Bitcoin exchanges are platforms that allow users to buy and sell Bitcoin. They come in a variety of types, each with its own advantages and disadvantages. Popular types of exchanges include peer-to-peer, decentralized, and centralized exchanges.

Peer-to-peer exchanges offer users direct access to other traders. This type of exchange allows users to trade with each other directly, with no middleman involved. This can be beneficial for those looking to get the best prices on their trades. Decentralized exchanges are not hosted by any one entity and offer more anonymity than centralized exchanges. This type of exchange can be more secure as it eliminates the risk of a single point of failure. Centralized exchanges are hosted by a single entity, making them easier to use and more secure. They often offer more features than decentralized exchanges, such as fiat currency support.