Access thousands of DeFi tokens

There are quite a few differences between DEXs and CEXs — after all, they work in fundamentally different ways. The biggest one is the fact that DEXs don’t use any intermediaries. Instead, they execute trades and determine rates with the help of smart contracts technology and Automated Market Maker (AMM) protocols.
Generally, DEXs tend to have lower fees but also lower liquidity. This makes them less attractive to large investors. Centralized exchanges, on the other hand, can provide users with much higher liquidity and are generally more reliable. CEXs are typically also more beginner-friendly.

We recommend using MetaMask. Alternatively, you can also connect one of the crypto wallets supported by WalletConnect, but don’t forget to make sure that it supports the tokens you’re going to swap first.

Because of the way crypto and DEXs operate, you can only swap tokens that belong to the same network — that’s why you might not find what you’re looking for in the drop-down menu. For example, you won’t be able to find BSC tokens, such as WBNB, when you’re swapping on the Ethereum network.

Decentralized exchanges like Changelly DEX use smart contracts and liquidity pools to determine asset prices.
DEXs have a certain amount of each asset they have previously listed held in reserve. The prices of those assets are determined by how much of the asset is held in relation to the whole pool. Basically, if an asset becomes scarce — for example, if more people suddenly want to purchase it — then its price will go up. However, if everyone is selling it, but barely anyone is buying it, its price will go down.
Although it may seem like this can be very dangerous and lead to market manipulation, we have various mechanisms in place that can keep price movement in check. For example, trading bots and arbitrage traders play a big role in regulating prices across exchanges.