A block-chain is a digital record of transactions. The name comes from its structure, in bn which individual records, called blocks, are linked together in single list, called a chain. Block-chains are used for recording transactions made with crypto, such as Bitcoin, and have many other applications.

A crypto is a digital or virtual like currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many crypto are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

A crypto exchange, or a digital currency exchange (DCE), is a business that allows customers to trade crypto or digital currencies for other assets, such as conventional fiat money or other digital currencies. A crypto exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees.