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What is Exchange?

Crypto Terms Glossary: What is Exchange?

A cryptocurrency exchange is a type of digital currency exchange where digital assets can be bought, sold, and traded for fiat currency or other digital assets. They are similar to mainstream exchanges where traditional stocks are bought and sold in the type of transactions and orders that users can execute. Cryptocurrency exchanges have evolved significantly from the earliest iterations (which were often unregulated) to provide more security and accessibility and ensure legal compliance in accordance with the jurisdictions in which they operate. As the cryptocurrency space continues to grow, more exchanges have emerged which provide competitive trading fees, exchange rates, and user-friendly features as they vie for more users and trading volume.

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