The difference between an exchange, a broker, and a dealer in the world of digital assets
Exchange
A digital asset trading center that facilitates the trading or exchange of cryptocurrencies and digital tokens by matching or finding a counterparty, organizing a system, or facilitating the entry of those wishing to buy, sell, or exchange such assets into an agreement or a match.
Broker
A digital asset broker acts as a broker or an agent to purchase, sell, or trade cryptocurrencies and digital tokens with other entities in exchange for a fee or other form of compensation
Dealer
A digital asset dealer is a service provider who trades or exchanges cryptocurrencies and digital tokens on behalf of others by conducting business outside of the exchange.