What Are DeFi Exchanges?

Decentralized finance (DeFi) exchanges are digital platforms that allow users to trade cryptocurrencies and other digital assets in a decentralized manner without the need for a central authority or intermediary. These exchanges are built on blockchain technology, which enables them to operate on a peer-to-peer basis. This means that transactions are directly between users without a bank or financial institution acting as a middleman. DeFi exchanges typically offer a wide range of trading pairs, including popular cryptocurrencies such as Ethereum,…