A decentralized exchange is an exchange portal which does not depend on any other third party services to control the customer’s digital funds. Here the trading happens directly between user to user and there is no work for admin to manage the funds. And the traders don’t need to deposit their funds into admin account while initiating the transactions. Instead, they could directly trade from their own wallet . Decentralized exchange website will not store your private keys on a central cloud server.
Private keys are the important element to keep your wallet safe, decentralized exchange website will not share the private keys to anyone and prevents hacking.
Benefits of Decentralized Exchanges
1. Creates a trust for your exchange business
2. Requires zero KYC, but provide 100% privacy
3. No need to transact your funds to a third party wallet before initiating the trading.
4. User have full access to control funds.
5. No Hacks and no server downtime
and more ..