What is cryptocurrency exchange, A cryptocurrency exchange is a digital platform that enables users to buy, sell, and trade digital assets like Bitcoin, Ethereum, and altcoins. Exchanges can be centralized (CEX) or decentralized (DEX), offering features such as spot trading, margin trading, derivatives, and staking. They support fiat-to-crypto or crypto-to-crypto transactions, often requiring KYC/AML compliance. Centralized exchanges offer high liquidity and support, while DEXs provide user control and privacy. These platforms are critical to the crypto ecosystem, facilitating price discovery, market participation, and asset accessibility for individuals and institutions.