What is a DEX?
A DEX (Decentralized Exchange) is a platform where:
You trade crypto directly from your wallet (MetaMask, Trust Wallet, etc.).
No registration or KYC is required.
Everything happens via smart contracts on the blockchain.
👉 Examples:
Uniswap (Ethereum)
PancakeSwap (BNB Chain)
SushiSwap, Curve, 1inch, etc.
Unlike Binance or Bybit, you fully control your funds.
Advantages
✅ No KYC – anonymity.
✅ Full ownership of your wallet.
✅ Wide token selection (new projects often launch first on DEX).
✅ DeFi opportunities – staking, yield farming, liquidity pools.
Risks
⚠️ Fake tokens – scam projects can create identical tokens with similar names.
⚠️ Malicious smart contracts – approving a fake site can drain your wallet.
⚠️ High fees (especially on Ethereum).
⚠️ No support center – mistakes are irreversible.
1. Choose the right DEX
Use only official addresses:
Uniswap: https://app.uniswap.org
PancakeSwap: https://pancakeswap.finance
👉 Always check the URL before connecting your wallet (many scam links imitate DEX).
2. Wallet security
Use MetaMask, Trust Wallet, Coinbase Wallet.
Store your seed phrase safely (never copy to email).
For extra security – use a hardware wallet (Ledger/Trezor) → can connect to DEX.
3. How to trade safely on a DEX
Step 1 – Connect wallet
Open the official DEX site.
Click “Connect Wallet.”
Choose MetaMask / Trust Wallet.
Step 2 – Verify token
Check the token’s contract address (CoinGecko, CoinMarketCap, official Twitter/Discord).
Never buy a token just by its name → scammers can create fake USDT or SHIB.
Step 3 – Swap
Choose tokens to swap (e.g., USDC → ETH).
Check the gas/transaction fee.
Confirm the transaction in your wallet.
Step 4 – Safety check
Set slippage tolerance (the price at which the swap will still execute).
→ 0.5%–1% is usually enough. If asked for 10%+, the token may have scam mechanisms.
4. How to avoid fake projects
Always verify the official contract address.
Use DEX Screener or Token Sniffer to check the token.
Check liquidity – small liquidity (<$100k) = higher risk.
Watch for “buy only” or “sell limit” – possible rug pull.
5. Safety recommendations
🔒 Never trust, always verify:
Never connect your wallet to suspicious sites.
Approve tokens only for trusted contracts.
Periodically revoke old approvals using https://revoke.cash.
Use a secondary wallet for smaller trades (not the one with large holdings).
6. Fees and networks
Ethereum → expensive but safer (Uniswap).
BNB Chain → cheaper, but more scam projects (PancakeSwap).
Arbitrum/Optimism → cheaper ETH alternatives.
Polygon → low fees, but many small tokens.
Conclusion
DEX offers freedom but full responsibility for security.
If you:
use official sites,
verify contract addresses,
store funds in a hardware wallet,
use revoke.cash,
👉 you can trade safely and conveniently without intermediaries.