Bitcoin exchanges are online marketplaces that allow users to buy and sell Bitcoin and other cryptocurrencies. They are similar to traditional stock exchanges, but instead of trading stocks, users are trading digital currencies. Exchanges provide a platform for traders to exchange Bitcoin for other cryptocurrencies, fiat currencies, or other digital assets. When trading on an exchange, users can set limits on the amount of Bitcoin they want to buy or sell, as well as the price they are willing to pay. Additionally, many exchanges offer tools such as charts, analysis tools, and order books to help traders understand market trends and make informed decisions.