Exchange

How it is used

You sign up for, deposit to, withdraw from and trade on an exchange; an exchange lists or delists tokens. People separate centralized exchanges (CEX) from decentralized exchanges (DEX). Laws often use longer names such as crypto asset service provider.

Example sentences

1. The exchange paused withdrawals for two hours during the network upgrade.

2. Before you send funds to an exchange, check which networks it supports.

Common collocations

• crypto exchange
• deposit to an exchange
• withdraw from an exchange
• list on an exchange
• exchange account

Related terms

• centralized exchangeA crypto exchange run by a company that holds customers' funds, matches buy and sell orders on its own system and usually checks users' identities. Often shortened to CEX.
• decentralized exchangeAn exchange that runs on smart contracts, letting users trade directly from their own wallets without handing their funds to a company. Often shortened to DEX.
• order bookA live list of all open buy and sell orders for a trading pair, sorted by price. It shows what buyers will pay, what sellers want and how much is available at each price level.
• trading pairTwo assets that can be traded directly against each other on an exchange, such as ETH/BTC. The price shows how much of the second asset you need for one unit of the first.
• KYCShort for know your customer: the checks a regulated company carries out to confirm who its customers are, usually by collecting an ID document, a selfie and an address.

This word in other fields

The same English word can have a different meaning in another field:

• exchange · E-commerce
• exchange · Customer Service

More terms: Exchanges & Trading

• market cap
• volatility
• fiat
• liquidity
• spot trading
• leverage
• liquidation
• slippage