Cryptocurrency Exchanges are online platforms where users can buy and sell their digital assets or cryptocurrencies. This is similar to traditional fiat currency exchanges, where you can convert your Euros into US Dollars, and convert your US Dollars to Japanese Yen, and so on.
The digital assets exchange, however, will allow you to convert between fiat currencies and digital currencies such as Bitcoin or Ethereum and this is also where the trading occurs. There are two types of exchanges, the centralized exchange where there is an actual company behind it. This type of exchange is very common and popular as they provide a wide range of services such as spot and derivatives trading as well as support teams to help users troubleshoot any problems.