A cryptocurrency / virtual assets exchange operator is an enterprise or an affiliate of another company that exchanges cryptoassets held by a customer in return for a commission fee.

A cryptocurrency exchange is an online platform to buy and sell digital currencies such as bitcoin. The crypto / VASP platform basically functions as a mediator in transactions, allowing users to trade between various fiat currencies (for example, US dollars), Bitcoin, and alternative cryptocurrencies (altcoins) (like Cardano and Dogecoin).

In many ways, cryptocurrency exchanges are similar to other forms of asset exchanges, like the stock market, in how they operate. In other terms, the exchange facilitates the matching of buyers and sellers.