# Overview
DEXes are at the core of the decentralized finance ecosystem, allowing the market to attract and move liquidity, exchange assets within blockchains, and use trading strategies to earn. Decentralized exchanges allow market players to work with crypto anonymously and without any restrictions.
Tezos, as a platform for the development and expansion of dApps, has already been represented by several DEX protocols. DEXs allow projects to gain instant access to new liquidity, thereby increasing their market capitalization.
These service providers are not governed by a centralized authority — as opposed to a centralized exchange — and therefore require no personal information to set up an account as it works purely through connecting one’s hot wallet.
In many ways, this makes decentralized exchanges safer and mitigates the risk of market manipulation and being hacked as there is no transfer of assets to a third party like with a centralized exchange.
### Key Takeaways For Creators and Collectors
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Complete decentralization is not possible for the time being as it’s still necessary to use centralized exchanges to fund a wallet in exchange for fiat currency initially. Still, creators and collectors can benefit from these platforms by being able to:
* **Trade cryptocurrency with cryptocurrency** to receive the equivalent value thereof and diversify your portfolio
* **Stake tokens with DEXes to get more rewards** for providing liquidity
* **Lend/borrow tokens** against collateral that you provide
\* high-interest Defi products are risky, DYOR before investing
*Want to learn more about decentralized exchanges?*
Check out our comparison of leading Tezos DEXes.
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