Bitcoin — the future of the financial system? (V) 6. Decentralized exchanges and DEFI. The dangers of centralized exchangers are hacking, regulations, not withdrawal of funds; you can’t sue an exchange that is on the other side of the world. So appeared decentralized exchanges, where you don’t need to locate funds on the exchange and you can trade peer-to-peer. DeFi is the protocol, which allows you deposit your funds in crypto and receive interest from it.