{"id":187,"date":"2025-05-08T01:03:19","date_gmt":"2025-05-07T16:03:19","guid":{"rendered":"https:\/\/coindetailshub.com\/?p=187"},"modified":"2025-05-08T01:03:20","modified_gmt":"2025-05-07T16:03:20","slug":"what-is-dex","status":"publish","type":"post","link":"https:\/\/coindetailshub.com\/en\/what-is-dex\/","title":{"rendered":"What is a DEX | Understanding Decentralized Exchanges"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><em>This page is about the <strong>Decentralized Exchange (DEX)<\/strong>is an informational piece of content that makes it easy to understand what decentralized exchanges are and how they work.<\/em><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#DEX%EB%9E%80_%EB%AC%B4%EC%97%87%EC%9D%B8%EA%B0%80%EC%9A%94\" title=\"What is a DEX?\">What is a DEX?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%96%B4%EB%96%BB%EA%B2%8C_%EC%9E%91%EB%8F%99%ED%95%98%EB%82%98%EC%9A%94\" title=\"How does it work?\">How does it work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%98%88%EC%8B%9C%EB%A1%9C_%EC%89%BD%EA%B2%8C_%EC%9D%B4%ED%95%B4%ED%95%98%EA%B8%B0\" title=\"Easily understand with examples\">Easily understand with examples<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EA%B0%80%EA%B2%A9_%EB%B3%80%EB%8F%99%EC%97%90_%EB%94%B0%EB%A5%B8_%EC%98%88%EC%8B%9C\" title=\"Examples based on price changes\">Examples based on price changes<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#BTC%EA%B0%80_2%EB%B0%B0%EB%A1%9C_%EC%98%AC%EB%9E%90%EC%9D%84_%EB%95%8C\" title=\"When BTC doubled\">When BTC doubled<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#BTC%EA%B0%80_%EC%A0%88%EB%B0%98_%EA%B0%80%EA%B2%A9%EC%9C%BC%EB%A1%9C_%EB%96%A8%EC%96%B4%EC%A1%8C%EC%9D%84_%EB%95%8C\" title=\"When BTC fell to half price\">When BTC fell to half price<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%B6%9C%EA%B8%88%ED%95%A0_%EB%95%8C_%EC%9E%90%EC%82%B0%EC%9D%80_%EC%96%B4%EB%96%BB%EA%B2%8C_%EB%8F%8C%EC%95%84%EC%98%A4%EB%82%98%EC%9A%94\" title=\"What happens to my assets when I withdraw?\">What happens to my assets when I withdraw?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%86%90%ED%95%B4%EB%A5%BC_%EB%B3%BC_%EC%88%98%EB%8F%84_%EC%9E%88%EB%82%98%EC%9A%94\" title=\"Can I lose money?\">Can I lose money?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EB%88%84%EA%B0%80_%EC%B0%B8%EC%97%AC%ED%95%A0_%EC%88%98_%EC%9E%88%EB%82%98%EC%9A%94\" title=\"Who can participate?\">Who can participate?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EB%8C%80%ED%91%9C%EC%A0%81%EC%9D%B8_DEX_%ED%94%8C%EB%9E%AB%ED%8F%BC\" title=\"Top DEX platforms\">Top DEX platforms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#DEX%EC%99%80_CEX%EB%8A%94_%EB%AD%90%EA%B0%80_%EB%8B%A4%EB%A5%BC%EA%B9%8C%EC%9A%94\" title=\"What&#039;s the difference between a DEX and a CEX?\">What's the difference between a DEX and a CEX?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%9D%B4%EC%9A%A9%EC%9E%90%EC%99%80_%EA%B3%B5%EA%B8%89%EC%9E%90%EC%9D%98_%EA%B4%80%EC%A0%90%EC%97%90%EC%84%9C_DEX_%EB%B3%B4%EA%B8%B0\" title=\"Viewing the DEX from a user and provider perspective\">Viewing the DEX from a user and provider perspective<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EC%9D%B4%EC%9A%A9%EC%9E%90_%EC%9E%85%EC%9E%A5_%ED%8A%B8%EB%A0%88%EC%9D%B4%EB%8D%94\" title=\"As a user (trader)\">As a user (trader)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EA%B3%B5%EA%B8%89%EC%9E%90_%EC%9E%85%EC%9E%A5_LP_%EC%9C%A0%EB%8F%99%EC%84%B1_%EA%B3%B5%EA%B8%89%EC%9E%90\" title=\"Provider Position (LP: Liquidity Provider)\">Provider Position (LP: Liquidity Provider)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EA%B0%80%EC%8A%A4%EB%B9%84Gas_Fee%EB%9E%80\" title=\"What is a Gas Fee?\">What is a Gas Fee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EB%B8%8C%EB%A6%AC%EC%A7%80Bridge%EB%9E%80\" title=\"What is a Bridge?\">What is a Bridge?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/coindetailshub.com\/en\/what-is-dex\/#%EB%A7%88%EB%AC%B4%EB%A6%AC_%EC%A0%95%EB%A6%AC\" title=\"Wrapping up\">Wrapping up<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DEX%EB%9E%80_%EB%AC%B4%EC%97%87%EC%9D%B8%EA%B0%80%EC%9A%94\"><\/span>What is a DEX?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    A DEX is a cryptocurrency exchange that allows direct trading between users without a centralized authority. <strong>Blockchain-based trading platform<\/strong>is the value.<br>\n    A typical example is <strong>Uniswap<\/strong>, <strong>PancakeSwap<\/strong>, <strong>SushiSwap<\/strong> and more, and you can start trading right away by simply connecting your wallet, no signup required.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 It's a 'wallet-to-wallet exchange' that allows you to swap coins instantly by connecting your wallet, no email signup required.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%96%B4%EB%96%BB%EA%B2%8C_%EC%9E%91%EB%8F%99%ED%95%98%EB%82%98%EC%9A%94\"><\/span>How does it work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    Most DEXs use the <strong>Automated Market Maker (AMM)<\/strong> method.<br>\n    Users deposit coins into a space called a \"liquidity pool,\" and transactions are executed based on an automatically calculated price based on this pool.<br>\n    With each transaction, the percentage composition of the pool changes and the price adjusts automatically.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 It automatically calculates and exchanges from a pool of coins that people put in.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%98%88%EC%8B%9C%EB%A1%9C_%EC%89%BD%EA%B2%8C_%EC%9D%B4%ED%95%B4%ED%95%98%EA%B8%B0\"><\/span>Easily understand with examples<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For example, let's say 1 BTC is worth 20,000 USDT.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>User A deposits 1 BTC + 20,000 USDT into the liquidity pool.<br><br>      \u2192 Liquidity pools totaling $20,000 in value created<\/li>\n\n\n\n<li>User B buys BTC with 2,000 USDT.<br><br>      \u2192 You will receive approximately 0.091 BTC based on the AMM formula<\/li>\n\n\n\n<li>As the amount of BTC in the pool decreases and the amount of USDT increases<br><br>      \u2192 BTC price will automatically increase<\/li>\n\n\n\n<li>When another user deposits BTC<br><br>      \u2192 Conversely, BTC goes up, USDT goes down, and the price readjusts<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 It's automatically designed to increase in price when someone buys a lot and decrease in price when they sell.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B0%80%EA%B2%A9_%EB%B3%80%EB%8F%99%EC%97%90_%EB%94%B0%EB%A5%B8_%EC%98%88%EC%8B%9C\"><\/span>Examples based on price changes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"BTC%EA%B0%80_2%EB%B0%B0%EB%A1%9C_%EC%98%AC%EB%9E%90%EC%9D%84_%EB%95%8C\"><\/span>When BTC doubled<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Initial: Deposit 1 BTC + 20,000 USDT (total value of $40,000)<\/li>\n\n\n\n<li>BTC price doubles \u2192 external quotes 1 BTC = 40,000 USDT<\/li>\n\n\n\n<li>When the price is reflected through the swap, my asset will be<br><br>      \u2192 Approx. 0.5858 BTC + 23,313.7 USDT (auto-adjusted rate)<\/li>\n\n\n\n<li>At that point, the total value of the assets is approximately 46,627.4 USDT<\/li>\n\n\n\n<li>But if you just held on to it, you'd have 1 BTC (40,000 USDT) + 20,000 USDT \u2192 60,000 USDT total<\/li>\n\n\n\n<li>\u2192 Approximately 13,372.6 USDT difference from holding (excluding fees)<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"BTC%EA%B0%80_%EC%A0%88%EB%B0%98_%EA%B0%80%EA%B2%A9%EC%9C%BC%EB%A1%9C_%EB%96%A8%EC%96%B4%EC%A1%8C%EC%9D%84_%EB%95%8C\"><\/span>When BTC fell to half price<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Initial: Deposit 1 BTC + 20,000 USDT (total value of $40,000)<\/li>\n\n\n\n<li>BTC price doubles \u2192 external quotes 1 BTC = 10,000 USDT<\/li>\n\n\n\n<li>When the price is reflected through the swap, my asset will be<br><br>      \u2192 Approx. 1.4142 BTC + 14,142.13 USDT (auto-adjusted rate)<\/li>\n\n\n\n<li>At that point, the total value of the assets is approximately 28,284.27 USDT<\/li>\n\n\n\n<li>But if you just held on to it, you'd have 1 BTC (10,000 USDT) + 20,000 USDT \u2192 30,000 USDT total<\/li>\n\n\n\n<li>\u2192 Approximately 1,715.73 USDT difference from holding (excluding fees)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%B6%9C%EA%B8%88%ED%95%A0_%EB%95%8C_%EC%9E%90%EC%82%B0%EC%9D%80_%EC%96%B4%EB%96%BB%EA%B2%8C_%EB%8F%8C%EC%95%84%EC%98%A4%EB%82%98%EC%9A%94\"><\/span>What happens to my assets when I withdraw?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    Liquidity providers can withdraw their deposited assets at any time.<br>\n    However, the asset composition at the time of withdrawal may be different from the time of deposit.\n    Example: 1 BTC + 20,000 USDT at the time of deposit \u2192 0.95 BTC + 21,000 USDT at the time of withdrawal\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\n    This is because the transaction changes the ratio within the liquidity pool, and the <strong>Transaction fees<\/strong>as a reward.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 It's 1:1 when you add it, but the ratio can change when you take it away. I get paid in commissions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%86%90%ED%95%B4%EB%A5%BC_%EB%B3%BC_%EC%88%98%EB%8F%84_%EC%9E%88%EB%82%98%EC%9A%94\"><\/span>Can I lose money?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Impermanent Loss<\/strong>concept.<br> If the price of one of your deposited coins goes up or down significantly, you could make less money than if you just held it.<br> However, if you have a high volume of transactions, the fee revenue can offset this.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 If the price moves significantly, it can be a loss, but it can also be compensated by commission income.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%88%84%EA%B0%80_%EC%B0%B8%EC%97%AC%ED%95%A0_%EC%88%98_%EC%9E%88%EB%82%98%EC%9A%94\"><\/span>Who can participate?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    Anyone with a wallet can join.<br>\n    Connect wallets such as MetaMask, Clip, Phantom, and others to exchange coins or monetize by providing liquidity.<br>\n    It is characterized by no KYC verification and no account creation.\n  <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%8C%80%ED%91%9C%EC%A0%81%EC%9D%B8_DEX_%ED%94%8C%EB%9E%AB%ED%8F%BC\"><\/span>Top DEX platforms<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Uniswap:<\/strong> Largest DEX on Ethereum<\/li>\n\n\n\n<li><strong>PancakeSwap:<\/strong> Binance Smart Chain (BSC) Main DEX<\/li>\n\n\n\n<li><strong>SushiSwap:<\/strong> Multichain-enabled DEXs<\/li>\n\n\n\n<li><strong>Bucksdex:<\/strong> Coming soon, a DEX powered by the BugsCoin ecosystem<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DEX%EC%99%80_CEX%EB%8A%94_%EB%AD%90%EA%B0%80_%EB%8B%A4%EB%A5%BC%EA%B9%8C%EC%9A%94\"><\/span>What's the difference between a DEX and a CEX?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    A centralized exchange (CEX) is an exchange run by a central server, like Binance and Upbit.<br>\n    A DEX, on the other hand, is a cryptocurrency exchange where all transactions are done through smart contracts. <strong>Decentralized exchanges<\/strong>Answer.\n  <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th>DEX<\/th><th>CEX<\/th><\/tr><\/thead><tbody><tr><td>Sign up<\/td><td>You only need to connect your wallet to use it<\/td><td>Email and KYC required<\/td><\/tr><tr><td>Asset custody<\/td><td>Store directly in your personal wallet<\/td><td>Entrusting assets to an exchange wallet<\/td><\/tr><tr><td>How to trade<\/td><td>AMM method (liquidity pool-based)<\/td><td>Order book method (price matching)<\/td><\/tr><tr><td>Security<\/td><td>Beware of personal wallet hacks<\/td><td>Risk of central server hacking<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 Instead of managing assets themselves, DEXs make it harder to recover from mistakes and can cost you gas money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 CEX is easy to use, but it relies on a centralized system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%9D%B4%EC%9A%A9%EC%9E%90%EC%99%80_%EA%B3%B5%EA%B8%89%EC%9E%90%EC%9D%98_%EA%B4%80%EC%A0%90%EC%97%90%EC%84%9C_DEX_%EB%B3%B4%EA%B8%B0\"><\/span>Viewing the DEX from a user and provider perspective<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%9D%B4%EC%9A%A9%EC%9E%90_%EC%9E%85%EC%9E%A5_%ED%8A%B8%EB%A0%88%EC%9D%B4%EB%8D%94\"><\/span>As a user (trader)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Just connect your wallet and start trading immediately<\/li>\n\n\n\n<li>I own my own assets<\/li>\n\n\n\n<li>Gas fees may apply, speeds vary by chain<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 You can save on fees by managing your own assets, but it can be slow or expensive when the chain is congested.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B3%B5%EA%B8%89%EC%9E%90_%EC%9E%85%EC%9E%A5_LP_%EC%9C%A0%EB%8F%99%EC%84%B1_%EA%B3%B5%EA%B8%89%EC%9E%90\"><\/span>Provider Position (LP: Liquidity Provider)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Deposit two coins to enable trading<\/li>\n\n\n\n<li>Earn a share of transaction fees<\/li>\n\n\n\n<li>Possible permanent loss<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 You can expect to earn fees, but you can also lose money if the price of the coins you deposited changes significantly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B0%80%EC%8A%A4%EB%B9%84Gas_Fee%EB%9E%80\"><\/span>What is a Gas Fee?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    For all activity on the DEX, including trading, deposits, withdrawals, etc. <strong>Gas costs<\/strong>is raised.<br>\n    These are fees for using the blockchain network, with Ethereum being relatively expensive and BSC, Polygon, etc. being cheaper.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 Since all operations are executed on the blockchain, gas costs must be considered when using a DEX.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B8%8C%EB%A6%AC%EC%A7%80Bridge%EB%9E%80\"><\/span>What is a Bridge?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\n    The ability to move assets between different blockchains <strong>Bridges<\/strong>.<br>\n    For example, if you want to move USDT on the Ethereum chain to BSC, you'll need to use a bridge.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\n    Using bridges incurs a small gas fee and can introduce transmission latency.\n  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udca1 DEXs can only trade within the same chain, so you need to use bridges to cross chains.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%A7%88%EB%AC%B4%EB%A6%AC_%EC%A0%95%EB%A6%AC\"><\/span>Wrapping up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">DEXs are an uncomplicated way for anyone to participate in the <strong>Decentralized exchanges<\/strong>is the value.<br> You hold the assets yourself, transactions are automatically executed by smart contracts, and you can even monetize them by providing liquidity.<br> It works on completely different principles than a centralized exchange, so understanding and using its structure is paramount.<br> \ud83d\udca1 If you're new to it, we recommend starting with a small amount on a chain with low gas fees (BSC, Polygon, etc.).<br> \ud83d\udca1 When connecting a wallet, make sure to check the official URL, and when using bridges or swaps, make sure to check the fees and chain information.<br> <br> New technologies can feel intimidating, but once you understand them and experience them piece by piece, they're much simpler and more intuitive than you might think.<\/p>","protected":false},"excerpt":{"rendered":"<p>\uc774 \ud398\uc774\uc9c0\ub294 DEX(Decentralized Exchange), \uc989 \ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c\uc758 \uac1c\ub150\uacfc \uc791\ub3d9 \uc6d0\ub9ac\ub97c \uc27d\uac8c \uc774\ud574\ud560 \uc218 \uc788\ub3c4\ub85d \uc815\ub9ac\ud55c \uc815\ubcf4\ud615 \ucf58\ud150\uce20\uc785\ub2c8\ub2e4. DEX\ub780 \ubb34\uc5c7\uc778\uac00\uc694? DEX\ub294 \uc911\uc559 \uae30\uad00 \uc5c6\uc774 \uc0ac\uc6a9\uc790\ub4e4 \uac04\uc758 \uc9c1\uc811 \uac70\ub798\uac00 \uac00\ub2a5\ud55c \ube14\ub85d\uccb4\uc778 \uae30\ubc18\uc758 \uac70\ub798 \ud50c\ub7ab\ud3fc\uc785\ub2c8\ub2e4. \ub300\ud45c\uc801\uc778 \uc608\ub85c\ub294 Uniswap, PancakeSwap, SushiSwap \ub4f1\uc774 \uc788\uc73c\uba70, \ubcc4\ub3c4\uc758 \ud68c\uc6d0 \uac00\uc785 \uc5c6\uc774 \uc9c0\uac11 \uc5f0\uacb0\ub9cc\uc73c\ub85c \ubc14\ub85c \uac70\ub798\ub97c \uc2dc\uc791\ud560 \uc218 \uc788\ub294 \uac83\uc774 \ud2b9\uc9d5\uc785\ub2c8\ub2e4. \ud83d\udca1 \uc774\uba54\uc77c \uac00\uc785 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[170,175,161,160,171,172,180,177,179,173,178,56,174,176,55],"class_list":["post-187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-guide","tag-amm","tag-cex-","tag-dex","tag-pancakeswap","tag-sushiswap","tag-uniswap","tag-web3-","tag-177","tag-179","tag-173","tag-178","tag-56","tag-174","tag-176","tag-55"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/05\/what-is-dex-thumbnail-2.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/comments?post=187"}],"version-history":[{"count":1,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/187\/revisions"}],"predecessor-version":[{"id":190,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/187\/revisions\/190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/media\/194"}],"wp:attachment":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/media?parent=187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/categories?post=187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/tags?post=187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}