Cryptocurrency Exchanges

Cryptocurrency exchanges are systems that allow users to trade cryptocurrencies for digital currencies or other asset classes, such as fiat money. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform. Most wallets also have integrated exchange functions.

As the majority of digital currency exchanges operate outside of Western countries, they often avoid regulatory oversight and complicating prosecutions, but most handle Western fiat currencies, sometimes maintaining bank accounts in several countries to facilitate deposits in various national fiat currencies.  Cryptocurrency exchanges may accept credit card payments, wire transfers, postal money orders, cryptocurrency or other forms of payment in exchange for digital currencies. They can send cryptocurrency to your personal cryptocurrency wallet. Some exchanges can convert digital currency balances into anonymous prepaid cards which can be used to withdraw funds from ATMs worldwide.