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What are cryptocurrency exchanges?

Cryptocurrency exchanges are online platforms hosted by companies or other entities that make it convenient for users to purchase and sell cryptocurrency. When cryptocurrency was first introduced, you had to manually enter a command in a terminal to send a coin to someone.

How do crypto exchanges work?

Crypto exchanges work similarly to a broker, giving you the tools to buy and sell cryptocurrencies easily. They also offer security features and storage options for your digital assets that may be superior to maintaining wallet software on your own.

How many cryptocurrency exchanges are there?

The number is changing all the time, but according to CryptoCoinCharts, there are some 200 exchanges currently listed. Exchanges are wildly popular when it comes to cryptocurrency trading. However, they aren’t without their issues. Many exchanges have been hacked, sometimes losing huge amounts of currency.

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