How do Decentralized Exchanges (DEX) works ?
A decentralized exchange can be an identical system for trading pairs that allows people to place orders and trade Cryptocurrencies without managing the ledger and holding the funds of consumers counting on an intermediary agency.
Rather, transactions are conducted directly between users (peer to peer) via an automatic process. A Decentralized exchange (DEX) is one of the most interesting elements of the DeFi movement. As you might already know, DeFi is a trend in which developers create decentralized alternatives to various conventional legacy financial institutions.
Features and Benefits :
Security : Security is the main advantage of DEX. Centralized exchanges store all the crypto funds placed on their exchanges, that would theoretically make them susceptible to hackers. Decentralized exchanges, on the opposite hand, frequently leave cryptocurrency ownership within the hands of their users and essentially function as an area for peer-to-peer trading. The platform does not store the private keys of users or any confidential data. The user has complete control of the funds. Decentralized exchanges work better for users in cryptocurrency trading thanks to their anonymity.
Decentralized Server : It doesn't have a central server, but distributed servers round the world that ensure security is enhanced. It's extremely hard, if not impossible to hack it. Many DEXs are hosted on decentralized servers, which implies that the data is on a peer-to-peer basis and thus are distributed across the globe.
Privacy : In comparison to regulated exchanges, DEX does not require any personal information or ID documents to identify an account. Many decentralized exchanges do require an account to be established before you can start trading. However unlike more centralized exchanges that require to validate the identity of users through various styles of official government ID, most decentralized exchanges allow anyone to make an account under any name they choose, with little to no approval process.
Not constrained by law: Not limited to one physical venue, decentralized crypto exchanges are much more difficult to regulate or shut down. Decentralized exchanges provide some way for people to trade cryptocurrencies at anyplace, as they do not go through a centralized authority which could be subject to a shutdown order.
Kingswap Exchange : For the availability of decentralized liquidity on Ethereum, KingSwap is a new decentralized finance protocol. Buy & Sell, NFT trade swap. Fiat off-ramp cryptocurrency conversions. KingSwap is the latest Liquid Pool Project for Decentralized Finance (DeFi), a fork of the Uniswap protocol with improvements and enhanced features.
KingSwap features a straightforward and powerful UI user-friendly features that provide real-time benefits in terms of price curves and contributor rewards
KingSwap is the first DeFi platform to offer NFTs that give owners access to exclusive airdrops
KingSwap provides legitimacy with a credible team that’s backed by compliance with the laws of a strong regulator
Issuing 3 NFT tiers – King Vamp, Queen Sparkle, and Knight Lancelot NFTs. Buyers of these 3 types of NFTs of the Kingswap project can enjoy loyalty rewards from the $KING tokens being issued by the Kingswap project
integrated OTC portal, an all-in-one platform offers off-ramp FIAT conversions to easily switch your $KING to FIAT currencies.