What is an Exchange?
The short answer
A platform where you can buy, sell, and trade cryptocurrencies, usually for traditional currency.
See our guide, “How to Choose a Crypto Exchange as a Beginner,” for what actually matters when picking one.
Related terms
Full glossaryDCA (Dollar-Cost Averaging)
Buying a fixed amount on a regular schedule, regardless of price, instead of trying to time the market.
NFT (Non-Fungible Token)
A token representing unique ownership of a specific digital (or sometimes physical) item, unlike a coin where every…
Proof of Work
A consensus method (used by Bitcoin) where network security comes from competing computing power.
DEX (Decentralized Exchange)
A crypto exchange that runs on smart contracts rather than a company matching buyers and sellers.
Stablecoin
A crypto token designed to hold a steady value, usually pegged to a currency like the US dollar.
Peg
The target value a stablecoin is designed to maintain, typically $1 for dollar-pegged coins.
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