Exchange

A cryptocurrency exchange is an online marketplace where users can buy, sell, or trade cryptocurrencies for other cryptocurrencies, or for traditional fiat currencies like USD or EUR. These platforms serve as critical gateways for individuals to enter and exit the crypto market, providing liquidity and price discovery for a vast array of digital assets. Exchanges can be broadly categorized into centralized exchanges (CEXs), which are operated by a company that custodies user funds and facilitates trades, and decentralized exchanges (DEXs), which allow peer-to-peer trading directly on the blockchain without an intermediary.