Exchange

An exchange, in the context of finance and cryptocurrencies, refers to a platform or marketplace where assets can be bought, sold, or traded.

Cryptocurrency exchanges come in two main types: centralized exchanges (CEX) and decentralized exchanges (DEX). Centralized exchanges are operated by third-party entities and facilitate trading by providing order matching services and managing user funds. Examples of centralized exchanges include Binance, Coinbase, and Kraken. On the other hand, decentralized exchanges operate on blockchain networks, allowing users to trade directly from their wallets without an intermediary. Popular decentralized exchanges include Uniswap, SushiSwap, and PancakeSwap.