You probably know the drill with cryptocurrency exchanges. Sign up with your email, come up with a strong password, verify your account, and start trading cryptocurrency.

Decentralized exchanges are like that, minus the hassle of sign-ups. In most cases, there’s no depositing or withdrawing crypto. The trade happens directly between two users’ wallets, with limited (if any!) input from a third-party.

Decentralized exchanges can be a bit trickier to get the hang of, and they might not always have the assets you want. But, as the tech and interest in it grow, these may very well become integral components in the cryptocurrency sphere.