The Bitcoin exchange is a digital marketplace where traders can buy and sell Bitcoins using different fiat currencies or altcoins. A Bitcoin exchange functions like a stock exchange, with the exception that it deals exclusively in digital currencies.
In most cases, Bitcoin exchanges also allow users to trade other digital currencies, including Ethereum, Litecoin, and Monero.
The largest Bitcoin exchange is Coinbase, a US-based platform founded in 2012. Coinbase allows users to buy and sell Bitcoins as well as store them in a wallet on the site.
The company has over 10 million users and has processed over $50 billion in transactions.
Coinbase is not the only large Bitcoin exchange; other popular platforms include Kraken, Bitstamp, and Bitfinex. These exchanges offer a variety of features and services, such as margin trading, OTC trading, and advanced order types.