A cryptocurrency exchange is a platform where digital assets are bought, sold, and stored. Unlike stock exchanges, opening an account on such a platform is very simple, and trading is accessible to everyone interested.

There are two main types of cryptocurrency exchanges:

Centralized (CEX) — platforms that act as intermediaries between the buyer and the seller. To execute a transaction, you need to transfer cryptocurrency to the exchange's account. The advantages of such platforms include a user-friendly interface and high security. They are ideal for beginners who want to purchase their first crypto, as they accept fiat currencies. These exchanges allow you to buy cryptocurrency with hryvnias. Ukrainian centralized exchanges include WhiteBIT, Kuna, and Qmall.
Decentralized (DEX) — platforms where users buy and sell cryptocurrency directly from each other, without the involvement of a third party. They are anonymous, and registration and verification are not required to access the services. These exchanges do not store user assets and do not work with fiat currencies. Currently, there is only one decentralized platform with Ukrainian roots on the market — the staking platform Everstake.
Cryptocurrencies are very popular in Ukraine. In 2022, the country ranked third in the world in the number of crypto holders, and Ukrainian cryptocurrency exchanges are among the largest by trading volume.