Decentralized exchanges are ones that allow peer-to-peer transactions without the use of a third-party intermediary. Since there is no need to disclose the exchange admins any sensitive information, these exchange services are secure.
Decentralized exchange is made possible via smart contracts. Only when the buyer and seller are in direct contact is an immediate transaction possible. The risk of hacking is eliminated because transaction information is kept in the trader's wallet rather than the administrator wallet.
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