The post Top 11 DEXs of November 2025 appeared com. DEX or Decentralized exchanges are essentially blockchain-based peer-to-peer marketplaces that allow users to conduct transactions directly. They do not rely on any central authority or intermediary like traditional exchanges. The core concept behind DEXs is to give users full control over their assets, thereby also reducing the risk of hacks, breaches, or mismanagement that are associated with centralized exchanges. These exchanges also address privacy concerns as they require almost no personal information and promote censorship resistance and anonymity. They are also a great option for global access as there are no gatekeepers or geographical restrictions, and anyone with a wallet and an internet connection can use a DEX. Although they can be intimidating, DEXs are a crucial part of the crypto ecosystem and promote one of its core values. Here are some of the top recommendations of DEXs that you can check out: 1. dYdX dYdX has carved a strong position in the decentralized trading space by focusing on derivatives, a segment that has long been dominated by centralized platforms. It allows users to trade perpetual contracts, use margin, and access advanced order types, all while keeping full control of their assets. Built around a professional-grade order book system, dYdX delivers fast execution, low fees, and minimal slippage. The platform offers up to 20x leverage and deep liquidity across major markets, making it a go-to choice for experienced traders who want the functionality of a traditional exchange without giving up decentralization. 2. SushiSwap Originally launched as a fork of Uniswap, SushiSwap has since grown into a fully developed ecosystem with its own identity and community-driven ethos. It retains the core swap functionality of major DEXs while distinguishing itself through yield farming and its multi-chain expansion. Liquidity providers play a central role in SushiSwap’s design, earning trading fees along with rewards.