A Bitcoin exchange is a digital platform where users can buy, sell, and trade Bitcoin using fiat currencies or other cryptocurrencies. These exchanges can be centralized or decentralized, offering features like real-time order books, wallets, charting tools, and secure transactions. Popular among retail and institutional traders, Bitcoin exchanges often support additional assets and trading types, such as spot, futures, and margin trading. High liquidity, strong security, and regulatory compliance are essential characteristics. Reliable Bitcoin exchanges play a crucial role in the crypto economy.