Terracoin can currently be purchased from both decentralized exchanges and centralized exchanges. Exchanges are one of the most popular ways to trade cryptocurrency. A wide range of exchanges exist, each offering slightly different features. Some serve different markets, some are in direct competition, some have cheaper fees, and some are subject to more or less strict regulatory requirements. Most exchanges are centralized, meaning they are operated by a single company, which may be obliged by the laws of the jurisdiction in which it operates to collect data on its customers. Others are decentralized, but as a result have higher escrow requirements since you are dealing peer-to-peer instead of with a trusted entity. Exchanges can be broadly broken down into two categories: exchanges which accept national currency (fiat money) and exchanges which deal in cryptocurrencies only.