Decentralized Exchange: What It Is, How It Works, and What You Need to Know in 2025

When you trade crypto on a decentralized exchange, a platform that lets users swap digital assets directly without relying on a central company to hold their money. Also known as a DEX, it runs on blockchain code, not a corporate server. This means no one can freeze your funds, shut down the service, or demand your ID. That’s the whole point — you’re in control. No middleman. No bank. No one asking why you’re moving $5,000 in ETH.

But not all DEXs are the same. Some, like DeGate, a zkRollup-powered decentralized exchange that offers low fees and order book trading, use advanced tech to make trades faster and cheaper. Others, like Saros Finance, a Solana-based DeFi super-app that combines swapping, staking, and NFT trading, bundle multiple tools into one platform. Then there are the ones that barely work — low liquidity, no users, no future. The difference? It’s not just about the name. It’s about how the code is built, who’s behind it, and whether real people are actually using it.

What you’ll find here aren’t just reviews. These are real stories about what’s working, what’s broken, and what’s a total scam. You’ll see how non-custodial wallet, a wallet where only you control the private keys, not a company ties into DEX usage — because you can’t trade on a true DEX without one. You’ll learn why some DEXs fail even with great tech, and why others rise fast despite being new. You’ll also spot the red flags: fake volume, empty liquidity pools, teams that vanish after launch.

There’s no hype here. No "next Bitcoin" promises. Just facts: what’s live, what’s dead, and what’s worth your time in 2025. Whether you’re trying to avoid exchange hacks, save on fees, or just want to trade without giving up control, this collection shows you exactly what’s out there — and what to avoid.