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A cryptocurrency exchange is a platform that allows users to buy, sell, and trade cryptocurrencies. These exchanges operate online and can be accessed through a computer or mobile device. Cryptocurrency exchanges typically offer a variety of different digital currencies, such as Bitcoin, Ethereum, and Litecoin, and allow users to trade these currencies for other cryptocurrencies or for fiat money, such as US dollars or euros. Some exchanges also offer additional services, such as the ability to margin trade, which allows users to borrow money in order to make larger trades, or to trade derivatives, which are financial instruments that are based on the value of an underlying asset. Cryptocurrency exchanges are a key part of the infrastructure that supports the growth and development of the cryptocurrency market.