Cryptocurrency exchanges facilitate the trading of cryptocurrencies for other assets such as traditional fiat money or other digital currencies. They provide services for both new users looking to invest in cryptocurrencies and experienced traders seeking to exchange different crypto assets. Exchanges can be categorized as centralized or decentralized. Centralized exchanges (CEX) like Coinbase or Binance are operated by companies that manage users’ funds and facilitate transactions, while decentralized exchanges (DEX) like Uniswap allow peer-to-peer trading without third-party intermediaries. Exchanges generate revenue through transaction fees, withdrawal fees, and in some cases, listing fees for new cryptocurrencies.