A cryptocurrency is an encrypted data string that denotes a unit of currency. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring.

A crypto exchange is a platform on which you can buy and sell cryptocurrency. It acts as an intermediary between a buyer and a seller and charge a commission or transaction fee. For new investors, cryptocurrency is a buzzword. The whole idea is based on the distributed ledger that stores information on every transaction. These are done through online exchanges where investors open an account and start the trade. It requires less personal information from their members than other types of exchanges.