Exchanges serve as the most common example of cryptocurrency usage today.

Decentralized Exchanges (DEXs)

Decentralized exchanges are crypto-native marketplaces that algorithmically determine the price between two or more assets. These exchanges use an automated market maker to instantly fill orders using a price defined by an algorithm.



Aggregators query all decentralized exchanges to find the best opportunity to trade assets.

Centralized Exchanges (CEXs)

Centralized exchanges define places tokens are traded and managed by a central order book, similar to traditional financial systems.


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