When you trade on a decentralized exchange, a peer-to-peer crypto trading platform that lets you control your own funds without a central company. Also known as DEX, it’s the backbone of modern crypto trading—no bank, no KYC, no one holding your keys. But in 2025, that freedom comes with new risks. Many DEXs you used to trust are gone. Others are locked down by regulators. And the ones still running? They’re faster, cheaper, and far more dangerous if you don’t know what you’re doing.
Behind every working DEX in 2025 is a non-custodial wallet, a digital wallet where you alone control the private keys. Also known as self-custody wallet, it’s not optional—it’s the only way to use a true DEX. If a platform asks you to deposit crypto to trade, it’s not decentralized. It’s a centralized exchange pretending to be one. Look at what happened to platforms like SatoExchange and BTLUX—no fiat support, no user trust, and no real security. That’s the new reality. The DEXs that survive in 2025 are built on chains like Avalanche and Base, where fees are low and speed is high. LFJ v0 on Avalanche, for example, still stands out because it doesn’t force KYC, doesn’t freeze wallets, and doesn’t vanish overnight. But even those aren’t safe if you’re trading unknown tokens with no liquidity.
What you’ll find in the posts below isn’t a list of the "best" DEXs. It’s a list of what’s actually working—and what’s a trap. You’ll see how regulators in Singapore and the U.S. are forcing DEXs to change, how Iranian miners still use crypto despite blackouts, and why airdrops like Dogs Of Elon (DOE) or Kalata (KALA) are more about hype than real value. You’ll learn why some DEXs disappear without warning, why fake tokens like ELIZABETH or TAUR are everywhere, and how to spot a rug pull before you connect your wallet. This isn’t theory. It’s what’s happening right now in 2025. If you’re trading crypto without a middleman, you need to know what’s real, what’s dead, and what’s about to vanish. The next trade could cost you everything—or save you from a scam that’s already fooled thousands.
ShadowSwap is a niche decentralized exchange on the Core blockchain with minimal volume and extreme token volatility. It's only worth considering if you're already active on Core - otherwise, skip it.