Can atom tokens be traded for fiat currencies?

Could you elaborate on the feasibility of exchanging ATOM tokens for traditional fiat currencies? I'm particularly interested in understanding the mechanisms and platforms that facilitate such trades. Are there any specific exchanges or marketplaces that support direct conversions from atom tokens to fiat currencies? What are the associated risks and limitations in carrying out such transactions? Additionally, how do the exchange rates and liquidity factors come into play when considering the viability of trading atom tokens for fiat?