If you hold cryptocurrency and want to trade, but do not want to send your assets to centralized exchanges like bitFlyer or Coincheck, there is a way for you to trade without sending them to these exchanges. This is done by using a DEX (Decentralized Exchange), something that’s recently being referred to as De-Fi.
DEX is a system that operates in a decentralized manner, not managed by humans but operating with the power of blockchain. Various DEXs appear and disappear, and those that are superior and easy to use will be chosen over time, so the quality of DEXs will improve as time progresses.
If you use a mainstream AMM-type DEX, you can trade directly from a wallet where you can hold your own private key (such as TrustWallet) and because the swap (exchange between cryptocurrencies) itself is performed on the blockchain, there is no need to worry about counterparty risk.