Exchange
A marketplace for buying and selling cryptocurrencies.
An exchange is a marketplace where cryptocurrencies are traded against each other and against regular money. Centralized exchanges (CEXes) hold deposits and run order books; decentralized ones (DEXes) are smart contracts.
For a miner, the exchange is where mined coins become spendable money. Keep coins in your own wallet until you trade, and withdraw proceeds afterwards: an exchange account is custodial.
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