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docs/concepts/tokens/decentralized-exchange/index.md
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The XRP Ledger has possibly the world's oldest _decentralized exchange_ (sometimes abbreviated "DEX"), operating continuously since the XRP Ledger's launch in 2012. The exchange allows users to buy and sell [tokens](../index.md) for XRP or other tokens, with minimal [fees](../../transactions/fees.md) charged to the network itself (not paid out to any party).
**Caution:** Anyone can [issue a token](../../../tutorials/tasks/use-tokens/issue-a-fungible-token.md) with any currency code or ticker symbol they want and sell it in the decentralized exchange. Always perform due diligence before buying a token, and pay attention to the issuer. Otherwise, you might give up something of value and receive worthless tokens in exchange.
**Caution:** Anyone can [issue a token](../../../tutorials/how-tos/use-tokens/issue-a-fungible-token.md) with any currency code or ticker symbol they want and sell it in the decentralized exchange. Always perform due diligence before buying a token, and pay attention to the issuer. Otherwise, you might give up something of value and receive worthless tokens in exchange.
## Structure