A crypto exchange is, very basically, a place where you can purchase a cryptocurrency using either cash or another kind of digital asset.
This roundup primarily discusses a type of crypto exchange known as a centralized exchange. A centralized exchange is a marketplace operated by a business entity that buys, sells and facilitates transactions in cryptocurrency.
If you’re new to cryptocurrency, or if you just need to convert fiat currency into crypto, you’ll likely be using a centralized exchange.
Another way to get crypto is through what is known as a decentralized exchange. These are largely automated, blockchain-based programs that allow users to swap certain kinds of cryptocurrency for one another. While these can have lower transaction costs, they also require more technical expertise. And if you don’t already have cryptocurrency, your options are limited.