centralized exchange.

The rising DeFi sector has been decentralized exchanges (DEXes), upon which users can trade tokens 24/7 and in a non-custodial and permission-less fashion. DeFi or decentralized finance came as an idea to avoid control and the heavy hand of central banks by a group of crypto enthusiasts in 2017. …

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