What is an Exchange?
An exchange is a marketplace in which securities, commodities, derivatives, and other financial instruments are traded.
Virtual currency exchanges allow their customers to trade virtual currencies – usually for other virtual currencies, but also for other assets such as fiat money.
Most trades on these virtual exchanges occur on a peer-to-peer basis. However, some exchanges permit direct purchase of Ether at market price. In others, the user is permitted to dictate what they are able to pay through the exchange’s buy-and-sell mechanism.
Which Exchange Do I Use?
Different exchanges may offer a variety of functions. Some may accept credit card payments, wire transfers, postal money orders, or other forms of payment (such as another virtual currency), in exchange for Ether or other virtual currencies. They may offer different security protocols. Many exchanges also offer a wallet function to store Ether or another virtual currency.
The exchanges listed below allow users to purchase Ether with fiat currency.