Exchange
A company that matches buyers with sellers and holds customers' money and coins.
Exchange in more detail
An exchange is where most people buy their first crypto. It is a company that matches buyers with sellers and holds customers' money and coins.
You place an order, and the exchange matches it with someone selling.
That balance is a record in the exchange's own database. The coins sit in wallets the exchange controls, usually pooled with other customers' coins. You hold a claim on the company. You do not hold the keys.
All 128 terms · Checked against the lesson's sources on 8 October 2026.
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