What are cryptocurrency exchanges?

A cryptocurrency exchange (or cryptocurrency trading platform) is a digital platform (service) that allows users to buy, sell and trade cryptocurrencies, including Bitcoin (BTC) and its altcoins. Unlike a foreign exchange platform or a stock exchange, it acts as a market where traders can exchange digital assets for fiat currencies (such as US dollars, euros) or other cryptocurrencies.

In fact, cryptocurrency exchanges are not only used for trading and investment, but also for storing cryptocurrencies (similar to crypto wallets).

CoinMarketCap, the world's most influential portal, tracks more than 800 legal cryptocurrency exchanges. Cryptocurrency exchanges provide services by charging transaction fees. Most cryptocurrency exchanges also provide additional cryptocurrency income services, such as staking, lending, cryptocurrency interest accounts, etc.