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6 BEST Perpetual Decentralized Exchanges (DEX) for Leveraged Crypto TradingA decentralized exchange allows users to trade between two cryptocurrencies through direct, peer-to-peer transactions, all without the reliance on a third party. A decentralized exchange (DEX) is a peer-to-peer (P2P) crypto trading platform that connects cryptocurrency buyers and sellers. Decentralized exchanges � DexGuru � dYdX � pro.bitcoinsourcesonline.comge � AirSwap � Balancer � Bancor � Bisq � CowSwap.