Traditionally, centralized exchanges have long been the norm in the crypto space, allowing users to buy and sell cryptocurrencies quickly and easily with hardly any technical knowledge needed to open the door. However, with all the convenience that a centralized service provides, a few disadvantages and bumps in the road come along as well. Traditional exchanges can be prone to security failures like hacks and exit scams, and no one likes getting robbed. A central server might as well be the bank on the corner.
Fortunately, there is an alternative. Decentralized exchanges allow users to maintain a higher level of privacy and security. Power to the people!