Basics · Beginner lesson · about 6 minutes
Exchanges
A service that helps people trade, but may also hold the keys.
The short answer
An exchange matches buyers and sellers and may custody assets for customers. An account balance is not the same thing as controlling the network keys.
In plain English
An exchange matches buyers and sellers and may custody assets for customers. An account balance is not the same thing as controlling the network keys.
This lesson belongs to the basics cluster. The details differ by network and service, so use the linked sources and the project’s own documentation when a decision depends on current behavior.
What can go wrong
Read this before you act.
Counterparty failure, account takeover, withdrawal holds, fees, and unsupported networks can all create loss.
Check your understanding
A few questions. Not a test.
Choose an answer to see why it is right or wrong. Nothing is locked behind a score.
Sources and corrections
This lesson is a starting point. When details matter, read the official pages we link below, and tell us if something needs a correction.