An Exchange is a business where one currency is converted into another. Cryptocurrency Exchanges may swap between different cryptocurrencies and fiat currencies. Bitcoin Exchanges have had a number of difficulties gaining financial and legal footing, making the exchange of fiat and bitcoin tricky.


Malone, J.A (2015). Glossary of Bitcoin Terms and Definitions. United States: Lulu Press, Inc

An online marketplace which facilitates the exchange of crypto or fiat currencies based on the market exchange rate.


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