A cryptocurrency exchange is a marketplace where digital assets can be purchased, sold, and traded for fiat currency or other digital assets. They are similar to traditional stock exchanges (where stocks are traded) in the types of transactions and orders that users can execute. Crypto exchanges have evolved significantly since their early iterations (which were frequently unregulated) to provide greater security and accessibility while ensuring legal compliance in the jurisdictions in which they operate. As the crypto space grew, more exchanges emerged to provide competitive trading fees, exchange rates, and user-friendly features.
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